Envestnet Portfolio Solutions Inc. Buys 607 Shares of Nucor Co. (NYSE:NUE)

Envestnet Portfolio Solutions Inc. grew its stake in shares of Nucor Co. (NYSE:NUE) by 6.9% during the 4th quarter, Holdings Channel reports. The firm owned 9,404 shares of the basic materials company’s stock after buying an additional 607 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Nucor were worth $1,098,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Choate Investment Advisors raised its position in Nucor by 3.7% during the fourth quarter. Choate Investment Advisors now owns 6,451 shares of the basic materials company’s stock worth $753,000 after acquiring an additional 231 shares in the last quarter. Madison Investment Advisors LLC acquired a new position in shares of Nucor during the 4th quarter worth about $252,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Nucor in the 4th quarter valued at about $4,150,000. Essential Planning LLC. bought a new position in Nucor during the fourth quarter worth about $812,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Nucor by 51.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,093 shares of the basic materials company’s stock worth $128,000 after purchasing an additional 370 shares during the period. Institutional investors own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NUE. Morgan Stanley raised their price objective on Nucor from $154.00 to $167.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Citigroup cut their price target on Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, December 19th. StockNews.com upgraded shares of Nucor from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. The Goldman Sachs Group initiated 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. Finally, Jefferies Financial Group upped their price target on shares of Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Nucor currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.33.

Nucor Price Performance

Shares of Nucor stock opened at $122.02 on Friday. 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 capitalization of $28.13 billion, a price-to-earnings ratio of 14.51, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58. Nucor Co. has a twelve month low of $112.25 and a twelve month high of $203.00. The company has a 50-day simple moving average of $130.65 and a two-hundred day simple moving average of $137.75.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share 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 period in the prior year, the business earned $3.16 earnings per share. Analysts forecast that Nucor Co. will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Monday, March 31st. Nucor’s dividend payout ratio (DPR) is currently 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.