New Mexico Educational Retirement Board boosted its stake in Nucor Co. (NYSE:NUE) by 3.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 30,709 shares of the basic materials company’s stock after acquiring an additional 1,100 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Nucor were worth $1,952,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Trust Co. of Vermont boosted its stake in Nucor by 13.6% in the 4th quarter. Trust Co. of Vermont now owns 6,570 shares of the basic materials company’s stock worth $417,000 after purchasing an additional 787 shares during the period. Advisor Partners LLC boosted its stake in Nucor by 20.7% in the 4th quarter. Advisor Partners LLC now owns 4,884 shares of the basic materials company’s stock worth $336,000 after purchasing an additional 836 shares during the period. Xact Kapitalforvaltning AB boosted its stake in Nucor by 3.4% in the 3rd quarter. Xact Kapitalforvaltning AB now owns 26,056 shares of the basic materials company’s stock worth $1,460,000 after purchasing an additional 845 shares during the period. Butensky & Cohen Financial Security Inc. boosted its stake in Nucor by 3.2% in the 4th quarter. Butensky & Cohen Financial Security Inc. now owns 27,570 shares of the basic materials company’s stock worth $1,753,000 after purchasing an additional 845 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Nucor by 1.8% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 48,489 shares of the basic materials company’s stock worth $3,268,000 after purchasing an additional 868 shares during the period. Institutional investors and hedge funds own 74.10% of the company’s stock.
Several research analysts have commented on NUE shares. ValuEngine upgraded Nucor from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Zacks Investment Research downgraded Nucor from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. Jefferies Group reiterated a “buy” rating and set a $76.00 price target on shares of Nucor in a research report on Wednesday, January 31st. Cowen lifted their price target on Nucor from $57.00 to $63.00 and gave the company a “market perform” rating in a research report on Monday, October 23rd. Finally, Bank of America set a $75.00 price target on Nucor and gave the company a “buy” rating in a research report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $69.70.
Shares of Nucor Co. (NYSE NUE) opened at $68.54 on Friday. The stock has a market capitalization of $21,790.03, a PE ratio of 16.56, a PEG ratio of 1.17 and a beta of 1.56. The company has a current ratio of 2.42, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36. Nucor Co. has a 12-month low of $51.67 and a 12-month high of $70.48.
Nucor (NYSE:NUE) last released its earnings results on Tuesday, January 30th. The basic materials company reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.10. The company had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $4.86 billion. Nucor had a return on equity of 13.03% and a net margin of 6.58%. Nucor’s quarterly revenue was up 28.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS. sell-side analysts forecast that Nucor Co. will post 4.87 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Friday, December 29th were given a $0.38 dividend. This is an increase from Nucor’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $1.52 dividend on an annualized basis and a yield of 2.22%. Nucor’s payout ratio is presently 36.72%.
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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