Voya Investment Management LLC Has $59.24 Million Stock Holdings in Nucor Co. (NYSE:NUE)

Voya Investment Management LLC increased its holdings in shares of Nucor Co. (NYSE:NUE - Free Report) by 528.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 507,715 shares of the basic materials company's stock after acquiring an additional 426,949 shares during the quarter. Voya Investment Management LLC owned approximately 0.22% of Nucor worth $59,235,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake 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 valued at $701,255,000 after purchasing an additional 105,309 shares during the period. Norges Bank acquired a new position in shares of Nucor during the fourth quarter worth approximately $398,077,000. Invesco Ltd. increased its position in Nucor by 18.7% in the 4th 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. First Trust Advisors LP raised its stake in Nucor by 24.6% during the 4th quarter. First Trust Advisors LP now owns 2,404,477 shares of the basic materials company's stock valued at $280,627,000 after acquiring an additional 474,274 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in Nucor by 25.6% during the 4th quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company's stock worth $205,282,000 after acquiring an additional 358,721 shares during the period. Institutional investors own 76.48% of the company's stock.

Wall Street Analysts Forecast Growth

NUE has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their price objective 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. StockNews.com upgraded shares of Nucor from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Morgan Stanley set a $164.00 price objective on shares of Nucor in a report on Monday, March 24th. Argus set a $155.00 target price on Nucor in a report on Wednesday, March 5th. Finally, UBS Group raised Nucor from a "neutral" rating to a "buy" rating and increased their price target for the company from $156.00 to $160.00 in a research note 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 given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $160.33.

Nucor Trading Up 1.8 %

Shares of NYSE NUE traded up $2.15 during mid-day trading on Tuesday, hitting $118.72. 3,046,286 shares of the company traded hands, compared to its average volume of 2,068,678. The business has a 50 day moving average of $122.11 and a two-hundred day moving average of $131.41. The stock has a market capitalization of $27.37 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 0.96 and a beta of 1.67. Nucor Co. has a 1 year low of $97.59 and a 1 year high of $176.59. 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 earnings results on Monday, April 28th. The basic materials company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.15). The firm had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.25 billion. Nucor had a return on equity of 9.85% and a net margin of 6.60%. The business's quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.46 earnings per share. On average, sell-side analysts anticipate that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm 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 $0.55 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.20 annualized dividend and a dividend yield of 1.85%. Nucor's dividend payout ratio (DPR) is presently 26.16%.

Nucor Company 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.