Harbour Investments Inc. Sells 111 Shares of Nucor Co. (NYSE:NUE)

Harbour Investments Inc. trimmed its stake in Nucor Co. (NYSE:NUE) by 7.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,426 shares of the basic materials company’s stock after selling 111 shares during the period. Harbour Investments Inc.’s holdings in Nucor were worth $166,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of NUE. Nordea Investment Management AB grew its position in Nucor by 25.6% in the fourth quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company’s stock valued at $205,282,000 after acquiring an additional 358,721 shares during the period. Raymond James Financial Inc. bought a new stake in Nucor in the fourth quarter valued at $38,714,000. State Street Corp grew its holdings in shares of Nucor by 2.9% during the third quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock worth $1,724,117,000 after purchasing an additional 326,181 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Nucor during the third quarter worth $46,731,000. Finally, OFI Invest Asset Management bought a new stake in shares of Nucor during the fourth quarter worth $25,906,000. 76.48% of the stock is currently owned by institutional investors.

Nucor Trading Down 5.8 %

NYSE NUE opened at $122.02 on Friday. The firm has a market cap of $28.13 billion, a P/E ratio of 14.51, a P/E/G ratio of 0.96 and a beta of 1.58. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48. The stock’s 50-day moving average is $130.65 and its 200-day moving average is $137.75. Nucor Co. has a one year low of $112.25 and a one year high of $203.00.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates 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 anticipate that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Monday, March 31st. Nucor’s dividend payout ratio is currently 26.16%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on NUE shares. Citigroup decreased 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. Morgan Stanley increased their target price on Nucor from $154.00 to $167.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. UBS Group reaffirmed a “neutral” rating and set a $156.00 price target (down previously from $171.00) on shares of Nucor in a research note on Thursday, December 12th. The Goldman Sachs Group assumed coverage on Nucor in a research note on Monday, December 2nd. They set a “buy” rating and a $190.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price target on Nucor from $150.00 to $156.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $164.33.

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.