Vanguard Group Inc. cut its stake in shares of Nucor Co. (NYSE:NUE - Free Report) by 0.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,213,656 shares of the basic materials company's stock after selling 200,901 shares during the period. Vanguard Group Inc. owned approximately 12.02% of Nucor worth $3,292,816,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Widmann Financial Services Inc. lifted its holdings in shares of Nucor by 4.0% during the third quarter. Widmann Financial Services Inc. now owns 1,800 shares of the basic materials company's stock worth $271,000 after purchasing an additional 70 shares during the period. TCI Wealth Advisors Inc. lifted its stake in shares of Nucor by 4.4% in the 4th quarter. TCI Wealth Advisors Inc. now owns 2,157 shares of the basic materials company's stock worth $252,000 after acquiring an additional 91 shares during the period. Jessup Wealth Management Inc lifted its stake in shares of Nucor by 0.9% in the 4th quarter. Jessup Wealth Management Inc now owns 10,528 shares of the basic materials company's stock worth $1,229,000 after acquiring an additional 93 shares during the period. Redwood Investment Management LLC boosted its holdings in shares of Nucor by 1.0% in the third quarter. Redwood Investment Management LLC now owns 9,092 shares of the basic materials company's stock valued at $1,365,000 after acquiring an additional 94 shares in the last quarter. Finally, Beacon Capital Management LLC increased its stake in shares of Nucor by 29.1% during the fourth quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company's stock worth $49,000 after acquiring an additional 94 shares during the period. 76.48% of the stock is currently owned by hedge funds and other institutional investors.
Nucor Price Performance
NYSE NUE traded down $5.57 during trading hours on Friday, reaching $121.90. The company's stock had a trading volume of 2,736,479 shares, compared to its average volume of 1,972,398. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51. The company's 50-day moving average is $130.98 and its two-hundred day moving average is $137.27. Nucor Co. has a fifty-two week low of $112.25 and a fifty-two week high of $203.00. The stock has a market cap of $28.10 billion, a PE ratio of 14.50, a PEG ratio of 0.96 and a beta of 1.58.
Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, beating the consensus estimate 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 last year, the firm earned $3.16 EPS. Analysts forecast that Nucor Co. will post 7.64 EPS for the current year.
Nucor Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be issued a $0.55 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.80%. Nucor's dividend payout ratio (DPR) is 26.16%.
Analysts Set New Price Targets
NUE has been the topic of several recent analyst reports. Morgan Stanley set a $164.00 target price on Nucor in a research report on Monday, March 24th. StockNews.com raised Nucor from a "sell" rating to a "hold" rating in a report on Wednesday, February 12th. The Goldman Sachs Group started coverage on Nucor in a research report on Monday, December 2nd. They issued a "buy" rating and a $190.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on shares of Nucor from $150.00 to $156.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 11th. Finally, Argus set a $155.00 price target on shares of Nucor in a report on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $164.44.
View Our Latest Analysis on Nucor
Nucor Profile
(
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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