KCM Investment Advisors LLC Lowers Position in Nucor Co. (NYSE:NUE)

KCM Investment Advisors LLC trimmed its holdings in shares of Nucor Co. (NYSE:NUE) by 64.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,645 shares of the basic materials company’s stock after selling 15,862 shares during the quarter. KCM Investment Advisors LLC’s holdings in Nucor were worth $1,009,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Crews Bank & Trust purchased a new position in shares of Nucor during the fourth quarter worth about $29,000. New Wave Wealth Advisors LLC purchased a new position in Nucor in the 4th quarter worth approximately $33,000. Versant Capital Management Inc increased its holdings in shares of Nucor by 60.3% in 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 last quarter. Beacon Capital Management LLC raised its position in shares of Nucor by 29.1% during the 4th quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company’s stock valued at $49,000 after buying an additional 94 shares in the last quarter. Finally, Millstone Evans Group LLC bought a new stake in shares of Nucor during the 4th quarter worth $50,000. 76.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NUE has been the topic of a number of research reports. UBS Group upgraded Nucor from a “neutral” rating to a “buy” rating and raised their price target for the company from $156.00 to $160.00 in a research report on Monday, March 24th. Citigroup decreased their price objective on Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Argus set a $155.00 target price on Nucor in a research note on Wednesday, March 5th. JPMorgan Chase & Co. lifted their price target on shares of Nucor from $150.00 to $156.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Finally, StockNews.com raised shares of Nucor from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $164.44.

Nucor Trading Down 6.1 %

Shares of NUE opened at $103.14 on Friday. Nucor Co. has a 1-year low of $99.77 and a 1-year high of $203.00. The firm has a market capitalization of $23.78 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 0.96 and a beta of 1.67. The firm’s 50-day moving average price is $130.19 and its 200-day moving average price is $136.36. 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 (NYSE:NUE) last posted its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.28. Nucor had a return on equity of 9.85% and a net margin of 6.60%. During the same quarter in the prior year, the business posted $3.16 EPS. Sell-side analysts anticipate that Nucor Co. will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.13%. The ex-dividend date is Monday, March 31st. Nucor’s dividend payout ratio is currently 26.16%.

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.