Stifel Financial Corp Sells 2,908 Shares of Nucor Co. (NYSE:NUE)

Stifel Financial Corp lowered its position in Nucor Co. (NYSE:NUE - Free Report) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 119,311 shares of the basic materials company's stock after selling 2,908 shares during the quarter. Stifel Financial Corp owned 0.05% of Nucor worth $13,925,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. M&T Bank Corp lifted its holdings in Nucor by 3.6% in the 3rd quarter. M&T Bank Corp now owns 85,413 shares of the basic materials company's stock worth $12,840,000 after buying an additional 2,977 shares in the last quarter. Pine Valley Investments Ltd Liability Co boosted its holdings in Nucor by 29.6% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 19,037 shares of the basic materials company's stock valued at $2,866,000 after purchasing an additional 4,345 shares during the last quarter. World Investment Advisors LLC acquired a new stake in Nucor during the 3rd quarter valued at approximately $2,024,000. Wilmington Savings Fund Society FSB purchased a new stake in Nucor during the 3rd quarter worth approximately $1,004,000. Finally, Tidal Investments LLC raised its holdings in Nucor by 9.6% in the third quarter. Tidal Investments LLC now owns 36,493 shares of the basic materials company's stock valued at $5,486,000 after acquiring an additional 3,197 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company's stock.

Nucor Stock Up 3.0 %

Shares of NUE traded up $3.31 during midday trading on Thursday, reaching $115.24. 857,753 shares of the stock were exchanged, compared to its average volume of 2,056,170. The company has a market cap of $26.57 billion, a price-to-earnings ratio of 13.69, 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 12-month low of $97.59 and a 12-month high of $178.32. The firm has a 50 day simple moving average of $123.56 and a 200-day simple moving average of $132.41.

Nucor (NYSE:NUE - Get Free Report) last issued its quarterly earnings data 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 net margin of 6.60% and a return on equity of 9.85%. During the same period in the previous year, the business earned $3.16 earnings per share. Research analysts forecast that Nucor Co. will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The business 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. This represents a $2.20 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Monday, March 31st. Nucor's dividend payout ratio (DPR) is currently 26.16%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NUE. JPMorgan Chase & Co. reduced their target price on Nucor from $156.00 to $140.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Jefferies Financial Group increased their price target on Nucor from $125.00 to $135.00 and gave the stock a "hold" rating in a research note on Wednesday, January 29th. The Goldman Sachs Group dropped their price objective on Nucor from $175.00 to $169.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Argus set a $155.00 target price on shares of Nucor in a research note on Wednesday, March 5th. Finally, StockNews.com raised Nucor from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $160.33.

Nucor Company 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.