CreativeOne Wealth LLC Takes Position in Nucor Co. (NYSE:NUE)

CreativeOne Wealth LLC purchased a new stake in shares of Nucor Co. (NYSE:NUE) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,614 shares of the basic materials company’s stock, valued at approximately $1,111,000.

Other large investors have also made changes to their positions in the company. Rise Advisors LLC acquired a new position in Nucor in the first quarter valued at about $27,000. Chilton Capital Management LLC lifted its stake in Nucor by 94.2% in the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after buying an additional 65 shares during the period. Central Pacific Bank Trust Division acquired a new position in Nucor in the first quarter valued at about $28,000. Criterion Capital Advisors LLC acquired a new position in Nucor in the fourth quarter valued at about $25,000. Finally, Tompkins Financial Corp lifted its stake in Nucor by 208.0% in the first quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after buying an additional 104 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Stock Up 2.5 %

Shares of NYSE:NUE traded up $3.87 during mid-day trading on Friday, reaching $160.89. 1,252,823 shares of the stock were exchanged, compared to its average volume of 1,532,657. The company has a quick ratio of 2.48, a current ratio of 2.93 and a debt-to-equity ratio of 0.26. The company has a market cap of $38.57 billion, a P/E ratio of 9.46 and a beta of 1.57. Nucor Co. has a one year low of $140.07 and a one year high of $203.00. The stock’s 50 day simple moving average is $160.47 and its 200-day simple moving average is $175.58.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.37. The business had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $7.69 billion. Nucor had a return on equity of 15.69% and a net margin of 10.45%. Nucor’s quarterly revenue was down 15.2% on a year-over-year basis. During the same period last year, the company earned $5.81 earnings per share. As a group, equities research analysts predict that Nucor Co. will post 10.64 EPS for the current year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, June 28th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.34%. Nucor’s payout ratio is presently 12.71%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. StockNews.com lowered Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Bank of America lowered their price target on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. BMO Capital Markets lowered their price target on Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a report on Monday, June 17th. Jefferies Financial Group initiated coverage on Nucor in a report on Monday, May 20th. They issued a “hold” rating and a $190.00 price target for the company. Finally, JPMorgan Chase & Co. lowered their price target on Nucor from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Tuesday, July 16th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $191.29.

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.