Stephens Inc. AR raised its position in Nucor Co. (NYSE:NUE - Free Report) by 38.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,455 shares of the basic materials company's stock after acquiring an additional 2,327 shares during the period. Stephens Inc. AR's holdings in Nucor were worth $987,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in Nucor in the third quarter valued at about $26,000. Coastline Trust Co acquired a new stake in shares of Nucor in the 3rd quarter worth approximately $29,000. Crews Bank & Trust purchased a new position in Nucor in the 4th quarter valued at approximately $29,000. Brown Lisle Cummings Inc. acquired a new position in shares of Nucor during the 3rd quarter worth $30,000. Finally, New Wave Wealth Advisors LLC purchased a new stake in shares of Nucor in the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 76.48% of the company's stock.
Nucor Trading Up 1.6 %
NUE traded up $2.20 during midday trading on Monday, hitting $137.75. The company's stock had a trading volume of 2,108,211 shares, compared to its average volume of 2,773,291. The firm has a market cap of $32.34 billion, a P/E ratio of 16.38 and a beta of 1.60. Nucor Co. has a 52-week low of $112.25 and a 52-week high of $203.00. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average price of $124.89 and a two-hundred day moving average price of $140.18.
Nucor (NYSE:NUE - Get Free Report) last released its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating 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 business earned $3.16 earnings per share. On average, research analysts anticipate that Nucor Co. will post 7.88 earnings per share for the current year.
Nucor Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Investors of record on Tuesday, December 31st were given a $0.55 dividend. This is a positive change from Nucor's previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Tuesday, December 31st. Nucor's dividend payout ratio (DPR) is 26.16%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on NUE. Citigroup dropped their price objective on shares of Nucor from $240.00 to $160.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. StockNews.com raised Nucor from a "sell" rating to a "hold" rating in a report on Wednesday, February 12th. UBS Group reaffirmed a "neutral" rating and set a $156.00 price objective (down previously from $171.00) on shares of Nucor in a research note on Thursday, December 12th. JPMorgan Chase & Co. dropped their price objective on Nucor from $152.00 to $150.00 and set an "overweight" rating for the company in a research report on Wednesday, January 29th. Finally, The Goldman Sachs Group initiated coverage on shares of Nucor in a report on Monday, December 2nd. They issued a "buy" rating and a $190.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Nucor currently has a consensus rating of "Moderate Buy" and an average target price of $163.13.
Read Our Latest Research Report on Nucor
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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