Geode Capital Management LLC increased its position in Nucor Co. (NYSE:NUE - Free Report) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,967,254 shares of the basic materials company's stock after buying an additional 105,309 shares during the period. Geode Capital Management LLC owned 2.54% of Nucor worth $701,255,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Summit Financial LLC raised its holdings in shares of Nucor by 170.6% during the 4th quarter. Summit Financial LLC now owns 4,752 shares of the basic materials company's stock worth $557,000 after acquiring an additional 2,996 shares in the last quarter. Wellington Management Group LLP raised its stake in Nucor by 0.6% during the fourth quarter. Wellington Management Group LLP now owns 251,364 shares of the basic materials company's stock valued at $29,337,000 after purchasing an additional 1,380 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in Nucor by 1.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 16,218 shares of the basic materials company's stock valued at $1,917,000 after purchasing an additional 287 shares during the last quarter. Schroder Investment Management Group lifted its position in Nucor by 4.3% during the fourth quarter. Schroder Investment Management Group now owns 407,299 shares of the basic materials company's stock valued at $46,966,000 after purchasing an additional 16,940 shares during the last quarter. Finally, Allianz SE purchased a new position in shares of Nucor in the 4th quarter worth $338,000. 76.48% of the stock is owned by institutional investors.
Nucor Trading Down 0.3 %
Nucor stock traded down $0.27 during mid-day trading on Monday, hitting $102.95. The company's stock had a trading volume of 1,834,885 shares, compared to its average volume of 2,012,733. 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 50 day moving average of $130.19 and a 200-day moving average of $136.31. Nucor Co. has a one year low of $95.70 and a one year high of $203.00. The stock has a market cap of $23.73 billion, a PE ratio of 12.18, a P/E/G ratio of 0.96 and a beta of 1.67.
Nucor (NYSE:NUE - Get Free Report) last posted its quarterly 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 period in the previous year, the firm earned $3.16 EPS. On average, research analysts anticipate that Nucor Co. will post 7.64 EPS for the current year.
Nucor Dividend Announcement
The business 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 dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Monday, March 31st. Nucor's dividend payout ratio is presently 26.16%.
Analyst Ratings Changes
Several analysts have recently issued reports on the stock. Citigroup decreased their target price on shares of Nucor from $240.00 to $160.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. StockNews.com upgraded Nucor from a "sell" rating to a "hold" rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. lifted their target price on Nucor from $150.00 to $156.00 and gave the stock an "overweight" rating in a report on Tuesday, March 11th. Jefferies Financial Group increased their price target on Nucor from $125.00 to $135.00 and gave the company a "hold" rating in a report on Wednesday, January 29th. Finally, UBS Group raised shares of Nucor from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $156.00 to $160.00 in a research note on Monday, March 24th. Three investment 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $162.11.
Check Out Our Latest Stock Analysis on Nucor
Nucor Company Profile
(
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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