AXQ Capital LP Makes New $825,000 Investment in Nucor Co. (NYSE:NUE)

AXQ Capital LP acquired a new stake in shares of 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. The institutional investor acquired 7,070 shares of the basic materials company's stock, valued at approximately $825,000.

Other institutional investors have also made changes to their positions in the company. Crews Bank & Trust bought a new position in shares of Nucor in the fourth quarter valued at approximately $29,000. New Wave Wealth Advisors LLC bought a new position in Nucor in the 4th quarter worth $33,000. Versant Capital Management Inc lifted its position in Nucor by 60.3% during the 4th quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company's stock worth $35,000 after acquiring an additional 114 shares during the last quarter. Beacon Capital Management LLC lifted its position in Nucor by 29.1% during the 4th quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company's stock worth $49,000 after acquiring an additional 94 shares during the last quarter. Finally, Millstone Evans Group LLC acquired a new stake in shares of Nucor in the fourth quarter valued at about $50,000. 76.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. StockNews.com upgraded Nucor from a "sell" rating to a "hold" rating in a research note on Wednesday, February 12th. Jefferies Financial Group boosted their target price 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. Citigroup decreased their price target on shares of Nucor from $240.00 to $160.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. The Goldman Sachs Group started coverage on shares of Nucor in a research report on Monday, December 2nd. They set a "buy" rating and a $190.00 price objective for the company. Finally, UBS Group raised Nucor from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $156.00 to $160.00 in a research report on Monday. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $164.78.

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Nucor Price Performance

Shares of NUE stock traded down $0.38 during trading hours on Wednesday, hitting $127.18. The company had a trading volume of 2,335,047 shares, compared to its average volume of 1,881,484. Nucor Co. has a 12 month low of $112.25 and a 12 month high of $203.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51. The firm's fifty day moving average is $130.86 and its 200 day moving average is $137.56. The firm has a market capitalization of $29.32 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 0.96 and a beta of 1.58.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, beating analysts' consensus estimates 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 period in the previous year, the business earned $3.16 EPS. On average, sell-side analysts predict that Nucor Co. will post 7.64 EPS for the current fiscal 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 given a $0.55 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.20 dividend on an annualized basis and a yield of 1.73%. Nucor's dividend payout ratio (DPR) is presently 26.16%.

About Nucor

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.