State of Tennessee Department of Treasury Decreases Stock Holdings in Nucor Co. (NYSE:NUE)

State of Tennessee Department of Treasury decreased its position in Nucor Co. (NYSE:NUE - Free Report) by 3.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,226 shares of the basic materials company's stock after selling 2,309 shares during the quarter. State of Tennessee Department of Treasury's holdings in Nucor were worth $8,663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Nucor Stock Up 0.4 %

Shares of Nucor stock traded up $0.41 on Friday, reaching $115.70. The company's stock had a trading volume of 1,560,850 shares, compared to its average volume of 2,060,493. The company has a market capitalization of $26.67 billion, a price-to-earnings ratio of 13.76, a P/E/G ratio of 0.96 and a beta of 1.67. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. Nucor Co. has a 52 week low of $97.59 and a 52 week high of $176.60. The firm's fifty day simple moving average is $122.58 and its two-hundred day simple moving average is $131.79.

Nucor (NYSE:NUE - Get Free Report) last posted 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 period in the prior year, the firm posted $3.16 earnings per share. Equities analysts anticipate that Nucor Co. will post 7.64 earnings per share for the current year.

Nucor Announces Dividend

The company 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 dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Monday, March 31st. Nucor's payout ratio is 26.16%.

Analysts Set New Price Targets

NUE has been the subject of several recent research reports. Jefferies Financial Group boosted their price objective on Nucor from $125.00 to $135.00 and gave the company a "hold" rating in a research report on Wednesday, January 29th. StockNews.com raised shares of Nucor from a "sell" rating to a "hold" rating in a report on Friday, April 18th. JPMorgan Chase & Co. lowered their price objective on shares of Nucor from $156.00 to $140.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Morgan Stanley set a $164.00 price target on Nucor in a report on Monday, March 24th. Finally, Argus set a $155.00 price objective on Nucor in a research report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Nucor presently has a consensus rating of "Moderate Buy" and a consensus target price of $160.33.

Nucor 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.