OneAscent Wealth Management LLC Grows Position in Nucor Co. (NYSE:NUE)

OneAscent Wealth Management LLC boosted its stake in Nucor Co. (NYSE:NUE) by 17.2% in the first quarter, Holdings Channel.com reports. The firm owned 1,864 shares of the basic materials company’s stock after acquiring an additional 274 shares during the quarter. OneAscent Wealth Management LLC’s holdings in Nucor were worth $369,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of NUE. Criterion Capital Advisors LLC purchased a new stake in Nucor in the fourth quarter valued at approximately $25,000. Rise Advisors LLC purchased a new stake in Nucor in the first quarter valued at approximately $27,000. Tompkins Financial Corp lifted its position in Nucor by 208.0% during the first quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after buying an additional 104 shares in the last quarter. Fortitude Family Office LLC lifted its position in Nucor by 54.1% during the first quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock valued at $33,000 after buying an additional 59 shares in the last quarter. Finally, Valley National Advisers Inc. lifted its position in Nucor by 716.7% during the fourth quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock valued at $34,000 after buying an additional 172 shares in the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NUE. Citigroup raised shares of Nucor from a “neutral” rating to a “buy” rating and lifted their price target for the company from $180.00 to $240.00 in a research report on Wednesday, March 13th. Bank of America reduced their price target on shares of Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday. StockNews.com cut shares of Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. reduced their price target on shares of Nucor from $190.00 to $180.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 11th. Finally, BMO Capital Markets reduced their target price on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a research report on Monday, June 17th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $189.67.

Nucor Stock Up 2.5 %

Shares of NYSE NUE traded up $3.90 during trading on Friday, reaching $158.08. 3,517,842 shares of the stock were exchanged, compared to its average volume of 1,678,765. The business’s 50-day moving average price is $166.46 and its 200 day moving average price is $177.69. Nucor Co. has a twelve month low of $140.07 and a twelve month high of $203.00. The company has a quick ratio of 2.48, a current ratio of 4.02 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $37.90 billion, a price-to-earnings ratio of 9.30 and a beta of 1.60.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.62 by ($0.16). The company had revenue of $8.14 billion during the quarter, compared to analyst estimates of $8.26 billion. Nucor had a net margin of 12.40% and a return on equity of 19.62%. The company’s revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the company earned $4.45 earnings per share. As a group, equities analysts forecast that Nucor Co. will post 10.84 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, June 28th will be issued a $0.54 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.16 annualized dividend and a yield of 1.37%. Nucor’s dividend payout ratio is presently 12.71%.

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.