By otakuyassine3@gmail.com 
Asset Management One Co. Ltd. lessened its stake in shares of Nucor Co. (NYSE:NUE – Free Report) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,770 shares of the basic materials company’s stock after selling 901 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Nucor were worth $10,763,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in Nucor in the 3rd quarter valued at approximately $26,000. Coastline Trust Co purchased a new position in shares of Nucor during the third quarter worth $29,000. Brown Lisle Cummings Inc. acquired a new stake in shares of Nucor in the third quarter valued at $30,000. Salomon & Ludwin LLC raised its holdings in shares of Nucor by 45.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock valued at $35,000 after buying an additional 72 shares during the period. Finally, Crews Bank & Trust acquired a new position in Nucor during the 4th quarter worth about $29,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages recently weighed in on NUE. JPMorgan Chase & Co. dropped their price objective on shares of Nucor from $152.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. The Goldman Sachs Group started coverage on shares of Nucor in a research note on Monday, December 2nd. They issued a “buy” rating and a $190.00 price target for the company. Citigroup decreased their target price on Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Jefferies Financial Group increased their price target on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Finally, UBS Group reissued a “neutral” rating and set a $156.00 price objective (down from $171.00) on shares of Nucor in a research report on Thursday, December 12th. Four investment 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 stock. According to data from MarketBeat, Nucor presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.13.
Check Out Our Latest Stock Analysis on Nucor
Nucor Stock Performance
Shares of Nucor stock opened at $137.75 on Monday. 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 52 week low of $112.25 and a 52 week high of $203.00. The firm’s 50 day moving average is $124.89 and its two-hundred day moving average is $140.34. The firm has a market capitalization of $32.34 billion, a P/E ratio of 16.38 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 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 prior year, the business posted $3.16 EPS. Research analysts forecast that Nucor Co. will post 7.88 EPS for the current fiscal year.
Nucor Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st were issued a $0.55 dividend. This is an increase from Nucor’s previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Tuesday, December 31st. Nucor’s 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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