Fisher Funds Management LTD Purchases Shares of 86,252 Nucor Co. (NYSE:NUE)

Fisher Funds Management LTD acquired a new stake in shares of Nucor Co. (NYSE:NUE) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 86,252 shares of the basic materials company’s stock, valued at approximately $10,118,000.

Several other large investors have also modified their holdings of the stock. Ashton Thomas Securities LLC purchased a new stake in shares of Nucor during the third quarter valued at $26,000. Coastline Trust Co purchased a new stake in Nucor during the third quarter valued at about $29,000. Crews Bank & Trust acquired a new position in shares of Nucor in the fourth quarter worth about $29,000. New Wave Wealth Advisors LLC purchased a new position in shares of Nucor in the fourth quarter worth approximately $33,000. Finally, Salomon & Ludwin LLC raised its holdings in shares of Nucor by 45.6% during the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 72 shares during the period. 76.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NUE has been the subject of a number of research analyst reports. The Goldman Sachs Group assumed coverage on Nucor in a report on Monday, December 2nd. They issued a “buy” rating and a $190.00 target price for the company. JPMorgan Chase & Co. decreased their price objective on Nucor from $152.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Citigroup dropped their target price on Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Jefferies Financial Group raised their price target on shares of Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Finally, UBS Group reiterated a “neutral” rating and issued a $156.00 price objective (down previously from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $163.13.

Nucor Stock Down 3.4 %

Nucor stock opened at $135.19 on Friday. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. Nucor Co. has a 1-year low of $112.25 and a 1-year high of $203.00. The firm’s fifty day simple moving average is $125.19 and its 200-day simple moving average is $139.82. The company has a market capitalization of $31.74 billion, a P/E ratio of 16.07, a P/E/G ratio of 0.96 and a beta of 1.60.

Nucor (NYSE:NUE) last posted its earnings results 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 return on equity of 9.85% and a net margin of 6.60%. During the same quarter last year, the company earned $3.16 EPS. Sell-side analysts forecast that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business 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 dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.20 dividend on an annualized basis and a yield of 1.63%. Nucor’s payout ratio is currently 26.16%.

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.