Northwestern Mutual Wealth Management Co. cut its holdings in shares of Nucor Co. (NYSE:NUE) by 18.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,235 shares of the basic materials company’s stock after selling 1,370 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Nucor were worth $351,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in Nucor by 52.5% during the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 21,783 shares of the basic materials company’s stock worth $1,226,000 after acquiring an additional 7,498 shares in the last quarter. Advisor Partners LLC lifted its holdings in Nucor by 24.6% during the fourth quarter. Advisor Partners LLC now owns 10,248 shares of the basic materials company’s stock worth $548,000 after acquiring an additional 2,021 shares in the last quarter. Parametric Portfolio Associates LLC lifted its holdings in Nucor by 10.7% during the third quarter. Parametric Portfolio Associates LLC now owns 978,644 shares of the basic materials company’s stock worth $49,823,000 after acquiring an additional 94,693 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Nucor in the 4th quarter valued at about $775,000. Finally, Millennium Management LLC raised its stake in shares of Nucor by 37.2% in the 3rd quarter. Millennium Management LLC now owns 94,733 shares of the basic materials company’s stock valued at $4,822,000 after purchasing an additional 25,709 shares during the period. Hedge funds and other institutional investors own 79.97% of the company’s stock.
Several research firms have issued reports on NUE. Longbow Research raised Nucor from a “neutral” rating to a “buy” rating and set a $65.00 price target on the stock in a research note on Monday, December 9th. BMO Capital Markets dropped their price target on Nucor from $57.00 to $30.00 and set a “market perform” rating on the stock in a research note on Friday. Deutsche Bank downgraded Nucor from a “hold” rating to a “sell” rating in a research note on Wednesday, January 29th. KeyCorp dropped their price target on Nucor from $62.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. Finally, Zacks Investment Research raised Nucor from a “strong sell” rating to a “hold” rating and set a $41.00 price target on the stock in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. Nucor currently has an average rating of “Hold” and an average target price of $55.64.
NYSE:NUE opened at $30.63 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.78 and a current ratio of 3.34. The stock’s 50-day simple moving average is $43.15 and its 200 day simple moving average is $51.02. The company has a market cap of $9.28 billion, a P/E ratio of 7.29, a P/E/G ratio of 0.70 and a beta of 1.61. Nucor Co. has a 52-week low of $27.52 and a 52-week high of $61.17.
Nucor (NYSE:NUE) last released its earnings results on Tuesday, January 28th. The basic materials company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.21. The business had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.01 billion. Nucor had a return on equity of 12.12% and a net margin of 5.63%. Nucor’s quarterly revenue was down 18.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.07 earnings per share. As a group, equities analysts predict that Nucor Co. will post 3.67 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, May 11th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.4025 per share. This represents a $1.61 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date of this dividend is Monday, March 30th. Nucor’s dividend payout ratio (DPR) is presently 37.35%.
Nucor Profile
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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