Ieq Capital LLC decreased its stake in shares of Nucor Co. (NYSE:NUE - Free Report) by 85.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,974 shares of the basic materials company's stock after selling 11,482 shares during the quarter. Ieq Capital LLC's holdings in Nucor were worth $230,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NUE. Ashton Thomas Securities LLC acquired a new position in Nucor during the third quarter valued at $26,000. Coastline Trust Co purchased a new stake in shares of Nucor during the third quarter worth about $29,000. Crews Bank & Trust purchased a new position in shares of Nucor in the fourth quarter valued at approximately $29,000. New Wave Wealth Advisors LLC purchased a new stake in shares of Nucor during the fourth quarter worth $33,000. Finally, Versant Capital Management Inc raised its holdings in Nucor by 60.3% in the 4th quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company's stock valued at $35,000 after acquiring an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company's stock.
Analyst Upgrades and Downgrades
NUE has been the subject of several recent analyst reports. Morgan Stanley cut their price objective on shares of Nucor from $166.00 to $154.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Citigroup reduced their price objective on shares of Nucor from $240.00 to $160.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. UBS Group reaffirmed a "neutral" rating and set a $156.00 target price (down previously from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Jefferies Financial Group boosted their price target on shares of Nucor from $125.00 to $135.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. Finally, The Goldman Sachs Group began coverage on shares of Nucor in a research report on Monday, December 2nd. They set a "buy" rating and a $190.00 price objective for the company. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $163.13.
Check Out Our Latest Stock Report on NUE
Nucor Stock Down 1.9 %
Shares of NYSE:NUE traded down $2.54 during trading on Tuesday, hitting $131.53. The company's stock had a trading volume of 2,782,044 shares, compared to its average volume of 1,759,767. The company has a market capitalization of $30.88 billion, a PE ratio of 15.65, a P/E/G ratio of 0.96 and a beta of 1.60. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51. Nucor Co. has a fifty-two week low of $112.25 and a fifty-two week high of $203.00. The business has a 50 day moving average price of $127.21 and a two-hundred day moving average price of $139.44.
Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 earnings per share 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 business posted $3.16 EPS. As a group, research analysts expect that Nucor Co. will post 7.64 EPS for the current fiscal year.
Nucor Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Monday, March 31st. Nucor's payout ratio is currently 26.16%.
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.
Featured Stories
Before you consider Nucor, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Nucor wasn't on the list.
While Nucor currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
