Cary Street Partners Financial LLC Makes New $333,000 Investment in Nucor Co. (NYSE:NUE)

Cary Street Partners Financial LLC bought a new position in shares of Nucor Co. (NYSE:NUE - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,849 shares of the basic materials company's stock, valued at approximately $333,000.

Several other institutional investors have also recently made changes to their positions in NUE. Hudson Valley Investment Advisors Inc. ADV boosted its stake in Nucor by 5.4% in the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 33,339 shares of the basic materials company's stock worth $3,891,000 after purchasing an additional 1,708 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Nucor by 0.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 61,438 shares of the basic materials company's stock worth $7,170,000 after buying an additional 415 shares in the last quarter. Czech National Bank boosted its position in shares of Nucor by 5.3% in the fourth quarter. Czech National Bank now owns 50,913 shares of the basic materials company's stock valued at $5,942,000 after acquiring an additional 2,565 shares during the period. Capital Investment Advisors LLC boosted its position in shares of Nucor by 339.2% in the fourth quarter. Capital Investment Advisors LLC now owns 6,157 shares of the basic materials company's stock valued at $719,000 after acquiring an additional 4,755 shares during the period. Finally, Eastern Bank grew its stake in Nucor by 13.7% during the fourth quarter. Eastern Bank now owns 2,283 shares of the basic materials company's stock valued at $266,000 after acquiring an additional 275 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company's stock.

Nucor Price Performance

NUE traded up $4.80 during midday trading on Monday, hitting $120.02. The stock had a trading volume of 2,247,771 shares, compared to its average volume of 2,097,045. Nucor Co. has a 1 year low of $97.59 and a 1 year high of $176.59. 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 business has a fifty day moving average of $118.80 and a 200 day moving average of $129.18. The company has a market cap of $27.67 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 0.96 and a beta of 1.73.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.15). Nucor had a net margin of 6.60% and a return on equity of 9.85%. The business had revenue of $7.83 billion during the quarter, compared to analysts' expectations of $7.25 billion. During the same period last year, the company posted $3.46 EPS. Nucor's revenue for the quarter was down 3.8% on a year-over-year basis. As a group, equities analysts forecast that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be issued a $0.55 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.20 annualized dividend and a dividend yield of 1.83%. Nucor's dividend payout ratio is currently 39.15%.

Insider Activity

In other Nucor news, CEO Leon J. Topalian sold 34,238 shares of Nucor stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $120.19, for a total value of $4,115,065.22. Following the transaction, the chief executive officer now directly owns 162,993 shares of the company's stock, valued at $19,590,128.67. The trade was a 17.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on NUE. StockNews.com downgraded shares of Nucor from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. Morgan Stanley set a $164.00 price objective on Nucor in a research note on Monday, March 24th. Jefferies Financial Group boosted their target price on Nucor from $125.00 to $135.00 and gave the stock a "hold" rating in a research report on Wednesday, January 29th. The Goldman Sachs Group lowered their price target on Nucor from $175.00 to $169.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Finally, Argus set a $155.00 price objective on Nucor in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Nucor presently has an average rating of "Moderate Buy" and an average price target of $160.33.

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.