Nucor Co. (NYSE:NUE) Shares Sold by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp reduced its position in Nucor Co. (NYSE:NUE - Free Report) by 12.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,286 shares of the basic materials company's stock after selling 4,146 shares during the quarter. Atlantic Union Bankshares Corp's holdings in Nucor were worth $3,535,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in NUE. Arjuna Capital raised its position in Nucor by 1.3% in the 4th quarter. Arjuna Capital now owns 24,772 shares of the basic materials company's stock valued at $2,891,000 after purchasing an additional 312 shares in the last quarter. RKL Wealth Management LLC acquired a new stake in shares of Nucor during the 4th quarter worth about $648,000. Pacific Heights Asset Management LLC raised its position in shares of Nucor by 50.5% during the 4th quarter. Pacific Heights Asset Management LLC now owns 155,000 shares of the basic materials company's stock worth $18,090,000 after acquiring an additional 52,000 shares in the last quarter. Candriam S.C.A. raised its position in shares of Nucor by 12.8% during the 4th quarter. Candriam S.C.A. now owns 18,930 shares of the basic materials company's stock worth $2,209,000 after acquiring an additional 2,150 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Nucor in the 4th quarter valued at $38,714,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NUE has been the subject of several analyst reports. Morgan Stanley upped their price objective on Nucor from $154.00 to $167.00 and gave the company an "overweight" rating in a research note on Friday. StockNews.com raised Nucor from a "sell" rating to a "hold" rating in a report on Wednesday, February 12th. UBS Group reissued a "neutral" rating and issued a $156.00 target price (down previously from $171.00) on shares of Nucor in a report on Thursday, December 12th. Citigroup dropped their price target on Nucor from $240.00 to $160.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. dropped their price objective on Nucor from $152.00 to $150.00 and set an "overweight" rating for the company in a research report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $164.75.

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Nucor Stock Performance

Shares of NUE stock opened at $133.79 on Friday. 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 Co. has a fifty-two week low of $112.25 and a fifty-two week high of $203.00. The stock's 50-day moving average is $128.34 and its two-hundred day moving average is $139.15. The firm has a market cap of $30.84 billion, a P/E ratio of 15.91, a PEG ratio of 0.96 and a beta of 1.58.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate 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 prior year, the firm posted $3.16 earnings per share. Analysts predict that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.64%. Nucor's dividend payout ratio is currently 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.

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