Korea Investment CORP decreased its position in shares of Nucor Co. (NYSE:NUE - Free Report) by 56.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 148,700 shares of the basic materials company's stock after selling 193,587 shares during the quarter. Korea Investment CORP owned about 0.06% of Nucor worth $17,355,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp grew its holdings 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 valued at $1,724,117,000 after acquiring an additional 326,181 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Nucor by 1.3% in the third quarter. Geode Capital Management LLC now owns 5,861,945 shares of the basic materials company's stock valued at $883,732,000 after purchasing an additional 74,569 shares in the last quarter. Nordea Investment Management AB increased its position in shares of 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 buying an additional 358,721 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in 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 worth $196,127,000 after acquiring an additional 68,252 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of 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 during the period. 76.48% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Nucor from $150.00 to $156.00 and gave the company an "overweight" rating in a research note on Tuesday, March 11th. Citigroup reduced their price target on Nucor from $240.00 to $160.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Jefferies Financial Group boosted their price objective on shares of Nucor from $125.00 to $135.00 and gave the company a "hold" rating in a research report on Wednesday, January 29th. Argus set a $155.00 price objective on shares of Nucor in a report on Wednesday, March 5th. Finally, StockNews.com raised shares of Nucor from a "sell" rating to a "hold" rating in a research report on Wednesday, February 12th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $164.44.
View Our Latest Stock Report on NUE
Nucor Stock Performance
Shares of Nucor stock traded down $10.62 during trading on Thursday, hitting $112.41. 907,813 shares of the company's stock traded hands, compared to its average volume of 2,857,254. Nucor Co. has a 1 year low of $112.25 and a 1 year high of $203.00. The business has a 50-day simple moving average of $130.82 and a 200-day simple moving average of $136.86. The stock has a market capitalization of $25.91 billion, a P/E ratio of 13.37, a PEG ratio of 0.96 and a beta of 1.58. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48.
Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, topping 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 firm earned $3.16 earnings per share. As a group, analysts forecast that Nucor Co. will post 7.64 EPS for the current year.
Nucor Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders 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 1.96%. Nucor's payout ratio is 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.
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