Allianz SE Takes Position in Nucor Co. (NYSE:NUE)

Allianz SE purchased a new stake in shares of Nucor Co. (NYSE:NUE - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,920 shares of the basic materials company's stock, valued at approximately $338,000.

Several other institutional investors also recently bought and sold shares of NUE. Crews Bank & Trust purchased a new stake in Nucor during the 4th quarter worth $29,000. New Wave Wealth Advisors LLC acquired a new position in shares of Nucor during the fourth quarter worth about $33,000. Versant Capital Management Inc boosted its position in shares of Nucor by 60.3% in the fourth 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 period. Beacon Capital Management LLC grew its stake in shares of Nucor by 29.1% in the fourth 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 purchased a new stake in shares of Nucor during the 4th quarter valued at about $50,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Stock Performance

Shares of NYSE:NUE traded down $6.65 on Friday, hitting $103.14. The company's stock had a trading volume of 3,817,095 shares, compared to its average volume of 2,008,193. The company has a market capitalization of $23.78 billion, a price-to-earnings ratio of 12.26, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51. Nucor Co. has a 12 month low of $99.75 and a 12 month high of $203.00. The stock's 50-day moving average is $130.19 and its two-hundred day moving average is $136.40.

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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, beating the consensus estimate 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 posted $3.16 EPS. On average, equities research analysts forecast that Nucor Co. will post 7.64 EPS for the current year.

Nucor Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on NUE shares. Argus set a $155.00 target price on Nucor in a research report on Wednesday, March 5th. UBS Group upgraded Nucor from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $156.00 to $160.00 in a report on Monday, March 24th. Citigroup cut their target price on Nucor from $240.00 to $160.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Jefferies Financial Group raised their price target on shares of Nucor from $125.00 to $135.00 and gave the stock a "hold" rating in a research report on Wednesday, January 29th. Finally, Morgan Stanley set a $164.00 price objective on shares of Nucor in a research note on Monday, March 24th. Three research 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 stock. According to MarketBeat, Nucor presently has a consensus rating of "Moderate Buy" and an average price target 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.