HUB Investment Partners LLC decreased its holdings in Nucor Co. (NYSE:NUE - Free Report) by 57.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,905 shares of the basic materials company's stock after selling 5,200 shares during the period. HUB Investment Partners LLC's holdings in Nucor were worth $456,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. State Street Corp raised its stake in shares of Nucor by 2.9% during the 3rd quarter. State Street Corp now owns 11,427,899 shares of the basic materials company's stock worth $1,724,117,000 after purchasing an additional 326,181 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Nucor by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,861,945 shares of the basic materials company's stock worth $883,732,000 after purchasing an additional 74,569 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Nucor by 25.6% during the 4th quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company's stock valued at $205,282,000 after purchasing an additional 358,721 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Nucor by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,680,468 shares of the basic materials company's stock valued at $196,127,000 after purchasing an additional 68,252 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Nucor by 6.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,679,176 shares of the basic materials company's stock worth $195,977,000 after purchasing an additional 104,238 shares in the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on NUE shares. The Goldman Sachs Group began coverage on Nucor in a research report on Monday, December 2nd. They issued a "buy" rating and a $190.00 price target for the company. Citigroup decreased their target price on Nucor from $240.00 to $160.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. UBS Group raised shares of Nucor from a "neutral" rating to a "buy" rating and lifted their price target for the company from $156.00 to $160.00 in a research report on Monday. Morgan Stanley upped their price objective on shares of Nucor from $154.00 to $167.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. 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 given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $164.78.
Read Our Latest Research Report on Nucor
Nucor Stock Performance
NYSE NUE traded down $0.38 during midday trading on Wednesday, hitting $127.18. The company had a trading volume of 2,331,949 shares, compared to its average volume of 1,878,013. The firm has a fifty day simple moving average of $130.86 and a two-hundred day simple moving average of $137.56. The stock has a market cap of $29.32 billion, a price-to-earnings ratio of 15.12, a P/E/G ratio of 0.96 and a beta of 1.58. 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 Co. has a fifty-two week low of $112.25 and a fifty-two week high of $203.00.
Nucor (NYSE:NUE - Get Free Report) last issued its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating 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 quarter last year, the business earned $3.16 EPS. Equities analysts forecast that Nucor Co. will post 7.64 earnings per share for the current fiscal year.
Nucor Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be given a $0.55 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.20 annualized dividend and a yield of 1.73%. Nucor's dividend payout ratio (DPR) is currently 26.16%.
Nucor Company 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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