New Age Alpha Advisors LLC Makes New $1.96 Million Investment in Nucor Co. (NYSE:NUE)

New Age Alpha Advisors LLC bought a new position in Nucor Co. (NYSE:NUE) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 16,803 shares of the basic materials company’s stock, valued at approximately $1,961,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Horrell Capital Management Inc. boosted its stake in Nucor by 0.3% in the 4th quarter. Horrell Capital Management Inc. now owns 26,657 shares of the basic materials company’s stock worth $3,111,000 after purchasing an additional 76 shares during the period. TCI Wealth Advisors Inc. lifted its holdings in shares of Nucor by 4.4% in the fourth quarter. TCI Wealth Advisors Inc. now owns 2,157 shares of the basic materials company’s stock valued at $252,000 after purchasing an additional 91 shares in the last quarter. Jessup Wealth Management Inc lifted its holdings in shares of Nucor by 0.9% in the fourth quarter. Jessup Wealth Management Inc now owns 10,528 shares of the basic materials company’s stock valued at $1,229,000 after purchasing an additional 93 shares in the last quarter. Redwood Investment Management LLC boosted its position in shares of Nucor by 1.0% in the third quarter. Redwood Investment Management LLC now owns 9,092 shares of the basic materials company’s stock worth $1,365,000 after buying an additional 94 shares during the period. Finally, Beacon Capital Management LLC grew its holdings in shares of Nucor by 29.1% during the fourth quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company’s stock valued at $49,000 after buying an additional 94 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Stock Down 4.4 %

NUE stock opened at $121.90 on Monday. The firm has a market cap of $28.10 billion, a PE ratio of 14.50, a PEG ratio of 0.96 and a beta of 1.58. Nucor Co. has a 1 year low of $112.25 and a 1 year high of $203.00. The company has a fifty day simple moving average of $130.98 and a 200 day simple moving average of $137.27. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27.

Nucor (NYSE:NUE) last released 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 in the prior year, the firm posted $3.16 earnings per share. Sell-side analysts anticipate 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. Investors of record on Monday, March 31st will be issued a $0.55 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.20 annualized dividend and a yield of 1.80%. Nucor’s dividend payout ratio (DPR) is presently 26.16%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group started coverage on Nucor in a research note on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective for the company. JPMorgan Chase & Co. increased their price target on shares of Nucor from $150.00 to $156.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 11th. Morgan Stanley set a $164.00 price objective on shares of Nucor in a research report on Monday, March 24th. Citigroup dropped their price objective on shares of Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, Argus set a $155.00 target price on shares of Nucor in a research note on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating, six 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 stock has a consensus rating of “Moderate Buy” and an average price target of $164.44.

Nucor 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.