Allstate Corp Purchases Shares of 7,175 Nucor Co. (NYSE:NUE)

Allstate Corp acquired a new position in shares of Nucor Co. (NYSE:NUE - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,175 shares of the basic materials company's stock, valued at approximately $837,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NUE. DnB Asset Management AS grew its holdings in Nucor by 4.7% in the 4th quarter. DnB Asset Management AS now owns 80,901 shares of the basic materials company's stock valued at $9,442,000 after buying an additional 3,618 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in shares of Nucor by 8.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 131,373 shares of the basic materials company's stock valued at $15,333,000 after acquiring an additional 10,528 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of Nucor by 14.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 377,911 shares of the basic materials company's stock valued at $44,106,000 after acquiring an additional 49,011 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in Nucor in the 4th quarter worth about $1,961,000. Finally, Norges Bank acquired a new position in shares of Nucor during the 4th quarter worth approximately $398,077,000. Institutional investors and hedge funds own 76.48% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Citigroup cut their price target on Nucor from $240.00 to $160.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. UBS Group upgraded Nucor from a "neutral" rating to a "buy" rating and upped their target price for the company from $156.00 to $160.00 in a research report on Monday, March 24th. Morgan Stanley set a $164.00 price target on Nucor in a research report on Monday, March 24th. JPMorgan Chase & Co. upped their price objective on shares of Nucor from $150.00 to $156.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 11th. Finally, StockNews.com raised shares of Nucor from a "sell" rating to a "hold" rating in a report on Wednesday, February 12th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Nucor currently has a consensus rating of "Moderate Buy" and an average target price of $164.44.

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Nucor Trading Down 10.6 %

NYSE NUE traded down $13.07 during trading hours on Thursday, reaching $109.96. The company's stock had a trading volume of 4,245,440 shares, compared to its average volume of 1,992,714. The firm has a fifty day simple moving average of $130.82 and a 200-day simple moving average of $136.86. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48. Nucor Co. has a 52 week low of $109.00 and a 52 week high of $203.00. The stock has a market cap of $25.35 billion, a P/E ratio of 13.07, a P/E/G ratio of 0.96 and a beta of 1.58.

Nucor (NYSE:NUE - Get Free Report) last issued its quarterly 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 quarter last year, the firm earned $3.16 EPS. Equities analysts forecast that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Monday, March 31st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.00%. Nucor's dividend payout ratio (DPR) is 26.16%.

Nucor Company 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.