Corient Private Wealth LLC Sells 11,230 Shares of Nucor Co. (NYSE:NUE)

Corient Private Wealth LLC reduced its position in Nucor Co. (NYSE:NUE) by 13.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,272 shares of the basic materials company’s stock after selling 11,230 shares during the quarter. Corient Private Wealth LLC’s holdings in Nucor were worth $8,318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. boosted its holdings in Nucor by 19.8% in the 3rd quarter. Pacer Advisors Inc. now owns 3,456,484 shares of the basic materials company’s stock worth $519,648,000 after buying an additional 571,682 shares during the period. Nordea Investment Management AB lifted its position in shares of Nucor by 25.6% in the fourth quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company’s stock valued at $205,282,000 after acquiring an additional 358,721 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Nucor in the fourth quarter worth about $38,714,000. State Street Corp grew its position in shares of Nucor by 2.9% during the third quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock worth $1,724,117,000 after purchasing an additional 326,181 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Nucor during the 3rd quarter valued at approximately $46,731,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Trading Down 1.2 %

NUE opened at $129.42 on Friday. Nucor Co. has a 12 month low of $112.25 and a 12 month high of $203.00. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average of $130.59 and a 200 day moving average of $138.01. The firm has a market cap of $29.84 billion, a P/E ratio of 15.39, a P/E/G 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 for the quarter, beating 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 in the prior year, the company posted $3.16 EPS. As a group, research analysts forecast that Nucor Co. will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Monday, March 31st. Nucor’s dividend payout ratio is currently 26.16%.

Analysts Set New Price Targets

Several research analysts have weighed in on NUE shares. JPMorgan Chase & Co. upped their price target on Nucor from $150.00 to $156.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. The Goldman Sachs Group began coverage on shares of Nucor in a research note on Monday, December 2nd. They set a “buy” rating and a $190.00 target price for the company. Citigroup decreased their price target on shares of Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Argus set a $155.00 target price on Nucor in a report on Wednesday, March 5th. Finally, StockNews.com upgraded Nucor from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $164.33.

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.