Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Nucor Co. (NYSE:NUE - Free Report) by 7.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 417,695 shares of the basic materials company's stock after acquiring an additional 30,432 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.18% of Nucor worth $48,223,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the business. State Street Corp grew its stake in shares of Nucor by 2.9% in the 3rd quarter. State Street Corp now owns 11,427,899 shares of the basic materials company's stock valued at $1,724,117,000 after purchasing an additional 326,181 shares during the period. Everence Capital Management Inc. bought a new stake in Nucor in the fourth quarter valued at $565,000. Geode Capital Management LLC raised its stake in Nucor by 1.3% during the third quarter. Geode Capital Management LLC now owns 5,861,945 shares of the basic materials company's stock worth $883,732,000 after acquiring an additional 74,569 shares in the last quarter. InvesTrust bought a new position in shares of Nucor during the fourth quarter valued at $4,388,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Nucor by 15.8% during the third quarter. Wellington Management Group LLP now owns 249,984 shares of the basic materials company's stock valued at $37,583,000 after acquiring an additional 34,149 shares during the period. Institutional investors and hedge funds own 76.48% of the company's stock.
Nucor Trading Up 2.2 %
NYSE:NUE traded up $2.62 during mid-day trading on Wednesday, hitting $122.28. The company had a trading volume of 412,518 shares, compared to its average volume of 2,862,887. 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 firm has a market cap of $28.19 billion, a P/E ratio of 14.54, a P/E/G ratio of 0.96 and a beta of 1.58. The business's fifty day moving average is $130.79 and its two-hundred day moving average is $136.96.
Nucor (NYSE:NUE - Get Free Report) last issued its earnings results on Monday, January 27th. The basic materials company reported $1.22 EPS 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 in the prior year, the firm earned $3.16 earnings per share. As a group, research analysts expect that Nucor Co. will post 7.64 earnings per share for the current year.
Nucor Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be issued a $0.55 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.20 annualized dividend and a dividend yield of 1.80%. Nucor's dividend payout ratio (DPR) is currently 26.16%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on NUE shares. UBS Group raised shares of Nucor from a "neutral" rating to a "buy" rating and upped their target price for the stock from $156.00 to $160.00 in a report on Monday, March 24th. Argus set a $155.00 price objective on shares of Nucor in a report on Wednesday, March 5th. Jefferies Financial Group boosted their target price on Nucor from $125.00 to $135.00 and gave the stock a "hold" rating in a report on Wednesday, January 29th. StockNews.com upgraded Nucor from a "sell" rating to a "hold" rating in a research report on Wednesday, February 12th. Finally, Morgan Stanley set a $164.00 price objective on Nucor in a research report on Monday, March 24th. Three equities research 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 MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $164.44.
View Our Latest Report on Nucor
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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