Capstone Wealth Management LLC Makes New Investment in Nucor Co. (NYSE:NUE)

Capstone Wealth Management LLC purchased a new position in shares of Nucor Co. (NYSE:NUE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,850 shares of the basic materials company’s stock, valued at approximately $216,000.

A number of other hedge funds have also recently modified their holdings of NUE. Mizuho Securities USA LLC raised its position in shares of Nucor by 8,530.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 1,595,179 shares of the basic materials company’s stock valued at $239,819,000 after buying an additional 1,576,695 shares during the period. Pacer Advisors Inc. raised its position in Nucor by 19.8% in the third quarter. Pacer Advisors Inc. now owns 3,456,484 shares of the basic materials company’s stock valued at $519,648,000 after purchasing an additional 571,682 shares during the period. Ceredex Value Advisors LLC acquired a new position in shares of Nucor in the 3rd quarter valued at $74,829,000. Nordea Investment Management AB grew its holdings in shares of Nucor by 25.6% during the 4th quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company’s stock worth $205,282,000 after purchasing an additional 358,721 shares during the period. Finally, State Street Corp increased its position in shares of Nucor by 2.9% during the 3rd quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock worth $1,724,117,000 after purchasing an additional 326,181 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NUE shares. Citigroup lowered their target price on shares of Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Jefferies Financial Group cut their target price on Nucor from $150.00 to $125.00 and set a “hold” rating on the stock in a research report on Monday, January 6th. UBS Group restated a “neutral” rating and set a $156.00 price target (down from $171.00) on shares of Nucor in a research report on Thursday, December 12th. The Goldman Sachs Group assumed coverage on Nucor in a report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut their price target on shares of Nucor from $168.00 to $152.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $163.63.

Nucor Stock Up 0.3 %

Shares of Nucor stock opened at $124.95 on Wednesday. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. Nucor Co. has a 52-week low of $112.25 and a 52-week high of $203.00. The company has a market capitalization of $29.34 billion, a P/E ratio of 12.07 and a beta of 1.60. The company has a 50 day moving average of $132.82 and a 200 day moving average of $144.17.

Nucor (NYSE:NUE) last issued its earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.09. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The firm had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. During the same quarter in the previous year, the firm posted $4.57 earnings per share. The company’s revenue was down 15.2% compared to the same quarter last year. As a group, research analysts forecast that Nucor Co. will post 8.13 EPS for the current fiscal year.

Nucor Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.55 per share. This is a boost from Nucor’s previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Tuesday, December 31st. Nucor’s dividend payout ratio is currently 21.26%.

Insider Transactions at Nucor

In other Nucor news, CFO Stephen D. Laxton sold 4,712 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total transaction of $798,825.36. Following the transaction, the chief financial officer now owns 82,132 shares of the company’s stock, valued at approximately $13,923,837.96. This trade represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kenneth Rex Query sold 9,000 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the completion of the sale, the executive vice president now directly owns 98,770 shares of the company’s stock, valued at $14,499,436. The trade was a 8.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,680 shares of company stock valued at $4,773,724. Corporate insiders own 0.64% of the company’s stock.

About Nucor

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.