Samalin Investment Counsel LLC Invests $206,000 in Nucor Co. (NYSE:NUE)

Samalin Investment Counsel LLC acquired a new stake in Nucor Co. (NYSE:NUE – Get Rating) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 1,566 shares of the basic materials company’s stock, valued at approximately $206,000.

Other institutional investors also recently made changes to their positions in the company. Main Street Financial Solutions LLC lifted its position in shares of Nucor by 2.7% in the fourth quarter. Main Street Financial Solutions LLC now owns 2,676 shares of the basic materials company’s stock valued at $353,000 after buying an additional 71 shares during the last quarter. Sky Investment Group LLC increased its stake in Nucor by 3.7% during the 4th quarter. Sky Investment Group LLC now owns 2,018 shares of the basic materials company’s stock worth $266,000 after acquiring an additional 72 shares during the period. Lumature Wealth Partners LLC increased its stake in Nucor by 4.0% during the 3rd quarter. Lumature Wealth Partners LLC now owns 1,983 shares of the basic materials company’s stock worth $212,000 after acquiring an additional 76 shares during the period. Retirement Guys Formula LLC increased its stake in Nucor by 1.9% during the 3rd quarter. Retirement Guys Formula LLC now owns 4,135 shares of the basic materials company’s stock worth $442,000 after acquiring an additional 79 shares during the period. Finally, Equitable Holdings Inc. increased its stake in Nucor by 4.0% during the 3rd quarter. Equitable Holdings Inc. now owns 2,092 shares of the basic materials company’s stock worth $224,000 after acquiring an additional 81 shares during the period. 78.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. BMO Capital Markets lifted their price target on Nucor from $155.00 to $165.00 and gave the company a “market perform” rating in a research note on Friday, January 27th. Credit Suisse Group lifted their price target on Nucor from $140.00 to $156.00 and gave the company an “outperform” rating in a research note on Friday, March 17th. The Goldman Sachs Group lifted their price target on Nucor from $144.00 to $161.00 and gave the company a “neutral” rating in a research note on Friday, March 10th. UBS Group decreased their price target on Nucor from $145.00 to $140.00 in a research note on Friday, May 5th. Finally, StockNews.com assumed coverage on Nucor in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $148.88.

Nucor Trading Up 1.2 %

NUE traded up $1.62 during midday trading on Friday, hitting $136.31. 279,916 shares of the company were exchanged, compared to its average volume of 1,793,328. The firm has a market capitalization of $34.24 billion, a P/E ratio of 5.35 and a beta of 1.56. The company has a quick ratio of 2.28, a current ratio of 3.74 and a debt-to-equity ratio of 0.33. The firm’s 50 day moving average price is $145.40 and its 200-day moving average price is $150.34. Nucor Co. has a 1-year low of $100.13 and a 1-year high of $182.68.

Nucor (NYSE:NUE – Get Rating) last announced its quarterly earnings data on Thursday, April 20th. The basic materials company reported $4.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.81 by $0.64. The company had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.87 billion. Nucor had a return on equity of 34.91% and a net margin of 16.73%. The firm’s revenue was down 17.0% compared to the same quarter last year. During the same period in the previous year, the business earned $7.67 EPS. As a group, equities analysts forecast that Nucor Co. will post 17 EPS for the current fiscal year.

Nucor announced that its Board of Directors has approved a share repurchase plan on Thursday, May 11th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the basic materials company to repurchase up to 11.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Nucor Profile

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Nucor Corp. engages in the manufacturing of steel and steel products. It operates through the following segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment consists of carbon and alloy steel in sheet, bars, structural and plate, steel trading businesses, rebar distribution businesses, and Nucor’s equity method investments.