Independent Advisor Alliance Has $1.82 Million Holdings in Nucor Co. (NYSE:NUE)

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

Other hedge funds and other institutional investors have also bought and sold shares of the company. Daiwa Securities Group Inc. grew its holdings in shares of Nucor by 19.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 61,549 shares of the basic materials company’s stock worth $7,183,000 after purchasing an additional 9,810 shares during the last quarter. Moran Wealth Management LLC boosted its position in Nucor by 3.8% during the 4th quarter. Moran Wealth Management LLC now owns 4,766 shares of the basic materials company’s stock worth $556,000 after buying an additional 176 shares during the period. OFI Invest Asset Management bought a new stake in Nucor during the 4th quarter worth approximately $25,906,000. Barings LLC increased its position in Nucor by 36.1% in the 4th quarter. Barings LLC now owns 55,242 shares of the basic materials company’s stock valued at $6,447,000 after acquiring an additional 14,650 shares during the period. Finally, Arjuna Capital raised its stake in shares of Nucor by 1.3% during the fourth quarter. Arjuna Capital now owns 24,772 shares of the basic materials company’s stock valued at $2,891,000 after acquiring an additional 312 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on NUE shares. Jefferies Financial Group increased their price objective on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. StockNews.com raised Nucor from a “sell” rating to a “hold” rating in a research note on Wednesday, February 12th. The Goldman Sachs Group assumed coverage on Nucor in a research note on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective on the stock. Argus set a $155.00 target price on shares of Nucor in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. boosted 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. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.33.

Nucor Stock Performance

Shares of Nucor stock opened at $129.51 on Friday. The business has a 50-day simple moving average of $129.42 and a 200 day simple moving average of $138.69. The firm has a market capitalization of $29.86 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 0.96 and a beta of 1.58. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48. Nucor Co. has a one year low of $112.25 and a one year high of $203.00.

Nucor (NYSE:NUE) last issued its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates 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 business earned $3.16 EPS. On average, research analysts anticipate that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 1.70%. Nucor’s dividend payout ratio is presently 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.