Cibc World Markets Corp Raises Stock Position in Nucor Co. (NYSE:NUE)

Cibc World Markets Corp boosted its position in shares of Nucor Co. (NYSE:NUE) by 293.4% in the fourth quarter, HoldingsChannel reports. The fund owned 127,347 shares of the basic materials company’s stock after purchasing an additional 94,980 shares during the quarter. Cibc World Markets Corp’s holdings in Nucor were worth $14,863,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV increased its position in shares of Nucor by 7.9% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 5,611 shares of the basic materials company’s stock worth $655,000 after purchasing an additional 409 shares in the last quarter. SlateStone Wealth LLC increased its position in Nucor by 2.2% during the 4th quarter. SlateStone Wealth LLC now owns 8,195 shares of the basic materials company’s stock valued at $956,000 after buying an additional 175 shares in the last quarter. GWN Securities Inc. acquired a new position in Nucor during the 4th quarter valued at about $565,000. Glenview Trust co boosted its holdings in Nucor by 162.3% in the fourth quarter. Glenview Trust co now owns 3,950 shares of the basic materials company’s stock worth $461,000 after acquiring an additional 2,444 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its stake in shares of Nucor by 6.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 9,404 shares of the basic materials company’s stock worth $1,098,000 after acquiring an additional 607 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. UBS Group reaffirmed a “neutral” rating and issued a $156.00 price objective (down from $171.00) on shares of Nucor in a research report on Thursday, December 12th. Argus set a $155.00 price objective on shares of Nucor in a research note on Wednesday, March 5th. StockNews.com raised shares of Nucor from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. Jefferies Financial Group raised their target price on Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. boosted their price target on Nucor from $150.00 to $156.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Nucor has a consensus rating of “Moderate Buy” and an average price target of $164.33.

Nucor Stock Performance

Shares of NUE stock opened at $129.49 on Tuesday. Nucor Co. has a 52-week low of $112.25 and a 52-week high of $203.00. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The stock has a market cap of $29.85 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58. The business has a 50-day simple moving average of $129.93 and a 200-day simple moving average of $138.27.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the firm earned $3.16 earnings per share. On average, equities analysts expect that Nucor Co. will post 7.64 EPS for the current year.

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be given a dividend of $0.55 per share. The ex-dividend date is Monday, March 31st. This represents a $2.20 annualized dividend and a yield of 1.70%. Nucor’s dividend payout ratio is presently 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.