Ceredex Value Advisors LLC raised its holdings in Nucor Co. (NYSE:NUE - Free Report) by 17.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 580,423 shares of the basic materials company's stock after purchasing an additional 84,460 shares during the quarter. Nucor accounts for approximately 1.4% of Ceredex Value Advisors LLC's investment portfolio, making the stock its 14th biggest position. Ceredex Value Advisors LLC owned about 0.25% of Nucor worth $67,741,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the business. M&T Bank Corp boosted its stake in shares of Nucor by 3.6% during the third quarter. M&T Bank Corp now owns 85,413 shares of the basic materials company's stock valued at $12,840,000 after purchasing an additional 2,977 shares in the last quarter. Pine Valley Investments Ltd Liability Co increased its holdings in Nucor by 29.6% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 19,037 shares of the basic materials company's stock worth $2,866,000 after purchasing an additional 4,345 shares in the last quarter. World Investment Advisors LLC bought a new position in shares of Nucor during the 3rd quarter worth approximately $2,024,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Nucor during the 3rd quarter valued at $1,004,000. Finally, Tidal Investments LLC increased its stake in Nucor by 9.6% in the third quarter. Tidal Investments LLC now owns 36,493 shares of the basic materials company's stock valued at $5,486,000 after purchasing an additional 3,197 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company's stock.
Nucor Price Performance
NUE traded down $4.37 during trading on Monday, reaching $106.13. The company's stock had a trading volume of 595,351 shares, compared to its average volume of 2,067,180. The firm has a fifty day simple moving average of $125.13 and a two-hundred day simple moving average of $133.02. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The company has a market cap of $24.47 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 0.96 and a beta of 1.67. Nucor Co. has a 1 year low of $97.59 and a 1 year high of $193.61.
Nucor (NYSE:NUE - Get Free Report) last issued 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 net margin of 6.60% and a return on equity of 9.85%. During the same period last year, the company posted $3.16 EPS. As a group, analysts anticipate that Nucor Co. will post 7.64 EPS for the current year.
Nucor Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors 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 2.07%. Nucor's dividend payout ratio (DPR) is presently 26.16%.
Analysts Set New Price Targets
A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Nucor from $156.00 to $140.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Jefferies Financial Group increased their price objective on Nucor from $125.00 to $135.00 and gave the stock a "hold" rating in a research report on Wednesday, January 29th. The Goldman Sachs Group cut their target price on Nucor from $175.00 to $169.00 and set a "buy" rating for the company in a research note on Monday, April 7th. UBS Group raised Nucor from a "neutral" rating to a "buy" rating and raised their price target for the stock from $156.00 to $160.00 in a research note on Monday, March 24th. Finally, Morgan Stanley set a $164.00 target price on Nucor in a report on Monday, March 24th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $160.33.
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About Nucor
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Free Report)
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.
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