Marshall Wace LLP Acquires 291,888 Shares of Nucor Co. (NYSE:NUE)

Marshall Wace LLP grew its stake in shares of Nucor Co. (NYSE:NUE - Free Report) by 87.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 626,038 shares of the basic materials company's stock after buying an additional 291,888 shares during the period. Marshall Wace LLP owned approximately 0.27% of Nucor worth $73,065,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in Nucor during the fourth quarter worth $398,077,000. Invesco Ltd. increased its stake in Nucor by 18.7% in the fourth quarter. Invesco Ltd. now owns 2,435,265 shares of the basic materials company's stock valued at $284,220,000 after acquiring an additional 384,205 shares during the period. Nordea Investment Management AB raised its position in Nucor by 25.6% in the fourth quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company's stock worth $205,282,000 after purchasing an additional 358,721 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Nucor during the fourth quarter valued at approximately $38,714,000. Finally, OFI Invest Asset Management bought a new stake in shares of Nucor in the 4th quarter valued at approximately $25,906,000. Institutional investors own 76.48% of the company's stock.

Nucor Trading Up 1.5 %

NUE stock traded up $1.55 during midday trading on Tuesday, reaching $108.22. The company's stock had a trading volume of 563,076 shares, compared to its average volume of 2,066,085. The business's 50-day simple moving average is $124.59 and its 200-day simple moving average is $132.71. The stock has a market cap of $24.95 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 0.96 and a beta of 1.67. Nucor Co. has a 52 week low of $97.59 and a 52 week high of $193.61. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings data 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 return on equity of 9.85% and a net margin of 6.60%. During the same quarter in the previous year, the firm earned $3.16 earnings per share. As a group, sell-side analysts expect that Nucor Co. will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.03%. The ex-dividend date is Monday, March 31st. Nucor's payout ratio is 26.16%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. StockNews.com upgraded Nucor from a "sell" rating to a "hold" rating in a research report on Friday. Jefferies Financial Group lifted their target price 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. UBS Group upgraded Nucor from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $156.00 to $160.00 in a research report on Monday, March 24th. JPMorgan Chase & Co. cut their price target on Nucor from $156.00 to $140.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, Morgan Stanley set a $164.00 price objective on shares of Nucor in a research report on Monday, March 24th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $160.33.

Nucor Profile

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.