Meeder Asset Management Inc. decreased its stake in Nucor Co. (NYSE:NUE) by 66.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 12,503 shares of the basic materials company’s stock after selling 24,754 shares during the period. Meeder Asset Management Inc.’s holdings in Nucor were worth $796,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Thrivent Financial For Lutherans boosted its stake in Nucor by 1.6% in the 2nd quarter. Thrivent Financial For Lutherans now owns 12,170 shares of the basic materials company’s stock valued at $704,000 after buying an additional 195 shares in the last quarter. Sentry Investment Management LLC boosted its stake in Nucor by 1.3% in the 2nd quarter. Sentry Investment Management LLC now owns 20,879 shares of the basic materials company’s stock valued at $1,208,000 after buying an additional 260 shares in the last quarter. Nomura Holdings Inc. boosted its stake in Nucor by 0.7% in the 2nd quarter. Nomura Holdings Inc. now owns 70,064 shares of the basic materials company’s stock valued at $4,057,000 after buying an additional 484 shares in the last quarter. Trust Co. of Vermont boosted its stake in Nucor by 13.6% in the 4th quarter. Trust Co. of Vermont now owns 6,570 shares of the basic materials company’s stock valued at $417,000 after buying an additional 787 shares in the last quarter. Finally, Advisor Partners LLC boosted its stake in Nucor by 20.7% in the 4th quarter. Advisor Partners LLC now owns 4,884 shares of the basic materials company’s stock valued at $336,000 after buying an additional 836 shares in the last quarter. 74.33% of the stock is currently owned by institutional investors and hedge funds.
NUE has been the topic of several recent analyst reports. Credit Suisse Group boosted their price target on Nucor from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday, October 20th. Zacks Investment Research lowered Nucor from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. KeyCorp reaffirmed a “hold” rating on shares of Nucor in a research note on Thursday, October 19th. ValuEngine upgraded Nucor from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, Cowen lifted their price objective on Nucor from $57.00 to $63.00 and gave the company a “market perform” rating in a research report on Monday, October 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. Nucor presently has a consensus rating of “Buy” and an average target price of $69.90.
Shares of Nucor Co. (NYSE NUE) opened at $60.38 on Friday. The firm has a market capitalization of $20,003.32, a price-to-earnings ratio of 14.58, a PEG ratio of 1.07 and a beta of 1.56. Nucor Co. has a 52-week low of $51.67 and a 52-week high of $70.48. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 2.42.
Nucor (NYSE:NUE) last released its earnings results on Tuesday, January 30th. The basic materials company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.10. The company had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $4.86 billion. Nucor had a return on equity of 13.03% and a net margin of 6.58%. The firm’s quarterly revenue was up 28.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.50 earnings per share. research analysts forecast that Nucor Co. will post 4.92 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, December 29th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.52%. This is an increase from Nucor’s previous quarterly dividend of $0.38. Nucor’s payout ratio is presently 36.72%.
Nucor Company Profile
Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).
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