Van ECK Associates Corp Sells 58,381 Shares of Nucor Co. (NYSE:NUE)

Van ECK Associates Corp cut its stake in Nucor Co. (NYSE:NUE - Free Report) by 26.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 160,317 shares of the basic materials company's stock after selling 58,381 shares during the period. Van ECK Associates Corp owned 0.07% of Nucor worth $18,711,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in NUE. Ashton Thomas Securities LLC acquired a new position in shares of Nucor during the third quarter valued at $26,000. Coastline Trust Co acquired a new position in shares of Nucor during the third quarter valued at $29,000. Brown Lisle Cummings Inc. acquired a new position in shares of Nucor during the third quarter valued at $30,000. Salomon & Ludwin LLC increased its holdings in shares of Nucor by 45.6% during the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company's stock valued at $35,000 after purchasing an additional 72 shares during the period. Finally, Crews Bank & Trust bought a new position in Nucor during the fourth quarter valued at about $29,000. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor Stock Down 1.9 %

Nucor stock traded down $2.67 during mid-day trading on Wednesday, hitting $139.85. The company's stock had a trading volume of 2,327,724 shares, compared to its average volume of 2,913,184. The firm's 50 day moving average is $124.79 and its 200 day moving average is $139.99. The company has a market cap of $32.84 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 0.95 and a beta of 1.60. 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 52-week low of $112.25 and a 52-week high of $203.00.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate 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 prior year, the company posted $3.16 earnings per share. On average, analysts anticipate that Nucor Co. will post 7.64 earnings per share for the current year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders 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 dividend yield of 1.57%. The ex-dividend date is Monday, March 31st. Nucor's dividend payout ratio (DPR) is presently 26.16%.

Analyst Upgrades and Downgrades

NUE has been the subject of several research reports. JPMorgan Chase & Co. decreased their target price on Nucor from $152.00 to $150.00 and set an "overweight" rating for the company in a research note on Wednesday, January 29th. Morgan Stanley decreased their target price on Nucor from $166.00 to $154.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Jefferies Financial Group raised their target price on Nucor from $125.00 to $135.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. UBS Group reiterated a "neutral" rating and issued a $156.00 price target (down previously from $171.00) on shares of Nucor in a research report on Thursday, December 12th. Finally, The Goldman Sachs Group initiated coverage on Nucor in a research report on Monday, December 2nd. They issued a "buy" rating and a $190.00 price target for the company. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $163.13.

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.