Nucor Co. (NYSE:NUE) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its holdings in shares of Nucor Co. (NYSE:NUE - Free Report) by 4.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,712 shares of the basic materials company's stock after selling 2,446 shares during the period. PNC Financial Services Group Inc.'s holdings in Nucor were worth $6,852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in Nucor during the 3rd quarter worth about $26,000. Coastline Trust Co bought a new position in Nucor during the 3rd quarter worth about $29,000. Crews Bank & Trust bought a new position in Nucor during the 4th quarter worth about $29,000. New Wave Wealth Advisors LLC bought a new position in Nucor during the 4th quarter worth about $33,000. Finally, Versant Capital Management Inc grew its holdings in Nucor by 60.3% during the 4th quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company's stock worth $35,000 after acquiring an additional 114 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Argus set a $155.00 price target on shares of Nucor in a research report on Wednesday, March 5th. The Goldman Sachs Group assumed coverage on shares of Nucor in a research report on Monday, December 2nd. They set a "buy" rating and a $190.00 price target for the company. JPMorgan Chase & Co. increased their price target on shares of Nucor from $150.00 to $156.00 and gave the company an "overweight" rating in a research report on Tuesday. Jefferies Financial Group increased their price target on shares of Nucor from $125.00 to $135.00 and gave the company a "hold" rating in a research report on Wednesday, January 29th. Finally, Morgan Stanley increased their price target on shares of Nucor from $154.00 to $167.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $164.33.

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Nucor Stock Performance

Shares of Nucor stock traded up $2.70 during midday trading on Friday, hitting $132.26. The company had a trading volume of 2,111,160 shares, compared to its average volume of 1,812,630. Nucor Co. has a 12-month low of $112.25 and a 12-month high of $203.00. The company has a fifty day simple moving average of $129.75 and a 200 day simple moving average of $138.57. 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 stock has a market cap of $30.49 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 0.96 and a beta of 1.58.

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 net margin of 6.60% and a return on equity of 9.85%. During the same period in the prior year, the firm posted $3.16 EPS. As a group, analysts predict that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.55 per share. 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 1.66%. Nucor's payout ratio is 26.16%.

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.