KLP Kapitalforvaltning AS Takes $15.35 Million Position in Nucor Co. (NYSE:NUE)

KLP Kapitalforvaltning AS bought a new position in Nucor Co. (NYSE:NUE - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 131,020 shares of the basic materials company's stock, valued at approximately $15,353,000. KLP Kapitalforvaltning AS owned about 0.06% of Nucor as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. State Street Corp boosted its position 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 during the period. Geode Capital Management LLC lifted its stake in 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 during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Nucor by 25.6% during 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 acquiring an additional 358,721 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Nucor by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,680,468 shares of the basic materials company's stock worth $196,127,000 after acquiring an additional 68,252 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Nucor by 6.6% in 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 period. 76.48% of the stock is currently owned by institutional investors and hedge funds.

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Nucor Price Performance

Nucor stock traded down $5.57 during midday trading on Friday, hitting $121.90. The company's stock had a trading volume of 2,736,479 shares, compared to its average volume of 1,972,397. Nucor Co. has a 12 month low of $112.25 and a 12 month high of $203.00. 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 company has a market capitalization of $28.10 billion, a PE ratio of 14.50, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58. The stock's 50-day moving average price is $130.98 and its 200-day moving average price is $137.29.

Nucor (NYSE:NUE - Get Free Report) last released its earnings results 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 period in the prior year, the company posted $3.16 EPS. Analysts anticipate that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Monday, March 31st. Nucor's dividend payout ratio (DPR) is presently 26.16%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. StockNews.com raised shares of Nucor from a "sell" rating to a "hold" rating in a research note on Wednesday, February 12th. The Goldman Sachs Group initiated coverage on Nucor in a research report on Monday, December 2nd. They set a "buy" rating and a $190.00 price objective for the company. UBS Group raised Nucor from a "neutral" rating to a "buy" rating and lifted their target price for the company from $156.00 to $160.00 in a research note on Monday. JPMorgan Chase & Co. boosted their price target on Nucor from $150.00 to $156.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 11th. Finally, Jefferies Financial Group raised their price target on Nucor from $125.00 to $135.00 and gave the company a "hold" rating in a report on Wednesday, January 29th. 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 data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $164.44.

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.