Meridian Wealth Management LLC Has $322,000 Holdings in Nucor Co. (NYSE:NUE)

Meridian Wealth Management LLC lessened its stake in Nucor Co. (NYSE:NUE) by 3.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,755 shares of the basic materials company’s stock after selling 89 shares during the quarter. Meridian Wealth Management LLC’s holdings in Nucor were worth $322,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC acquired a new stake in shares of Nucor during the 3rd quarter worth approximately $26,000. Coastline Trust Co acquired a new stake in shares of Nucor during the 3rd quarter worth approximately $29,000. Crews Bank & Trust acquired a new stake in shares of Nucor during the 4th quarter worth approximately $29,000. New Wave Wealth Advisors LLC acquired a new stake in shares of Nucor during the 4th quarter worth approximately $33,000. Finally, Versant Capital Management Inc grew its position in shares of Nucor by 60.3% during the 4th quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock worth $35,000 after buying an additional 114 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Stock Performance

Shares of NUE opened at $132.51 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51. Nucor Co. has a twelve month low of $112.25 and a twelve month high of $203.00. The firm’s 50 day moving average price is $127.75 and its two-hundred day moving average price is $139.27. The firm has a market cap of $31.11 billion, a P/E ratio of 15.76, a PEG ratio of 0.96 and a beta of 1.60.

Nucor (NYSE:NUE) last announced 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 last year, the company earned $3.16 EPS. On average, analysts forecast that Nucor Co. will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Monday, March 31st. Nucor’s dividend payout ratio is presently 26.16%.

Wall Street Analysts Forecast Growth

NUE has been the subject of several analyst reports. Morgan Stanley lowered their price target on shares of Nucor from $166.00 to $154.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Jefferies Financial Group lifted their price target on shares of Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Citigroup decreased their price objective on shares of 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. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Nucor from $152.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $163.13.

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.