Glenview Trust co Has $461,000 Position in Nucor Co. (NYSE:NUE)

Glenview Trust co boosted its position in shares of Nucor Co. (NYSE:NUE) by 162.3% in the fourth quarter, Holdings Channel reports. The firm owned 3,950 shares of the basic materials company’s stock after purchasing an additional 2,444 shares during the period. Glenview Trust co’s holdings in Nucor were worth $461,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Widmann Financial Services Inc. lifted its stake in Nucor by 4.0% in the third quarter. Widmann Financial Services Inc. now owns 1,800 shares of the basic materials company’s stock valued at $271,000 after buying an additional 70 shares in the last quarter. Citizens Financial Group Inc. RI lifted its stake in Nucor by 1.7% in the third quarter. Citizens Financial Group Inc. RI now owns 4,629 shares of the basic materials company’s stock valued at $696,000 after buying an additional 79 shares in the last quarter. TCI Wealth Advisors Inc. lifted its stake in 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 buying an additional 91 shares in the last quarter. Jessup Wealth Management Inc lifted its stake in 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 buying an additional 93 shares in the last quarter. Finally, Redwood Investment Management LLC lifted its stake in Nucor by 1.0% in the third quarter. Redwood Investment Management LLC now owns 9,092 shares of the basic materials company’s stock valued at $1,365,000 after buying an additional 94 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on NUE shares. Morgan Stanley lifted their price target on shares of Nucor from $154.00 to $167.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Jefferies Financial Group boosted their price objective on shares of 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 assumed coverage on shares of Nucor in a research report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective 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. Finally, Citigroup cut their price objective on shares of Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Nucor currently has a consensus rating of “Moderate Buy” and an average target price of $164.33.

Nucor Price Performance

Shares of NUE opened at $129.49 on Tuesday. The company has a market cap of $29.85 billion, a price-to-earnings ratio of 15.40, 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’s fifty day simple moving average is $129.93 and its 200 day simple moving average is $138.27. 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 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 net margin of 6.60% and a return on equity of 9.85%. During the same quarter in the prior year, the business earned $3.16 EPS. On average, research analysts forecast that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders 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 1.70%. Nucor’s dividend payout ratio is currently 26.16%.

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.