Comerica Bank boosted its stake in shares of Nucor Co. (NYSE:NUE) by 5.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 97,975 shares of the basic materials company’s stock after acquiring an additional 4,872 shares during the period. Comerica Bank’s holdings in Nucor were worth $4,787,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of NUE. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Nucor by 52.5% in the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 21,783 shares of the basic materials company’s stock valued at $1,226,000 after buying an additional 7,498 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Nucor by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,532,969 shares of the basic materials company’s stock valued at $86,276,000 after buying an additional 40,207 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in shares of Nucor by 7.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 9,232 shares of the basic materials company’s stock valued at $520,000 after buying an additional 633 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Nucor by 29.4% in the fourth quarter. Acadian Asset Management LLC now owns 116,573 shares of the basic materials company’s stock valued at $6,561,000 after buying an additional 26,508 shares during the last quarter. Finally, Delta Financial Advisors LLC raised its position in shares of Nucor by 0.7% in the fourth quarter. Delta Financial Advisors LLC now owns 44,523 shares of the basic materials company’s stock valued at $2,506,000 after buying an additional 305 shares during the last quarter. Institutional investors own 78.97% of the company’s stock.
A number of equities research analysts have recently commented on the stock. KeyCorp reduced their target price on shares of Nucor from $62.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Deutsche Bank cut shares of Nucor from a “hold” rating to a “sell” rating in a research report on Wednesday, January 29th. Exane BNP Paribas assumed coverage on shares of Nucor in a research report on Thursday, November 14th. They issued an “outperform” rating and a $71.00 target price for the company. Goldman Sachs Group cut shares of Nucor from a “buy” rating to a “neutral” rating and reduced their target price for the company from $60.00 to $55.00 in a research report on Friday, January 31st. Finally, BNP Paribas assumed coverage on shares of Nucor in a research report on Thursday, November 14th. They issued a “buy” rating and a $71.00 target price for the company. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $58.50.
Nucor stock opened at $48.57 on Monday. Nucor Co. has a 12-month low of $46.10 and a 12-month high of $62.04. The stock has a market cap of $14.51 billion, a P/E ratio of 11.73, a PEG ratio of 1.03 and a beta of 1.63. The company has a 50-day moving average price of $50.58 and a 200 day moving average price of $52.43. The company has a current ratio of 3.34, a quick ratio of 1.78 and a debt-to-equity ratio of 0.40.
Nucor (NYSE:NUE) last released its quarterly earnings data on Tuesday, January 28th. The basic materials company reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.21. Nucor had a net margin of 5.63% and a return on equity of 12.12%. The firm had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.01 billion. During the same period last year, the business earned $2.07 earnings per share. Nucor’s revenue was down 18.5% compared to the same quarter last year. As a group, analysts forecast that Nucor Co. will post 3.88 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 11th. Investors of record on Tuesday, March 31st will be given a dividend of $0.4025 per share. This represents a $1.61 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Monday, March 30th. Nucor’s payout ratio is currently 37.35%.
About Nucor
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.
Read More: How to build a Fibonacci channel
Receive News & Ratings for Nucor Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Nucor and related companies with MarketBeat.com’s FREE daily email newsletter.
