FMR LLC lowered its position in shares of Nucor Co. (NYSE:NUE - Free Report) by 33.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,513,730 shares of the basic materials company's stock after selling 752,902 shares during the quarter. FMR LLC owned about 0.64% of Nucor worth $176,667,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Ilmarinen Mutual Pension Insurance Co grew its holdings in Nucor by 53.8% during the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 20,000 shares of the basic materials company's stock valued at $2,334,000 after purchasing an additional 7,000 shares in the last quarter. Aviva PLC raised its stake in shares of Nucor by 164.9% in the 4th quarter. Aviva PLC now owns 143,060 shares of the basic materials company's stock valued at $16,697,000 after purchasing an additional 89,059 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new position in shares of Nucor during the fourth quarter worth about $10,213,000. Smith Moore & CO. grew its stake in Nucor by 29.1% in the fourth quarter. Smith Moore & CO. now owns 1,845 shares of the basic materials company's stock worth $215,000 after purchasing an additional 416 shares in the last quarter. Finally, Unison Advisors LLC increased its holdings in Nucor by 0.3% in the fourth quarter. Unison Advisors LLC now owns 42,252 shares of the basic materials company's stock valued at $4,954,000 after buying an additional 147 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company's stock.
Analyst Ratings Changes
NUE has been the subject of several research reports. JPMorgan Chase & Co. decreased their target price on Nucor from $156.00 to $140.00 and set an "overweight" rating for the company in a research report on Wednesday. The Goldman Sachs Group lowered their target price on shares of 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 upgraded shares of 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 report on Monday, March 24th. Citigroup dropped their price objective on shares of Nucor from $240.00 to $160.00 and set a "buy" rating on the stock in a research note on Thursday, December 19th. Finally, Argus set a $155.00 target price on shares of Nucor in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $160.33.
Read Our Latest Stock Analysis on Nucor
Nucor Stock Performance
Nucor stock traded up $1.67 during mid-day trading on Friday, hitting $110.62. 2,125,581 shares of the company's stock traded hands, compared to its average volume of 2,067,057. Nucor Co. has a one year low of $97.59 and a one year high of $194.16. The company has a market cap of $25.50 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 0.96 and a beta of 1.67. The firm has a 50 day moving average price of $125.68 and a 200 day moving average price of $133.56. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27.
Nucor (NYSE:NUE - Get Free Report) last announced its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating 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 period last year, the firm posted $3.16 earnings per share. On average, equities analysts forecast that Nucor Co. will post 7.64 EPS for the current year.
Nucor Announces Dividend
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 given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Monday, March 31st. Nucor's dividend payout ratio (DPR) is presently 26.16%.
Nucor Profile
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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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