Nucor Co. (NYSE:NUE) Stock Position Reduced by Sei Investments Co.

Sei Investments Co. lessened its stake in Nucor Co. (NYSE:NUE - Free Report) by 45.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,956 shares of the basic materials company's stock after selling 32,727 shares during the period. Sei Investments Co.'s holdings in Nucor were worth $4,546,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Crews Bank & Trust bought a new stake in shares of Nucor in the 4th quarter worth about $29,000. New Wave Wealth Advisors LLC bought a new stake in Nucor in the fourth quarter valued at about $33,000. Versant Capital Management Inc raised its stake in Nucor by 60.3% during the fourth quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company's stock valued at $35,000 after buying an additional 114 shares in the last quarter. Beacon Capital Management LLC lifted its holdings in Nucor by 29.1% during the 4th quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company's stock worth $49,000 after buying an additional 94 shares during the last quarter. Finally, Millstone Evans Group LLC acquired a new position in shares of Nucor in the 4th quarter worth approximately $50,000. 76.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NUE has been the topic of several research reports. The Goldman Sachs Group dropped their price target on Nucor from $175.00 to $169.00 and set a "buy" rating on the stock in a research report on Monday. StockNews.com downgraded shares of Nucor from a "hold" rating to a "sell" rating in a research report on Monday. Citigroup cut 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. JPMorgan Chase & Co. increased their price target on Nucor from $150.00 to $156.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 11th. Finally, UBS Group upgraded Nucor from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $156.00 to $160.00 in a research report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Nucor currently has a consensus rating of "Moderate Buy" and a consensus target price of $162.11.

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Nucor Price Performance

Shares of NUE traded up $1.66 during trading hours on Monday, hitting $104.88. 4,102,216 shares of the company were exchanged, compared to its average volume of 2,021,501. The firm has a fifty day simple moving average of $129.85 and a 200-day simple moving average of $136.00. The company has a market capitalization of $24.18 billion, a PE ratio of 12.47, a PEG 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 one year low of $95.70 and a one year high of $203.00.

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 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 previous year, the company posted $3.16 EPS. As a group, sell-side analysts predict that Nucor Co. will post 7.64 earnings per share for the current year.

Nucor Dividend Announcement

The firm also recently declared 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. This represents a $2.20 annualized dividend and a yield of 2.10%. The ex-dividend date is Monday, March 31st. 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.