Nucor Co. (NYSE:NUE) Stock Holdings Increased by Voya Investment Management LLC

Voya Investment Management LLC lifted its holdings in Nucor Co. (NYSE:NUE) by 528.6% in the 4th quarter, HoldingsChannel reports. The firm owned 507,715 shares of the basic materials company’s stock after purchasing an additional 426,949 shares during the quarter. Voya Investment Management LLC’s holdings in Nucor were worth $59,235,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of NUE. Norges Bank acquired a new stake in Nucor in the fourth quarter worth about $398,077,000. First Trust Advisors LP raised its position in shares of Nucor by 24.6% during the 4th quarter. First Trust Advisors LP now owns 2,404,477 shares of the basic materials company’s stock worth $280,627,000 after buying an additional 474,274 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Nucor by 18.7% in the 4th quarter. Invesco Ltd. now owns 2,435,265 shares of the basic materials company’s stock worth $284,220,000 after acquiring an additional 384,205 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Nucor by 25.6% in the fourth quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company’s stock valued at $205,282,000 after acquiring an additional 358,721 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Nucor during the fourth quarter valued at approximately $38,714,000. 76.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. UBS Group upgraded Nucor from a “neutral” rating to a “buy” rating and upped their target price for the stock from $156.00 to $160.00 in a research report on Monday, March 24th. JPMorgan Chase & Co. decreased their target price on Nucor from $156.00 to $140.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Argus set a $155.00 price target on shares of Nucor in a research report on Wednesday, March 5th. Jefferies Financial Group raised their price objective on shares of Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Finally, Morgan Stanley set a $164.00 target price on shares of Nucor in a report on Monday, March 24th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Nucor presently has a consensus rating of “Moderate Buy” and a consensus target price of $160.33.

Nucor Trading Up 0.4 %

Shares of NYSE NUE opened at $115.70 on Friday. The firm has a market capitalization of $26.67 billion, a PE ratio of 13.76, a PEG ratio of 0.96 and a beta of 1.67. Nucor Co. has a one year low of $97.59 and a one year high of $176.83. 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 business has a 50-day moving average price of $122.58 and a two-hundred day moving average price of $131.93.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, beating the consensus estimate 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 last year, the firm posted $3.16 EPS. As a group, analysts predict that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.90%. The ex-dividend date is Monday, March 31st. Nucor’s payout ratio is currently 26.16%.

About Nucor

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.