Nucor (NYSE:NUE) Trading Down 5.8% - Should You Sell?

Nucor Co. (NYSE:NUE - Get Free Report)'s share price traded down 5.8% during mid-day trading on Friday . The stock traded as low as $122.33 and last traded at $122.01. 912,679 shares traded hands during trading, a decline of 50% from the average session volume of 1,824,263 shares. The stock had previously closed at $129.50.

Analyst Ratings Changes

A number of analysts have issued reports on NUE shares. JPMorgan Chase & Co. raised their target price on Nucor from $150.00 to $156.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 11th. The Goldman Sachs Group started coverage on shares of Nucor in a report on Monday, December 2nd. They set a "buy" rating and a $190.00 target price on the stock. Jefferies Financial Group raised their price target on shares of Nucor from $125.00 to $135.00 and gave the company a "hold" rating in a report on Wednesday, January 29th. Citigroup decreased their price target on shares of Nucor from $240.00 to $160.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. Finally, Argus set a $155.00 price objective on Nucor in a research note on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $164.78.

Nucor Stock Up 0.5 %

The company has a market capitalization of $29.53 billion, a P/E ratio of 15.26, 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. The company has a 50 day moving average of $130.75 and a 200-day moving average of $137.64.

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Nucor (NYSE:NUE - Get Free Report) last issued its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share 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 period in the previous year, the business earned $3.16 EPS. As a group, equities analysts anticipate that Nucor Co. will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Monday, March 31st. Nucor's payout ratio is currently 26.16%.

Hedge Funds Weigh In On Nucor

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp raised its holdings in Nucor by 2.9% during 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 during the period. Geode Capital Management LLC grew its position in shares of Nucor by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 5,967,254 shares of the basic materials company's stock worth $701,255,000 after purchasing an additional 105,309 shares in the last quarter. Norges Bank bought a new stake in Nucor during the 4th quarter valued at approximately $398,077,000. Invesco Ltd. lifted its holdings in Nucor by 18.7% in the 4th quarter. Invesco Ltd. now owns 2,435,265 shares of the basic materials company's stock worth $284,220,000 after purchasing an additional 384,205 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in Nucor by 24.6% during the fourth quarter. First Trust Advisors LP now owns 2,404,477 shares of the basic materials company's stock valued at $280,627,000 after purchasing an additional 474,274 shares in the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

About Nucor

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.