Phoenix Financial Ltd. reduced its stake in Nucor Co. (NYSE:NUE - Free Report) by 68.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 119,242 shares of the basic materials company's stock after selling 263,556 shares during the quarter. Phoenix Financial Ltd. owned about 0.05% of Nucor worth $13,963,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of NUE. Crews Bank & Trust purchased a new stake in shares of Nucor during the fourth quarter valued at $29,000. New Wave Wealth Advisors LLC purchased a new stake in Nucor during the 4th quarter valued at about $33,000. Versant Capital Management Inc increased its holdings in shares of Nucor by 60.3% in the fourth quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company's stock valued at $35,000 after purchasing an additional 114 shares during the period. Beacon Capital Management LLC raised its stake in shares of Nucor by 29.1% in the fourth quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company's stock worth $49,000 after purchasing an additional 94 shares during the last quarter. Finally, Millstone Evans Group LLC acquired a new stake in shares of Nucor during the fourth quarter worth about $50,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the stock. Citigroup reduced their price target on shares of Nucor from $240.00 to $160.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. UBS Group raised shares of Nucor from a "neutral" rating to a "buy" rating and raised their target price for the stock from $156.00 to $160.00 in a report on Monday, March 24th. JPMorgan Chase & Co. upped their target price on Nucor from $150.00 to $156.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 11th. Argus set a $155.00 price target on Nucor in a research report on Wednesday, March 5th. Finally, StockNews.com lowered shares of Nucor from a "hold" rating to a "sell" rating in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $162.11.
Check Out Our Latest Report on Nucor
Nucor Price Performance
NUE traded up $0.29 on Tuesday, reaching $111.11. 523,618 shares of the company's stock were exchanged, compared to its average volume of 2,052,698. The stock has a market cap of $25.61 billion, a PE ratio of 13.21, a P/E/G ratio of 0.96 and a beta of 1.67. 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 twelve month low of $97.59 and a twelve month high of $197.79. The stock's fifty day moving average price is $127.09 and its 200-day moving average price is $134.17.
Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 earnings per share 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 last year, the company earned $3.16 EPS. Sell-side analysts expect that Nucor Co. will post 7.64 EPS for the current year.
Nucor Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be issued a $0.55 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.20 annualized dividend and a dividend yield of 1.98%. Nucor's dividend payout ratio is currently 26.16%.
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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