CIBC Private Wealth Group LLC Buys 287 Shares of Nucor Co. (NYSE:NUE)

CIBC Private Wealth Group LLC boosted its stake in Nucor Co. (NYSE:NUE) by 1.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,218 shares of the basic materials company’s stock after purchasing an additional 287 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Nucor were worth $1,917,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in NUE. Townsquare Capital LLC boosted its stake in Nucor by 5.8% during the 3rd quarter. Townsquare Capital LLC now owns 4,622 shares of the basic materials company’s stock worth $695,000 after acquiring an additional 255 shares during the last quarter. Public Sector Pension Investment Board boosted its position in shares of Nucor by 9.9% during the third quarter. Public Sector Pension Investment Board now owns 10,000 shares of the basic materials company’s stock worth $1,503,000 after purchasing an additional 900 shares in the last quarter. Edgestream Partners L.P. acquired a new position in shares of Nucor in the 3rd quarter valued at $840,000. Erste Asset Management GmbH bought a new stake in shares of Nucor in the 3rd quarter valued at $1,493,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Nucor during the 3rd quarter worth $78,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Wall Street Analysts Forecast Growth

NUE has been the subject of several recent analyst reports. StockNews.com upgraded Nucor from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. Jefferies Financial Group raised their target price on shares of Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. UBS Group upgraded shares of Nucor from a “neutral” rating to a “buy” rating and upped their price target for the company from $156.00 to $160.00 in a report on Monday, March 24th. JPMorgan Chase & Co. raised their price objective on shares of Nucor from $150.00 to $156.00 and gave the stock an “overweight” rating in a report on Tuesday, March 11th. Finally, Citigroup reduced their target price on shares of Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $164.44.

Nucor Trading Up 3.0 %

Shares of NYSE:NUE opened at $123.29 on Thursday. The company’s 50-day moving average price is $130.82 and its two-hundred day moving average price is $136.86. Nucor Co. has a one year low of $112.25 and a one year high of $203.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48. The stock has a market capitalization of $28.42 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58.

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

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.78%. The ex-dividend date is Monday, March 31st. Nucor’s dividend payout ratio (DPR) is currently 26.16%.

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.