Cetera Advisors LLC Has $1.23 Million Stock Position in Nucor Co. (NYSE:NUE)

Cetera Advisors LLC increased its stake in Nucor Co. (NYSE:NUE) by 10.3% during the second quarter, Holdings Channel.com reports. The fund owned 7,520 shares of the basic materials company’s stock after buying an additional 700 shares during the period. Cetera Advisors LLC’s holdings in Nucor were worth $1,233,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NUE. Avalon Trust Co acquired a new position in shares of Nucor in the first quarter worth approximately $25,000. Providence Capital Advisors LLC lifted its stake in shares of Nucor by 15,470.4% in the first quarter. Providence Capital Advisors LLC now owns 4,204 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 4,177 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in shares of Nucor in the first quarter worth approximately $32,000. Kalos Management Inc. acquired a new position in shares of Nucor in the first quarter worth approximately $38,000. Finally, Quintet Private Bank Europe S.A. acquired a new position in Nucor in the first quarter valued at approximately $38,000. 77.76% of the stock is owned by institutional investors and hedge funds.

Nucor Trading Up 0.2 %

Shares of Nucor stock opened at $157.05 on Tuesday. The stock has a fifty day simple moving average of $152.75 and a 200 day simple moving average of $155.95. Nucor Co. has a 12-month low of $129.46 and a 12-month high of $182.68. The company has a market capitalization of $38.61 billion, a P/E ratio of 7.96 and a beta of 1.64. The company has a current ratio of 3.72, a quick ratio of 2.50 and a debt-to-equity ratio of 0.31.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Tuesday, October 24th. The basic materials company reported $4.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.19 by $0.38. The business had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.37 billion. Nucor had a return on equity of 24.38% and a net margin of 13.98%. Nucor’s revenue was down 16.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.50 earnings per share. On average, sell-side analysts anticipate that Nucor Co. will post 17.82 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Friday, September 29th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $2.04 annualized dividend and a dividend yield of 1.30%. Nucor’s payout ratio is 10.34%.

Analyst Upgrades and Downgrades

NUE has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised Nucor from an “underweight” rating to a “neutral” rating and set a $151.00 price target on the stock in a research note on Monday, October 16th. Morgan Stanley dropped their price target on Nucor from $162.00 to $154.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 31st. StockNews.com initiated coverage on Nucor in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, Citigroup boosted their price target on Nucor from $160.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, July 27th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $164.56.

Nucor Company Profile

Nucor Corporation engages in manufacture and sale of steel and steel products. The company's 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 products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products.