Bank of New York Mellon Corp Boosts Stock Holdings in Nucor Co. (NYSE:NUE)

Bank of New York Mellon Corp raised its position in shares of Nucor Co. (NYSE:NUE - Free Report) by 6.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,679,176 shares of the basic materials company's stock after acquiring an additional 104,238 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.72% of Nucor worth $195,977,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in shares of Nucor in the 3rd quarter worth about $26,000. Coastline Trust Co bought a new stake in shares of Nucor in the 3rd quarter worth $29,000. Crews Bank & Trust purchased a new position in shares of Nucor in the fourth quarter worth $29,000. New Wave Wealth Advisors LLC bought a new position in shares of Nucor during the fourth quarter valued at $33,000. Finally, Versant Capital Management Inc boosted its position in shares of Nucor by 60.3% during the fourth quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company's stock valued at $35,000 after buying an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company's stock.

Nucor Stock Performance

Shares of NYSE:NUE traded down $3.53 during midday trading on Monday, hitting $133.94. The company had a trading volume of 2,414,318 shares, compared to its average volume of 1,755,616. The company has a fifty day moving average of $126.86 and a two-hundred day moving average of $139.51. 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 12-month low of $112.25 and a 12-month high of $203.00. The company has a market cap of $31.45 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 0.96 and a beta of 1.60.

Nucor (NYSE:NUE - Get Free Report) last released its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping 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 period last year, the business posted $3.16 earnings per share. On average, equities research analysts expect that Nucor Co. will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Investors 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 dividend yield of 1.64%. The ex-dividend date is Monday, March 31st. Nucor's dividend payout ratio (DPR) is 26.16%.

Wall Street Analysts Forecast Growth

A number of equities analysts have 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. Citigroup decreased their price objective on shares of Nucor from $240.00 to $160.00 and set a "buy" rating for the company in a report on Thursday, December 19th. The Goldman Sachs Group started coverage on shares of Nucor in a report on Monday, December 2nd. They issued a "buy" rating and a $190.00 target price on the stock. Jefferies Financial Group boosted their target price on shares of Nucor from $125.00 to $135.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. Finally, Morgan Stanley dropped 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 research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $163.13.

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.