Howard Bailey Securities LLC bought a new position in shares of Nucor Co. (NYSE:NUE - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,211 shares of the basic materials company's stock, valued at approximately $842,000.
Several other institutional investors have also modified their holdings of NUE. Park Capital Management LLC WI purchased a new stake in Nucor during the 4th quarter worth approximately $202,000. Grace & White Inc. NY grew its position in shares of Nucor by 12.0% during the fourth quarter. Grace & White Inc. NY now owns 122,339 shares of the basic materials company's stock worth $14,278,000 after buying an additional 13,100 shares in the last quarter. Stiles Financial Services Inc increased its stake in shares of Nucor by 19.7% in the fourth quarter. Stiles Financial Services Inc now owns 4,376 shares of the basic materials company's stock worth $511,000 after buying an additional 721 shares during the last quarter. Stephens Inc. AR increased its stake in shares of Nucor by 38.0% in the fourth quarter. Stephens Inc. AR now owns 8,455 shares of the basic materials company's stock worth $987,000 after buying an additional 2,327 shares during the last quarter. Finally, Entropy Technologies LP acquired a new stake in Nucor in the fourth quarter valued at $4,797,000. Institutional investors and hedge funds own 76.48% of the company's stock.
Nucor Stock Performance
NYSE:NUE traded up $2.20 during midday trading on Monday, reaching $137.75. 2,108,211 shares of the company traded hands, compared to its average volume of 2,773,291. Nucor Co. has a twelve month low of $112.25 and a twelve 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. The company has a fifty day moving average price of $124.89 and a 200 day moving average price of $140.18. The firm has a market capitalization of $32.34 billion, a price-to-earnings ratio of 16.38 and a beta of 1.60.
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 net margin of 6.60% and a return on equity of 9.85%. During the same quarter last year, the company earned $3.16 earnings per share. On average, analysts expect that Nucor Co. will post 7.88 EPS for the current fiscal year.
Nucor Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 11th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.60%. 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. Nucor's payout ratio is 26.16%.
Analyst Ratings Changes
NUE has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Nucor from $152.00 to $150.00 and set an "overweight" rating for the company in a research report on Wednesday, January 29th. StockNews.com raised Nucor from a "sell" rating to a "hold" rating in a report on Wednesday, February 12th. Morgan Stanley decreased their target price on Nucor from $166.00 to $154.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Citigroup lowered their price target on Nucor from $240.00 to $160.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Finally, The Goldman Sachs Group began coverage on shares of Nucor in a report on Monday, December 2nd. They issued a "buy" rating and a $190.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $163.13.
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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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