Peapack Gladstone Financial Corp Sells 1,030 Shares of Nucor Co. (NYSE:NUE)

Peapack Gladstone Financial Corp reduced its stake in shares of Nucor Co. (NYSE:NUE) by 1.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 86,500 shares of the basic materials company’s stock after selling 1,030 shares during the period. Peapack Gladstone Financial Corp’s holdings in Nucor were worth $10,095,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Everence Capital Management Inc. bought a new stake in Nucor in the 4th quarter valued at $565,000. Geode Capital Management LLC raised its stake in shares of Nucor by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 5,861,945 shares of the basic materials company’s stock valued at $883,732,000 after purchasing an additional 74,569 shares during the period. InvesTrust bought a new stake in shares of Nucor in the fourth quarter valued at about $4,388,000. Wellington Management Group LLP grew its holdings in shares of Nucor by 15.8% during the third quarter. Wellington Management Group LLP now owns 249,984 shares of the basic materials company’s stock worth $37,583,000 after buying an additional 34,149 shares in the last quarter. Finally, Stephens Inc. AR grew its holdings in shares of Nucor by 38.0% during the fourth quarter. Stephens Inc. AR now owns 8,455 shares of the basic materials company’s stock worth $987,000 after buying an additional 2,327 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Argus set a $155.00 price target on Nucor in a research report on Wednesday, March 5th. UBS Group raised shares of Nucor from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $156.00 to $160.00 in a research report on Monday, March 24th. Citigroup decreased their target price on shares of Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Morgan Stanley set a $164.00 price target on shares of Nucor in a research report on Monday, March 24th. Finally, JPMorgan Chase & Co. raised their price objective on Nucor from $150.00 to $156.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Nucor currently has an average rating of “Moderate Buy” and a consensus price target of $164.44.

Nucor Stock Performance

NUE opened at $103.14 on Monday. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The stock has a market cap of $23.78 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 0.96 and a beta of 1.67. Nucor Co. has a 12-month low of $95.70 and a 12-month high of $203.00. The business has a 50 day moving average of $130.19 and a 200-day moving average of $136.31.

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

Nucor Dividend Announcement

The business 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. The ex-dividend date is Monday, March 31st. This represents a $2.20 annualized dividend and a yield of 2.13%. Nucor’s dividend payout ratio (DPR) is presently 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.