DnB Asset Management AS increased its position in Nucor Co. (NYSE:NUE - Free Report) by 4.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,901 shares of the basic materials company's stock after acquiring an additional 3,618 shares during the quarter. DnB Asset Management AS's holdings in Nucor were worth $9,442,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NUE. Widmann Financial Services Inc. increased its stake in shares of Nucor by 4.0% in the third quarter. Widmann Financial Services Inc. now owns 1,800 shares of the basic materials company's stock worth $271,000 after purchasing an additional 70 shares in the last quarter. Horrell Capital Management Inc. boosted its holdings in Nucor by 0.3% in the 4th quarter. Horrell Capital Management Inc. now owns 26,657 shares of the basic materials company's stock worth $3,111,000 after buying an additional 76 shares during the period. TCI Wealth Advisors Inc. increased its stake in Nucor by 4.4% in the 4th quarter. TCI Wealth Advisors Inc. now owns 2,157 shares of the basic materials company's stock worth $252,000 after buying an additional 91 shares in the last quarter. Jessup Wealth Management Inc raised its holdings in Nucor by 0.9% during the fourth quarter. Jessup Wealth Management Inc now owns 10,528 shares of the basic materials company's stock valued at $1,229,000 after acquiring an additional 93 shares during the period. Finally, Redwood Investment Management LLC lifted its position in shares of Nucor by 1.0% in the third quarter. Redwood Investment Management LLC now owns 9,092 shares of the basic materials company's stock valued at $1,365,000 after acquiring an additional 94 shares in the last quarter. Institutional investors own 76.48% of the company's stock.
Nucor Price Performance
Shares of NYSE:NUE traded down $10.57 on Thursday, reaching $112.46. The company's stock had a trading volume of 1,262,235 shares, compared to its average volume of 2,860,963. The company has a 50-day simple moving average of $130.82 and a 200 day simple moving average of $136.86. Nucor Co. has a 52-week low of $111.81 and a 52-week 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 company has a market cap of $25.93 billion, a P/E ratio of 13.37, a PEG ratio of 0.96 and a beta of 1.58.
Nucor (NYSE:NUE - Get Free Report) last released its quarterly 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 return on equity of 9.85% and a net margin of 6.60%. During the same period last year, the company earned $3.16 earnings per share. As a group, equities research analysts anticipate that Nucor Co. will post 7.64 EPS for the current fiscal 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 issued a dividend of $0.55 per share. The ex-dividend date is Monday, March 31st. This represents a $2.20 annualized dividend and a yield of 1.96%. Nucor's payout ratio is presently 26.16%.
Wall Street Analyst Weigh In
NUE has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their target price on Nucor from $150.00 to $156.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 11th. Morgan Stanley set a $164.00 price objective on shares of Nucor in a report on Monday, March 24th. Argus set a $155.00 target price on shares of Nucor in a report on Wednesday, March 5th. UBS Group upgraded shares of 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 report on Monday, March 24th. Finally, StockNews.com upgraded shares of Nucor from a "sell" rating to a "hold" rating in a report on Wednesday, February 12th. 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 stock. Based on data from MarketBeat, Nucor has an average rating of "Moderate Buy" and a consensus price target of $164.44.
Check Out Our Latest Report on NUE
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.
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