Envestnet Portfolio Solutions Inc. Has $1.10 Million Holdings in Nucor Co. (NYSE:NUE)

Envestnet Portfolio Solutions Inc. raised its position in shares of Nucor Co. (NYSE:NUE) by 6.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of NUE. State Street Corp increased its holdings in Nucor by 2.9% during the 3rd quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock valued at $1,724,117,000 after purchasing an additional 326,181 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Nucor by 1.3% in the third quarter. Geode Capital Management LLC now owns 5,861,945 shares of the basic materials company’s stock valued at $883,732,000 after buying an additional 74,569 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Nucor by 25.6% in the fourth quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company’s stock valued at $205,282,000 after buying an additional 358,721 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Nucor by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,680,468 shares of the basic materials company’s stock valued at $196,127,000 after buying an additional 68,252 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Nucor by 6.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,679,176 shares of the basic materials company’s stock worth $195,977,000 after acquiring an additional 104,238 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Price Performance

Nucor stock opened at $122.02 on Friday. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $28.13 billion, a P/E ratio of 14.51, a PEG ratio of 0.96 and a beta of 1.58. The business has a 50-day moving average of $130.65 and a 200-day moving average of $137.75. Nucor Co. has a 1 year low of $112.25 and a 1 year high of $203.00.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 EPS 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 previous year, the company posted $3.16 earnings per share. On average, equities analysts anticipate that Nucor Co. will post 7.64 EPS for the current year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.20 annualized dividend and a dividend yield of 1.80%. Nucor’s dividend payout ratio is currently 26.16%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of Nucor from $154.00 to $167.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. JPMorgan Chase & Co. upped their price objective on Nucor from $150.00 to $156.00 and gave the stock an “overweight” rating in a report on Tuesday, March 11th. The Goldman Sachs Group started coverage on Nucor in a research report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective on the stock. Argus set a $155.00 target price on Nucor in a research report on Wednesday, March 5th. Finally, Citigroup decreased their price target on Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Nucor presently has a consensus rating of “Moderate Buy” and an average price target of $164.33.

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.