Stone Ridge Asset Management LLC reduced its position in Nucor Co. (NYSE:NUE) by 16.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,253 shares of the basic materials company’s stock after selling 8,600 shares during the quarter. Stone Ridge Asset Management LLC’s holdings in Nucor were worth $2,434,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of NUE. Mutual Advisors LLC lifted its holdings in shares of Nucor by 4.0% during the third quarter. Mutual Advisors LLC now owns 4,901 shares of the basic materials company’s stock valued at $250,000 after acquiring an additional 187 shares during the period. Boston Private Wealth LLC lifted its holdings in shares of Nucor by 0.9% during the third quarter. Boston Private Wealth LLC now owns 21,847 shares of the basic materials company’s stock valued at $1,112,000 after acquiring an additional 190 shares during the period. Signaturefd LLC lifted its holdings in shares of Nucor by 29.9% during the third quarter. Signaturefd LLC now owns 981 shares of the basic materials company’s stock valued at $50,000 after acquiring an additional 226 shares during the period. First Mercantile Trust Co. lifted its holdings in shares of Nucor by 7.6% during the fourth quarter. First Mercantile Trust Co. now owns 3,204 shares of the basic materials company’s stock valued at $180,000 after acquiring an additional 227 shares during the period. Finally, Icon Wealth Partners LLC lifted its holdings in shares of Nucor by 6.1% during the third quarter. Icon Wealth Partners LLC now owns 4,007 shares of the basic materials company’s stock valued at $204,000 after acquiring an additional 231 shares during the period. 78.34% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on NUE. Credit Suisse Group cut their price objective on Nucor from $61.00 to $57.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. Goldman Sachs Group cut Nucor from a “buy” rating to a “neutral” rating and cut their price objective for the company from $60.00 to $55.00 in a report on Friday, January 31st. BNP Paribas began coverage on Nucor in a report on Thursday, November 14th. They set a “buy” rating and a $71.00 price objective for the company. KeyCorp reissued a “buy” rating and set a $62.00 price objective (up from $60.00) on shares of Nucor in a report on Wednesday, November 13th. Finally, Longbow Research raised Nucor from a “neutral” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Monday, December 9th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $58.70.
Shares of NYSE:NUE traded down $1.00 during midday trading on Friday, reaching $46.95. The company’s stock had a trading volume of 872,397 shares, compared to its average volume of 2,302,455. Nucor Co. has a fifty-two week low of $46.10 and a fifty-two week high of $62.04. The company has a market capitalization of $14.56 billion, a P/E ratio of 11.34, a P/E/G ratio of 1.01 and a beta of 1.63. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.34 and a quick ratio of 1.78. The business’s fifty day simple moving average is $51.86 and its 200-day simple moving average is $52.69.
Nucor (NYSE:NUE) last announced its earnings results on Tuesday, January 28th. The basic materials company reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.21. Nucor had a return on equity of 12.12% and a net margin of 5.63%. The company had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.01 billion. During the same period last year, the company posted $2.07 earnings per share. The firm’s quarterly revenue was down 18.5% compared to the same quarter last year. On average, analysts forecast that Nucor Co. will post 3.93 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st were paid a $0.4025 dividend. The ex-dividend date of this dividend was Monday, December 30th. This is a positive change from Nucor’s previous quarterly dividend of $0.40. This represents a $1.61 dividend on an annualized basis and a dividend yield of 3.43%. Nucor’s dividend payout ratio (DPR) is 37.35%.
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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