Pictet Asset Management Holding SA Has $15.33 Million Stake in Nucor Co. (NYSE:NUE)

Pictet Asset Management Holding SA raised its stake in shares of Nucor Co. (NYSE:NUE - Free Report) by 8.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 131,373 shares of the basic materials company's stock after buying an additional 10,528 shares during the period. Pictet Asset Management Holding SA owned approximately 0.06% of Nucor worth $15,333,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NUE. State Street Corp increased its stake in shares of 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 boosted its stake in Nucor by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,861,945 shares of the basic materials company's stock valued at $883,732,000 after purchasing an additional 74,569 shares in the last quarter. Norges Bank acquired a new position in shares of Nucor during the 4th quarter valued at $398,077,000. Nordea Investment Management AB raised its stake in shares of Nucor by 25.6% in 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 buying an additional 358,721 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Nucor by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,680,468 shares of the basic materials company's stock valued at $196,127,000 after buying an additional 68,252 shares during the period. 76.48% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

NUE has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on Nucor from $150.00 to $156.00 and gave the stock an "overweight" rating in a report on Tuesday, March 11th. Citigroup dropped their target price 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. Morgan Stanley set a $164.00 target price on shares of Nucor in a research note on Monday, March 24th. UBS Group upgraded shares of Nucor from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $156.00 to $160.00 in a research report on Monday, March 24th. Finally, Argus set a $155.00 price objective on Nucor in a research note on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $164.44.

Nucor Stock Down 6.1 %

Shares of Nucor stock traded down $6.65 during midday trading on Friday, hitting $103.14. The company's stock had a trading volume of 3,817,095 shares, compared to its average volume of 2,013,175. Nucor Co. has a 1-year low of $99.77 and a 1-year high of $203.00. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $23.78 billion, a P/E ratio of 12.26, a PEG ratio of 0.96 and a beta of 1.67. The stock has a 50-day simple moving average of $130.19 and a 200-day simple moving average of $136.31.

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 last year, the firm posted $3.16 earnings per share. As a group, sell-side analysts expect that Nucor Co. will post 7.64 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be paid a $0.55 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.20 annualized dividend and a yield of 2.13%. Nucor's dividend payout ratio 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.