Empowered Funds LLC Cuts Holdings in Nucor Co. (NYSE:NUE)

Empowered Funds LLC trimmed its stake in Nucor Co. (NYSE:NUE - Free Report) by 19.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,498 shares of the basic materials company's stock after selling 16,859 shares during the period. Empowered Funds LLC's holdings in Nucor were worth $8,111,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NUE. Ashton Thomas Securities LLC purchased a new stake in Nucor in the 3rd quarter worth $26,000. Coastline Trust Co purchased a new stake in Nucor in the 3rd quarter worth $29,000. Crews Bank & Trust purchased a new stake in Nucor in the 4th quarter worth $29,000. Brown Lisle Cummings Inc. purchased a new stake in Nucor in the 3rd quarter worth $30,000. Finally, New Wave Wealth Advisors LLC purchased a new stake in Nucor in the 4th quarter worth $33,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on NUE shares. Morgan Stanley cut their price target on Nucor from $166.00 to $154.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Jefferies Financial Group increased their price target on Nucor from $125.00 to $135.00 and gave the stock a "hold" rating in a research note on Wednesday, January 29th. UBS Group reissued a "neutral" rating and set a $156.00 price objective (down previously from $171.00) on shares of Nucor in a report on Thursday, December 12th. StockNews.com raised shares of Nucor from a "sell" rating to a "hold" rating in a report on Wednesday. Finally, Citigroup lowered their price target 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. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Nucor has an average rating of "Moderate Buy" and an average price target of $163.13.

Nucor Trading Up 1.6 %

Shares of NYSE:NUE traded up $2.20 during trading on Friday, reaching $137.75. 2,108,211 shares of the company were exchanged, compared to its average volume of 2,927,821. The firm has a market capitalization of $32.34 billion, a PE ratio of 16.38 and a beta of 1.60. The business's fifty day simple moving average is $124.99 and its 200-day simple moving average is $140.62. Nucor Co. has a 12-month low of $112.25 and a 12-month high of $203.00. 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 (NYSE:NUE - Get Free Report) last issued its earnings results on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, topping analysts' consensus estimates 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 last year, the firm earned $3.16 EPS. On average, research analysts anticipate that Nucor Co. will post 7.88 EPS for the current year.

Nucor Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from Nucor's previous quarterly dividend of $0.54. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.60%. 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.