Corebridge Financial Inc. decreased its stake in Nucor Co. (NYSE:NUE - Free Report) by 6.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,964 shares of the basic materials company's stock after selling 4,301 shares during the quarter. Corebridge Financial Inc.'s holdings in Nucor were worth $6,998,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the stock. State Street Corp lifted its position in Nucor by 2.9% during the 3rd quarter. State Street Corp now owns 11,427,899 shares of the basic materials company's stock worth $1,724,117,000 after buying an additional 326,181 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Nucor by 1.3% during the third quarter. Geode Capital Management LLC now owns 5,861,945 shares of the basic materials company's stock worth $883,732,000 after purchasing an additional 74,569 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Nucor by 25.6% during the fourth quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company's stock valued at $205,282,000 after purchasing an additional 358,721 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Nucor by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,680,468 shares of the basic materials company's stock valued at $196,127,000 after purchasing an additional 68,252 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Nucor by 6.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,679,176 shares of the basic materials company's stock valued at $195,977,000 after purchasing an additional 104,238 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
NUE has been the topic of a number of recent research reports. Jefferies Financial Group increased their price objective on Nucor from $125.00 to $135.00 and gave the company a "hold" rating in a research report on Wednesday, January 29th. StockNews.com upgraded Nucor from a "sell" rating to a "hold" rating in a report on Wednesday, February 12th. UBS Group raised Nucor from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $156.00 to $160.00 in a report on Monday, March 24th. Morgan Stanley set a $164.00 target price on shares of Nucor in a research report on Monday, March 24th. Finally, The Goldman Sachs Group initiated coverage on shares of Nucor in a research note on Monday, December 2nd. They set a "buy" rating and a $190.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $164.44.
View Our Latest Analysis on NUE
Nucor Trading Down 1.4 %
Shares of Nucor stock traded down $1.71 during trading hours on Tuesday, hitting $118.63. The company's stock had a trading volume of 988,897 shares, compared to its average volume of 2,887,126. The company has a market capitalization of $27.35 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48. The stock has a 50 day moving average of $130.90 and a 200 day moving average of $137.12. Nucor Co. has a 12 month low of $112.25 and a 12 month high of $203.00.
Nucor (NYSE:NUE - Get Free Report) last announced its earnings results on Monday, January 27th. The basic materials company reported $1.22 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 quarter in the prior year, the company posted $3.16 EPS. Analysts predict that Nucor Co. will post 7.64 earnings per share for the current year.
Nucor Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.85%. Nucor's payout ratio is presently 26.16%.
About Nucor
(
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.
See Also
Before you consider Nucor, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Nucor wasn't on the list.
While Nucor currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
