Rhumbline Advisers cut its stake in Nucor Co. (NYSE:NUE - Free Report) by 1.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 428,195 shares of the basic materials company's stock after selling 6,036 shares during the period. Rhumbline Advisers owned about 0.18% of Nucor worth $49,975,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Mizuho Securities USA LLC lifted its holdings in Nucor by 8,530.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 1,595,179 shares of the basic materials company's stock valued at $239,819,000 after purchasing an additional 1,576,695 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Nucor by 19.8% in the third quarter. Pacer Advisors Inc. now owns 3,456,484 shares of the basic materials company's stock valued at $519,648,000 after acquiring an additional 571,682 shares during the last quarter. Ceredex Value Advisors LLC bought a new position in shares of Nucor in the third quarter valued at approximately $74,829,000. Nordea Investment Management AB boosted its holdings 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 acquiring an additional 358,721 shares in the last quarter. Finally, State Street Corp grew its position in Nucor by 2.9% during the 3rd quarter. State Street Corp now owns 11,427,899 shares of the basic materials company's stock worth $1,724,117,000 after acquiring an additional 326,181 shares during the last quarter. Institutional investors own 76.48% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on NUE shares. StockNews.com upgraded Nucor from a "sell" rating to a "hold" rating in a research report on Wednesday, February 12th. UBS Group reaffirmed a "neutral" rating and issued a $156.00 price target (down from $171.00) on shares of Nucor in a report on Thursday, December 12th. Morgan Stanley decreased their price objective on shares of Nucor from $166.00 to $154.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Jefferies Financial Group boosted their target price on shares of Nucor from $125.00 to $135.00 and gave the stock a "hold" rating in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Nucor from $152.00 to $150.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $163.13.
View Our Latest Stock Report on NUE
Nucor Trading Down 3.4 %
Shares of NYSE:NUE traded down $4.77 during trading on Friday, hitting $135.19. 2,277,287 shares of the company's stock were exchanged, compared to its average volume of 2,865,920. The firm has a 50-day moving average price of $125.00 and a two-hundred day moving average price of $139.99. Nucor Co. has a 1-year low of $112.25 and a 1-year high of $203.00. The firm has a market cap of $31.74 billion, a P/E ratio of 16.07, a PEG ratio of 0.96 and a beta of 1.60. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27.
Nucor (NYSE:NUE - Get Free Report) last released its earnings results 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 net margin of 6.60% and a return on equity of 9.85%. During the same quarter last year, the firm posted $3.16 earnings per share. Equities analysts predict that Nucor Co. will post 7.64 earnings per share for the current year.
Nucor Announces Dividend
The business also recently announced 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. This represents a $2.20 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Monday, March 31st. Nucor's payout ratio is 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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