Charles Schwab Investment Management Inc. cut its holdings in Nucor Co. (NYSE:NUE – Get Rating) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,525,022 shares of the basic materials company’s stock after selling 23,875 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.53% of Nucor worth $174,081,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Marshall Wace North America L.P. bought a new position in shares of Nucor during the first quarter valued at about $54,000. FMR LLC raised its stake in shares of Nucor by 123.0% during the first quarter. FMR LLC now owns 674,154 shares of the basic materials company’s stock valued at $39,337,000 after acquiring an additional 371,876 shares during the last quarter. Center for Financial Planning Inc. bought a new position in shares of Nucor during the third quarter valued at about $79,000. BOKF NA purchased a new position in shares of Nucor during the third quarter valued at about $1,762,000. Finally, American Century Companies Inc. increased its position in shares of Nucor by 0.8% during the third quarter. American Century Companies Inc. now owns 314,234 shares of the basic materials company’s stock valued at $30,949,000 after buying an additional 2,426 shares during the period. 77.70% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on the stock. Morgan Stanley boosted their price target on shares of Nucor from $107.00 to $108.00 and gave the company an “equal weight” rating in a research report on Monday, January 31st. JPMorgan Chase & Co. boosted their price target on shares of Nucor from $113.00 to $129.00 and gave the company a “neutral” rating in a research report on Thursday, March 24th. BMO Capital Markets reduced their price target on shares of Nucor from $168.00 to $128.00 in a research report on Tuesday, May 17th. StockNews.com initiated coverage on shares of Nucor in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Finally, The Goldman Sachs Group upped their price objective on shares of Nucor from $134.00 to $148.00 and gave the stock a “neutral” rating in a report on Friday, April 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $140.00.
Shares of NYSE NUE opened at $119.97 on Friday. The firm has a market cap of $31.92 billion, a P/E ratio of 4.29 and a beta of 1.22. The company has a quick ratio of 1.66, a current ratio of 2.88 and a debt-to-equity ratio of 0.38. The company has a 50 day moving average of $146.72 and a 200 day moving average of $126.12. Nucor Co. has a twelve month low of $87.71 and a twelve month high of $187.90.
Nucor (NYSE:NUE – Get Rating) last announced its earnings results on Thursday, April 21st. The basic materials company reported $7.67 EPS for the quarter, topping analysts’ consensus estimates of $7.39 by $0.28. Nucor had a net margin of 19.97% and a return on equity of 55.61%. The business had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.72 billion. During the same period in the previous year, the company posted $3.10 earnings per share. The firm’s revenue was up 49.5% on a year-over-year basis. As a group, equities analysts expect that Nucor Co. will post 27.04 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 11th. Stockholders of record on Thursday, March 31st were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, March 30th. This represents a $2.00 annualized dividend and a dividend yield of 1.67%. Nucor’s dividend payout ratio (DPR) is currently 7.15%.
About Nucor (Get Rating)
Nucor Corporation manufactures and sells steel and steel products. The company's 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 products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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