Nucor Co. (NYSE:NUE) Stake Lowered by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its position in shares of Nucor Co. (NYSE:NUE - Free Report) by 8.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 117,652 shares of the basic materials company's stock after selling 10,998 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.05% of Nucor worth $13,497,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in Nucor during the third quarter valued at about $26,000. Coastline Trust Co purchased a new stake in shares of Nucor in the third quarter worth about $29,000. Crews Bank & Trust purchased a new stake in shares of Nucor in the fourth quarter worth about $29,000. Brown Lisle Cummings Inc. purchased a new stake in shares of Nucor in the third quarter worth about $30,000. Finally, New Wave Wealth Advisors LLC purchased a new stake in shares of Nucor in the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 76.48% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. StockNews.com raised Nucor from a "sell" rating to a "hold" rating in a research report on Wednesday, February 12th. UBS Group reaffirmed a "neutral" rating and issued a $156.00 target price (down previously from $171.00) on shares of Nucor in a research report on Thursday, December 12th. The Goldman Sachs Group assumed coverage on Nucor in a research report on Monday, December 2nd. They issued a "buy" rating and a $190.00 target price for the company. Citigroup decreased their target price on Nucor from $240.00 to $160.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. Finally, Morgan Stanley cut their price target on Nucor from $166.00 to $154.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Nucor has an average rating of "Moderate Buy" and an average target price of $163.13.

Nucor Stock Down 3.4 %

Shares of NYSE:NUE traded down $4.77 during trading on Friday, hitting $135.19. The company's stock had a trading volume of 2,277,287 shares, compared to its average volume of 2,865,920. The stock's 50-day moving average price is $125.00 and its two-hundred day moving average price is $139.99. Nucor Co. has a fifty-two week low of $112.25 and a fifty-two week high of $203.00. The company has a market capitalization of $31.74 billion, a PE ratio of 16.07, a PEG ratio of 0.96 and a beta of 1.60. 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 (NYSE:NUE - Get Free Report) last announced its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.28. Nucor had a return on equity of 9.85% and a net margin of 6.60%. During the same quarter in the previous year, the company earned $3.16 EPS. As a group, sell-side analysts expect that Nucor Co. will post 7.64 EPS for the current year.

Nucor Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Monday, March 31st. Nucor's payout ratio is currently 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.