KCM Investment Advisors LLC Has $1.01 Million Stock Position in Nucor Co. (NYSE:NUE)

KCM Investment Advisors LLC lowered its holdings in shares of Nucor Co. (NYSE:NUE - Free Report) by 64.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,645 shares of the basic materials company's stock after selling 15,862 shares during the quarter. KCM Investment Advisors LLC's holdings in Nucor were worth $1,009,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp lifted its stake in shares of Nucor by 2.9% in the third quarter. State Street Corp now owns 11,427,899 shares of the basic materials company's stock worth $1,724,117,000 after buying an additional 326,181 shares during the last quarter. Geode Capital Management LLC lifted its position in Nucor by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 5,967,254 shares of the basic materials company's stock worth $701,255,000 after acquiring an additional 105,309 shares during the last quarter. Norges Bank bought a new stake in Nucor during the fourth quarter valued at about $398,077,000. Nordea Investment Management AB boosted its holdings in Nucor by 25.6% during the fourth quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company's stock valued at $205,282,000 after acquiring an additional 358,721 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Nucor by 4.2% in the fourth 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 during the last quarter. Institutional investors and hedge funds own 76.48% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NUE. Citigroup decreased their price target 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. UBS Group raised Nucor from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $156.00 to $160.00 in a research report on Monday, March 24th. Argus set a $155.00 price objective on Nucor in a research report on Wednesday, March 5th. Morgan Stanley set a $164.00 price objective on Nucor in a report on Monday, March 24th. Finally, JPMorgan Chase & Co. upped their target price on Nucor from $150.00 to $156.00 and gave the company an "overweight" rating in a research note on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $162.11.

Nucor Trading Down 0.7 %

NYSE:NUE traded down $0.78 on Friday, hitting $108.67. 516,963 shares of the stock were exchanged, compared to its average volume of 2,045,419. 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 52 week low of $97.59 and a 52 week high of $199.15. The stock has a market capitalization of $25.05 billion, a price-to-earnings ratio of 12.92, a P/E/G ratio of 0.96 and a beta of 1.67. The company's 50-day moving average price is $127.93 and its 200 day moving average price is $134.82.

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 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 period last year, the company earned $3.16 EPS. On average, equities research analysts forecast that Nucor Co. will post 7.64 earnings per share for the current year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be given a dividend of $0.55 per share. The ex-dividend date is Monday, March 31st. This represents a $2.20 annualized dividend and a dividend yield of 2.02%. Nucor's payout ratio is currently 26.16%.

About Nucor

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.