By otakuyassine3@gmail.com 
Allworth Financial LP grew its holdings in Nucor Co. (NYSE:NUE – Free Report) by 65.9% during the 4th quarter, HoldingsChannel reports. The firm owned 1,375 shares of the basic materials company’s stock after acquiring an additional 546 shares during the quarter. Allworth Financial LP’s holdings in Nucor were worth $168,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in NUE. Private Advisor Group LLC grew its position in shares of Nucor by 5.1% in the third quarter. Private Advisor Group LLC now owns 18,349 shares of the basic materials company’s stock valued at $2,759,000 after purchasing an additional 888 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Nucor by 14,525.9% in the third quarter. International Assets Investment Management LLC now owns 326,889 shares of the basic materials company’s stock valued at $49,144,000 after buying an additional 324,654 shares during the period. Brighton Jones LLC lifted its stake in shares of Nucor by 108.3% in the third quarter. Brighton Jones LLC now owns 4,620 shares of the basic materials company’s stock valued at $695,000 after buying an additional 2,402 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Nucor by 16.7% in the third quarter. Assenagon Asset Management S.A. now owns 24,436 shares of the basic materials company’s stock valued at $3,674,000 after buying an additional 3,491 shares during the period. Finally, BayBridge Capital Group LLC lifted its stake in shares of Nucor by 9.4% in the third quarter. BayBridge Capital Group LLC now owns 2,954 shares of the basic materials company’s stock valued at $444,000 after buying an additional 254 shares during the period. 76.48% of the stock is owned by institutional investors and hedge funds.
Nucor Stock Performance
NYSE:NUE opened at $135.19 on Friday. Nucor Co. has a 1 year low of $112.25 and a 1 year high of $203.00. The firm has a 50 day moving average of $125.19 and a 200-day moving average of $139.89. 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 stock has a market capitalization of $31.74 billion, a P/E ratio of 16.07, a price-to-earnings-growth ratio of 0.96 and a beta of 1.60.
Nucor (NYSE:NUE – Get Free Report) last posted 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 previous year, the company earned $3.16 earnings per share. As a group, sell-side analysts anticipate that Nucor Co. will post 7.64 EPS for the current fiscal 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. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Monday, March 31st. Nucor’s dividend payout ratio (DPR) is currently 26.16%.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of 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 reduced their target price on shares of Nucor from $166.00 to $154.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Citigroup cut their price target 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. The Goldman Sachs Group began coverage on shares of Nucor in a research note on Monday, December 2nd. They set a “buy” rating and a $190.00 price target for the company. Finally, UBS Group restated a “neutral” rating and set a $156.00 price target (down previously from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Nucor currently has an average rating of “Moderate Buy” and an average target price of $163.13.
Get Our Latest Stock Report on NUE
Nucor 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.
Further Reading
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