Prudential Financial Inc. lessened its holdings in shares of Nucor Co. (NYSE:NUE - Free Report) by 31.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 128,569 shares of the basic materials company's stock after selling 57,766 shares during the period. Prudential Financial Inc. owned 0.05% of Nucor worth $15,005,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Widmann Financial Services Inc. boosted its stake in Nucor by 4.0% during the third quarter. Widmann Financial Services Inc. now owns 1,800 shares of the basic materials company's stock worth $271,000 after acquiring an additional 70 shares in the last quarter. Horrell Capital Management Inc. lifted its holdings in shares of Nucor by 0.3% during the fourth quarter. Horrell Capital Management Inc. now owns 26,657 shares of the basic materials company's stock valued at $3,111,000 after purchasing an additional 76 shares during the last quarter. TCI Wealth Advisors Inc. boosted its position in shares of Nucor by 4.4% in the 4th quarter. TCI Wealth Advisors Inc. now owns 2,157 shares of the basic materials company's stock worth $252,000 after purchasing an additional 91 shares in the last quarter. Jessup Wealth Management Inc grew its stake in shares of Nucor by 0.9% in the 4th quarter. Jessup Wealth Management Inc now owns 10,528 shares of the basic materials company's stock worth $1,229,000 after buying an additional 93 shares during the last quarter. Finally, Redwood Investment Management LLC increased its position in Nucor by 1.0% during the 3rd quarter. Redwood Investment Management LLC now owns 9,092 shares of the basic materials company's stock valued at $1,365,000 after buying an additional 94 shares in the last quarter. Institutional investors own 76.48% of the company's stock.
Nucor Stock Performance
Shares of NYSE NUE traded down $0.66 during midday trading on Tuesday, hitting $119.68. 1,913,803 shares of the stock traded hands, compared to its average volume of 1,979,311. The firm has a market capitalization of $27.59 billion, a P/E ratio of 14.23, a PEG ratio of 0.96 and a beta of 1.58. Nucor Co. has a one year low of $112.25 and a one year high of $203.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51. The firm has a 50-day moving average of $130.79 and a two-hundred day moving average of $136.96.
Nucor (NYSE:NUE - Get Free Report) last posted its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, beating 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 period in the prior year, the business earned $3.16 EPS. On average, equities analysts forecast that Nucor Co. will post 7.64 EPS for the current fiscal year.
Nucor Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.20 annualized dividend and a yield of 1.84%. Nucor's dividend payout ratio (DPR) is 26.16%.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the company. StockNews.com raised Nucor from a "sell" rating to a "hold" rating in a research note on Wednesday, February 12th. Jefferies Financial Group increased their price objective 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. The Goldman Sachs Group assumed coverage on shares of Nucor in a report on Monday, December 2nd. They issued a "buy" rating and a $190.00 target price for the company. UBS Group upgraded shares of Nucor from a "neutral" rating to a "buy" rating and upped their target price for the stock from $156.00 to $160.00 in a research note on Monday, March 24th. Finally, JPMorgan Chase & Co. raised 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, March 11th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Nucor has a consensus rating of "Moderate Buy" and an average target price of $164.44.
Check Out Our Latest Research Report on NUE
Nucor Profile
(
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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