Nucor Co. (NYSE:NUE) Stock Position Decreased by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co lowered its holdings in Nucor Co. (NYSE:NUE) by 19.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 193,869 shares of the basic materials company’s stock after selling 46,134 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.08% of Nucor worth $38,370,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Criterion Capital Advisors LLC acquired a new position in Nucor during the 4th quarter valued at approximately $25,000. Rise Advisors LLC acquired a new position in shares of Nucor during the first quarter valued at $27,000. Chilton Capital Management LLC grew its position in shares of Nucor by 94.2% during the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 65 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of Nucor in the 1st quarter worth about $28,000. Finally, Tompkins Financial Corp lifted its position in Nucor by 208.0% in the 1st quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 104 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NUE has been the topic of several analyst reports. Jefferies Financial Group started coverage on Nucor in a research report on Monday, May 20th. They issued a “hold” rating and a $190.00 target price on the stock. JPMorgan Chase & Co. cut their price objective on shares of Nucor from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 16th. BMO Capital Markets reduced their price objective on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a report on Monday, June 17th. StockNews.com cut shares of Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Finally, Bank of America reduced their price target on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $191.29.

Nucor Price Performance

NUE stock traded up $3.34 on Thursday, hitting $158.13. 679,586 shares of the company’s stock traded hands, compared to its average volume of 1,473,105. The stock has a market cap of $37.91 billion, a price-to-earnings ratio of 9.29 and a beta of 1.57. Nucor Co. has a 1-year low of $140.07 and a 1-year high of $203.00. The company has a current ratio of 4.02, a quick ratio of 2.48 and a debt-to-equity ratio of 0.31. The stock has a fifty day moving average of $161.02 and a 200-day moving average of $175.79.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.37. The company had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $7.69 billion. Nucor had a return on equity of 15.68% and a net margin of 10.45%. The firm’s revenue was down 15.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.81 earnings per share. On average, analysts forecast that Nucor Co. will post 10.72 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.54 per share. The ex-dividend date is Friday, June 28th. This represents a $2.16 annualized dividend and a yield of 1.37%. Nucor’s payout ratio is presently 12.71%.

Nucor Profile

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.