Nemes Rush Group LLC Trims Stock Holdings in Nucor Co. (NYSE:NUE)

Nemes Rush Group LLC reduced its holdings in shares of Nucor Co. (NYSE:NUE) by 5.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,185 shares of the basic materials company’s stock after selling 252 shares during the quarter. Nemes Rush Group LLC’s holdings in Nucor were worth $488,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of NUE. State Street Corp boosted its holdings in shares of Nucor by 2.9% in 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 acquiring an additional 326,181 shares during the period. Everence Capital Management Inc. bought a new position in Nucor in the 4th quarter worth about $565,000. Geode Capital Management LLC grew its holdings in Nucor by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,861,945 shares of the basic materials company’s stock valued at $883,732,000 after buying an additional 74,569 shares in the last quarter. InvesTrust bought a new stake in shares of Nucor during the fourth quarter valued at about $4,388,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Nucor by 15.8% in the third quarter. Wellington Management Group LLP now owns 249,984 shares of the basic materials company’s stock worth $37,583,000 after buying an additional 34,149 shares in the last quarter. 76.48% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NUE. JPMorgan Chase & Co. upped their target price on shares of Nucor from $150.00 to $156.00 and gave the stock an “overweight” rating in a report on Tuesday, March 11th. Argus set a $155.00 price target on shares of Nucor in a report on Wednesday, March 5th. Citigroup dropped their price objective on Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Jefferies Financial Group raised their price target on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Finally, UBS Group raised Nucor from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $156.00 to $160.00 in a report on Monday, March 24th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $164.44.

Nucor Price Performance

Shares of Nucor stock opened at $119.68 on Wednesday. The business’s 50-day moving average price is $130.79 and its 200-day moving average price is $136.96. The firm has a market capitalization of $27.59 billion, a PE ratio of 14.23, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58. Nucor Co. has a 12 month low of $112.25 and a 12 month high of $203.00. 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 (NYSE:NUE) last posted its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, topping the consensus estimate of $0.94 by $0.28. Nucor had a net margin of 6.60% and a return on equity of 9.85%. During the same quarter in the prior year, the firm earned $3.16 EPS. Sell-side analysts forecast that Nucor Co. will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

The firm also recently declared 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 is Monday, March 31st. This represents a $2.20 annualized dividend and a yield of 1.84%. Nucor’s payout ratio is 26.16%.

Nucor Company 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.