James Investment Research Inc. trimmed its holdings in shares of Nucor Co. (NYSE:NUE - Free Report) by 31.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,069 shares of the basic materials company's stock after selling 4,245 shares during the period. James Investment Research Inc.'s holdings in Nucor were worth $1,058,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in Nucor during the 3rd quarter valued at $26,000. Coastline Trust Co purchased a new stake in Nucor during the 3rd quarter valued at $29,000. Brown Lisle Cummings Inc. purchased a new stake in Nucor during the 3rd quarter valued at $30,000. Salomon & Ludwin LLC boosted its stake in shares of Nucor by 45.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company's stock worth $35,000 after buying an additional 72 shares during the last quarter. Finally, Crews Bank & Trust purchased a new position in shares of Nucor in the 4th quarter worth $29,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms have recently issued reports on NUE. The Goldman Sachs Group began coverage on Nucor in a research note on Monday, December 2nd. They issued a "buy" rating and a $190.00 price target on the stock. Citigroup dropped their price target on Nucor from $240.00 to $160.00 and set a "buy" rating on the stock in a research note on Thursday, December 19th. Jefferies Financial Group raised their price target on Nucor from $125.00 to $135.00 and gave the stock a "hold" rating in a research note on Wednesday, January 29th. Morgan Stanley dropped their price target on Nucor from $166.00 to $154.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Finally, UBS Group restated a "neutral" rating and issued a $156.00 price target (down from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $163.13.
View Our Latest Analysis on NUE
Nucor Price Performance
Shares of NUE stock traded up $0.33 during trading hours on Thursday, hitting $140.10. The stock had a trading volume of 1,895,656 shares, compared to its average volume of 2,883,758. Nucor Co. has a one year low of $112.25 and a one year 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 stock's 50-day moving average price is $124.82 and its two-hundred day moving average price is $139.99. The stock has a market capitalization of $32.90 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 0.98 and a beta of 1.60.
Nucor (NYSE:NUE - Get Free Report) last issued its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping 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 period in the previous year, the business earned $3.16 EPS. Equities analysts forecast that Nucor Co. will post 7.64 EPS for the current year.
Nucor Announces Dividend
The business also recently declared 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 1.57%. Nucor's dividend payout ratio is currently 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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