Dimensional Fund Advisors LP Lowers Position in Nucor Co. (NYSE:NUE)

Dimensional Fund Advisors LP lessened its stake in Nucor Co. (NYSE:NUE - Free Report) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,533,894 shares of the basic materials company's stock after selling 22,590 shares during the quarter. Dimensional Fund Advisors LP owned 1.51% of Nucor worth $412,426,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. First Trust Advisors LP increased its holdings in Nucor by 24.6% in the fourth quarter. First Trust Advisors LP now owns 2,404,477 shares of the basic materials company's stock valued at $280,627,000 after buying an additional 474,274 shares in the last quarter. Forum Financial Management LP increased its stake in shares of Nucor by 6.6% in the 4th quarter. Forum Financial Management LP now owns 4,382 shares of the basic materials company's stock valued at $511,000 after purchasing an additional 271 shares in the last quarter. Bridge Generations Wealth Management LLC acquired a new position in Nucor in the 4th quarter worth about $83,000. Capital International Investors boosted its position in Nucor by 5.7% during the fourth quarter. Capital International Investors now owns 5,961 shares of the basic materials company's stock worth $696,000 after purchasing an additional 323 shares in the last quarter. Finally, GKV Capital Management Co. Inc. acquired a new stake in Nucor in the fourth quarter valued at approximately $735,000. Hedge funds and other institutional investors own 76.48% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NUE. UBS Group raised Nucor from a "neutral" rating to a "buy" rating and upped their target price for the stock from $156.00 to $160.00 in a research note on Monday, March 24th. JPMorgan Chase & Co. decreased their price objective on shares of Nucor from $156.00 to $140.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. 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 note on Wednesday, January 29th. Argus set a $155.00 price target on shares of Nucor in a research note on Wednesday, March 5th. Finally, StockNews.com upgraded Nucor from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Three 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $160.33.

Nucor Price Performance

Shares of NUE stock traded up $3.45 during trading hours on Thursday, reaching $115.38. The company had a trading volume of 1,784,009 shares, compared to its average volume of 2,829,467. Nucor Co. has a 12-month low of $97.59 and a 12-month high of $176.83. The company has a market capitalization of $26.60 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 0.96 and a beta of 1.67. 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 stock has a fifty day moving average of $123.56 and a 200-day moving average of $132.41.

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

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be paid a $0.55 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.20 annualized dividend and a dividend yield of 1.91%. 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.