Sequoia Financial Advisors LLC Has $1.29 Million Stake in Nucor Co. (NYSE:NUE)

Sequoia Financial Advisors LLC boosted its holdings in shares of Nucor Co. (NYSE:NUE) by 83.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 7,400 shares of the basic materials company’s stock after purchasing an additional 3,357 shares during the period. Sequoia Financial Advisors LLC’s holdings in Nucor were worth $1,288,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Nucor in the 3rd quarter valued at approximately $25,000. Providence Capital Advisors LLC boosted its holdings in shares of Nucor by 15,470.4% during the 1st quarter. Providence Capital Advisors LLC now owns 4,204 shares of the basic materials company’s stock worth $27,000 after buying an additional 4,177 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in Nucor in the 1st quarter valued at $32,000. Valley National Advisers Inc. raised its holdings in Nucor by 716.7% in the 4th quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 172 shares during the period. Finally, OFI Invest Asset Management acquired a new position in Nucor during the 3rd quarter worth $40,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

NUE has been the topic of a number of recent analyst reports. StockNews.com upgraded Nucor from a “hold” rating to a “buy” rating in a research note on Wednesday. Citigroup raised Nucor from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. Finally, UBS Group started coverage on Nucor in a research report on Tuesday, January 16th. They issued a “buy” rating and a $210.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $186.67.

Insider Activity

In other Nucor news, EVP Allen C. Behr sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total value of $1,901,900.00. Following the completion of the sale, the executive vice president now owns 80,902 shares of the company’s stock, valued at $15,386,751.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Nucor news, insider Michael D. Keller sold 3,145 shares of Nucor stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total value of $609,092.15. Following the transaction, the insider now owns 24,873 shares of the company’s stock, valued at $4,817,153.91. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Allen C. Behr sold 10,000 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $190.19, for a total transaction of $1,901,900.00. Following the sale, the executive vice president now owns 80,902 shares in the company, valued at $15,386,751.38. The disclosure for this sale can be found here. Insiders sold a total of 38,151 shares of company stock valued at $7,308,683 in the last ninety days. 0.46% of the stock is owned by insiders.

Nucor Price Performance

Shares of NUE stock opened at $194.53 on Friday. The company has a market capitalization of $46.68 billion, a P/E ratio of 10.81 and a beta of 1.61. The company has a current ratio of 3.57, a quick ratio of 2.35 and a debt-to-equity ratio of 0.30. The stock has a 50 day moving average of $190.42 and a two-hundred day moving average of $172.43. Nucor Co. has a 12 month low of $129.79 and a 12 month high of $203.00.

Nucor (NYSE:NUE) last announced its earnings results on Monday, January 29th. The basic materials company reported $3.16 EPS for the quarter, topping the consensus estimate of $2.83 by $0.33. The company had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.64 billion. Nucor had a return on equity of 21.42% and a net margin of 13.03%. The business’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.89 earnings per share. As a group, equities analysts expect that Nucor Co. will post 13 EPS for the current year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.54 per share. The ex-dividend date is Wednesday, March 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.11%. Nucor’s payout ratio is currently 12.01%.

About Nucor

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.