Nucor Co. (NYSE:NUE) Holdings Raised by Apollon Wealth Management LLC

Apollon Wealth Management LLC grew its position in Nucor Co. (NYSE:NUE) by 4.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,512 shares of the basic materials company’s stock after acquiring an additional 254 shares during the quarter. Apollon Wealth Management LLC’s holdings in Nucor were worth $760,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. State Street Corp boosted its position in Nucor by 2.9% during the 3rd quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock valued at $1,724,117,000 after purchasing an additional 326,181 shares during the period. Geode Capital Management LLC boosted its position in Nucor by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,861,945 shares of the basic materials company’s stock valued at $883,732,000 after purchasing an additional 74,569 shares during the period. Pacer Advisors Inc. boosted its position in Nucor by 19.8% during the 3rd quarter. Pacer Advisors Inc. now owns 3,456,484 shares of the basic materials company’s stock valued at $519,648,000 after purchasing an additional 571,682 shares during the period. Nordea Investment Management AB boosted its position in Nucor by 25.6% during the 4th quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company’s stock valued at $205,282,000 after purchasing an additional 358,721 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Nucor by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,612,216 shares of the basic materials company’s stock valued at $242,381,000 after purchasing an additional 45,467 shares during the period. 76.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NUE has been the subject of a number of analyst reports. The Goldman Sachs Group initiated coverage on Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 price target for the company. UBS Group reiterated a “neutral” rating and set a $156.00 price target (down previously from $171.00) on shares of Nucor in a research report on Thursday, December 12th. JPMorgan Chase & Co. reduced their price target on Nucor from $152.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Jefferies Financial Group boosted their price target on Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Finally, StockNews.com upgraded Nucor from a “sell” rating to a “hold” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $163.13.

Nucor Trading Down 3.2 %

Shares of NUE opened at $133.63 on Thursday. 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 Co. has a 1-year low of $112.25 and a 1-year high of $203.00. The stock has a market capitalization of $31.38 billion, a P/E ratio of 15.89 and a beta of 1.60. The business’s 50-day moving average price is $125.50 and its 200 day moving average price is $140.71.

Nucor (NYSE:NUE) last released 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 net margin of 6.60% and a return on equity of 9.85%. During the same quarter last year, the company earned $3.16 EPS. Analysts expect that Nucor Co. will post 7.88 earnings per share for the current year.

Nucor Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 11th. Investors of record on Tuesday, December 31st were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.65%. This is a positive change from Nucor’s previous quarterly dividend of $0.54. The ex-dividend date was Tuesday, December 31st. Nucor’s payout ratio is presently 26.16%.

Nucor Company 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.