BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its stake in shares of Nucor Co. (NYSE:NUE) by 0.8% 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 272,143 shares of the basic materials company’s stock after selling 2,296 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.09% of Nucor worth $17,303,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Main Street Research LLC boosted its stake in Nucor by 1.9% during the fourth quarter. Main Street Research LLC now owns 200,752 shares of the basic materials company’s stock worth $12,764,000 after buying an additional 3,730 shares during the period. Van ECK Associates Corp boosted its stake in Nucor by 8.7% during the third quarter. Van ECK Associates Corp now owns 137,909 shares of the basic materials company’s stock worth $7,728,000 after buying an additional 11,093 shares during the period. SG Americas Securities LLC boosted its stake in Nucor by 330.3% during the fourth quarter. SG Americas Securities LLC now owns 63,096 shares of the basic materials company’s stock worth $4,012,000 after buying an additional 48,432 shares during the period. Bank of Montreal Can boosted its stake in Nucor by 60.4% during the fourth quarter. Bank of Montreal Can now owns 514,931 shares of the basic materials company’s stock worth $32,739,000 after buying an additional 194,001 shares during the period. Finally, Capital One National Association boosted its stake in Nucor by 20.1% during the fourth quarter. Capital One National Association now owns 8,784 shares of the basic materials company’s stock worth $559,000 after buying an additional 1,470 shares during the period. 80.07% of the stock is owned by institutional investors.
Several research analysts have weighed in on NUE shares. ValuEngine raised shares of Nucor from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Longbow Research raised shares of Nucor from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 20th. Zacks Investment Research lowered shares of Nucor from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. Bank of America set a $75.00 target price on shares of Nucor and gave the stock a “buy” rating in a research note on Monday, January 8th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $77.00 target price on shares of Nucor in a research note on Tuesday, January 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $69.54.
Shares of Nucor stock opened at $59.44 on Friday. The stock has a market cap of $19,422.75, a PE ratio of 14.36, a PEG ratio of 0.96 and a beta of 1.51. Nucor Co. has a 1 year low of $51.67 and a 1 year 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 issued its quarterly earnings results on Tuesday, January 30th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.10. The business had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $4.86 billion. Nucor had a net margin of 6.58% and a return on equity of 13.03%. The business’s quarterly revenue was up 28.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 earnings per share. research analysts expect that Nucor Co. will post 5.3 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 11th. Stockholders of record on Thursday, March 29th will be given a dividend of $0.38 per share. The ex-dividend date is Wednesday, March 28th. This represents a $1.52 annualized dividend and a dividend yield of 2.56%. Nucor’s dividend payout ratio is presently 36.72%.
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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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