Victory Capital Management Inc. Trims Position in Nucor Co. (NYSE:NUE)

Victory Capital Management Inc. lowered its holdings in Nucor Co. (NYSE:NUE - Free Report) by 59.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 159,516 shares of the basic materials company's stock after selling 233,812 shares during the period. Victory Capital Management Inc. owned 0.07% of Nucor worth $18,617,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in NUE. State Street Corp grew its holdings in shares of Nucor by 2.9% during the 3rd quarter. State Street Corp now owns 11,427,899 shares of the basic materials company's stock worth $1,724,117,000 after purchasing an additional 326,181 shares during the period. Geode Capital Management LLC increased its position in shares of Nucor by 1.3% in the third quarter. Geode Capital Management LLC now owns 5,861,945 shares of the basic materials company's stock worth $883,732,000 after acquiring an additional 74,569 shares in the last quarter. Pacer Advisors Inc. boosted its position in Nucor by 19.8% during the 3rd quarter. Pacer Advisors Inc. now owns 3,456,484 shares of the basic materials company's stock worth $519,648,000 after purchasing an additional 571,682 shares during the period. Nordea Investment Management AB increased its holdings in Nucor by 25.6% in the 4th quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company's stock valued at $205,282,000 after purchasing an additional 358,721 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Nucor by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,680,468 shares of the basic materials company's stock valued at $196,127,000 after purchasing an additional 68,252 shares during the period. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group raised their price target on shares of Nucor from $125.00 to $135.00 and gave the company a "hold" rating in a report on Wednesday, January 29th. StockNews.com raised shares of Nucor from a "sell" rating to a "hold" rating in a research report on Wednesday, February 12th. Citigroup lowered their price objective on Nucor from $240.00 to $160.00 and set a "buy" rating for the company in a report on Thursday, December 19th. JPMorgan Chase & Co. boosted their price target on Nucor from $150.00 to $156.00 and gave the company an "overweight" rating in a report on Tuesday. Finally, 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 report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $164.33.

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Nucor Trading Up 2.7 %

Shares of NUE stock opened at $130.07 on Wednesday. The firm has a market capitalization of $29.99 billion, a P/E ratio of 15.47, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58. Nucor Co. has a 1 year low of $112.25 and a 1 year high of $203.00. The firm's fifty day simple moving average is $128.83 and its 200 day simple moving average is $138.81. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings data 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 quarter in the prior year, the business posted $3.16 earnings per share. As a group, sell-side analysts predict that Nucor Co. will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be paid a $0.55 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.20 annualized dividend and a dividend yield of 1.69%. Nucor's dividend payout ratio is presently 26.16%.

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.

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