Mirador Capital Partners LP Purchases 439 Shares of Nucor Co. (NYSE:NUE)

Mirador Capital Partners LP boosted its holdings in Nucor Co. (NYSE:NUE) by 8.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,689 shares of the basic materials company’s stock after acquiring an additional 439 shares during the quarter. Mirador Capital Partners LP’s holdings in Nucor were worth $664,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Ashton Thomas Securities LLC bought a new stake in Nucor in the 3rd quarter worth about $26,000. Coastline Trust Co purchased a new position in Nucor during the third quarter valued at approximately $29,000. Brown Lisle Cummings Inc. purchased a new stake in shares of Nucor in the third quarter worth $30,000. Salomon & Ludwin LLC raised its position in shares of Nucor by 45.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 72 shares during the period. Finally, Carolina Wealth Advisors LLC bought a new position in Nucor in the 3rd quarter worth $43,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price objective on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. The Goldman Sachs Group began coverage on Nucor in a report on Monday, December 2nd. They set a “buy” rating and a $190.00 price target for the company. BMO Capital Markets reduced their price target on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 18th. Morgan Stanley decreased their target price on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, Jefferies Financial Group reduced their price objective on Nucor from $150.00 to $125.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. Four 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $165.63.

Insider Activity

In related news, CFO Stephen D. Laxton sold 4,712 shares of Nucor stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total transaction of $798,825.36. Following the completion of the sale, the chief financial officer now owns 82,132 shares of the company’s stock, valued at $13,923,837.96. The trade was a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kenneth Rex Query sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the completion of the sale, the executive vice president now owns 98,770 shares in the company, valued at approximately $14,499,436. This represents a 8.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,680 shares of company stock worth $4,773,724. Corporate insiders own 0.64% of the company’s stock.

Nucor Stock Performance

NUE stock opened at $123.44 on Thursday. Nucor Co. has a twelve month low of $112.25 and a twelve month high of $203.00. The business’s fifty day simple moving average is $135.85 and its two-hundred day simple moving average is $145.10. The firm has a market cap of $28.98 billion, a price-to-earnings ratio of 11.93 and a beta of 1.60. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.09. The firm had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. Nucor’s quarterly revenue was down 15.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.57 earnings per share. Analysts predict that Nucor Co. will post 8.19 earnings per share for the current year.

Nucor Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Tuesday, December 31st. This is a boost from Nucor’s previous quarterly dividend of $0.54. Nucor’s dividend payout ratio is presently 21.26%.

Nucor 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.