Nucor Co. (NYSE:NUE) Stock Position Lowered by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ lessened its position in Nucor Co. (NYSE:NUE) by 59.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 94,255 shares of the basic materials company’s stock after selling 137,100 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Nucor were worth $10,920,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. State Street Corp lifted its position in shares of Nucor by 2.9% in the 3rd quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock valued at $1,724,117,000 after acquiring an additional 326,181 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Nucor by 1.3% in 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 acquiring an additional 74,569 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Nucor by 19.8% in the 3rd quarter. Pacer Advisors Inc. now owns 3,456,484 shares of the basic materials company’s stock valued at $519,648,000 after acquiring an additional 571,682 shares in the last quarter. Nordea Investment Management AB lifted its position in Nucor by 25.6% in the 4th quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company’s stock worth $205,282,000 after buying an additional 358,721 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Nucor by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,680,468 shares of the basic materials company’s stock worth $196,127,000 after buying an additional 68,252 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Stock Performance

Shares of NUE opened at $132.26 on Friday. The company’s fifty day moving average is $129.75 and its 200-day moving average is $138.57. Nucor Co. has a 12 month low of $112.25 and a 12 month high of $203.00. The firm has a market cap of $30.49 billion, a price-to-earnings ratio of 15.73, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27.

Nucor (NYSE:NUE) last posted its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period last year, the firm posted $3.16 EPS. Equities analysts expect that Nucor Co. will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be paid a $0.55 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.20 dividend on an annualized basis and a yield of 1.66%. Nucor’s payout ratio is presently 26.16%.

Wall Street Analysts Forecast Growth

NUE has been the subject of a number of research analyst reports. Argus set a $155.00 target price on shares of Nucor in a research report on Wednesday, March 5th. Jefferies Financial Group increased their target price on shares of Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. increased their target price on shares of Nucor from $150.00 to $156.00 and gave the stock an “overweight” rating in a research report on Tuesday. StockNews.com upgraded shares of Nucor from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. Finally, Citigroup cut their target price on shares of Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. 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 company. According to 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.