Independent Advisor Alliance Buys 929 Shares of Nucor Co. (NYSE:NUE)

Independent Advisor Alliance grew its position in Nucor Co. (NYSE:NUE) by 6.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,576 shares of the basic materials company’s stock after purchasing an additional 929 shares during the period. Independent Advisor Alliance’s holdings in Nucor were worth $1,818,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in Nucor in the 3rd quarter valued at about $26,000. GSA Capital Partners LLP bought a new stake in Nucor during the third quarter worth $239,000. Aptus Capital Advisors LLC boosted its position in Nucor by 3.0% in the third quarter. Aptus Capital Advisors LLC now owns 3,562 shares of the basic materials company’s stock worth $536,000 after purchasing an additional 105 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Nucor by 10.1% during the 3rd quarter. Victory Capital Management Inc. now owns 393,328 shares of the basic materials company’s stock worth $59,133,000 after purchasing an additional 35,943 shares during the period. Finally, MQS Management LLC raised its position in Nucor by 3.3% in the third quarter. MQS Management LLC now owns 3,282 shares of the basic materials company’s stock worth $493,000 after acquiring an additional 105 shares during the period. 76.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Jefferies Financial Group boosted their price objective on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Argus set a $155.00 price target on shares of Nucor in a research note on Wednesday, March 5th. Morgan Stanley raised their price objective on shares of Nucor from $154.00 to $167.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. The Goldman Sachs Group started coverage on Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 target price on the stock. Finally, StockNews.com upgraded Nucor from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $164.33.

Nucor Price Performance

NYSE:NUE opened at $129.51 on Friday. The firm has a market capitalization of $29.86 billion, a price-to-earnings ratio of 15.40, a P/E/G ratio of 0.96 and a beta of 1.58. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51. The stock has a fifty day moving average of $129.42 and a 200 day moving average of $138.69. Nucor Co. has a 52-week low of $112.25 and a 52-week high of $203.00.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.28. Nucor had a return on equity of 9.85% and a net margin of 6.60%. During the same quarter last year, the company earned $3.16 earnings per share. On average, research analysts expect that Nucor Co. will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Monday, March 31st. Nucor’s dividend payout ratio is currently 26.16%.

Nucor Company Profile

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.