Marathon Trading Investment Management LLC Buys Shares of 3,051 Nucor Co. (NYSE:NUE)

Marathon Trading Investment Management LLC acquired a new position in Nucor Co. (NYSE:NUE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,051 shares of the basic materials company’s stock, valued at approximately $356,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in shares of Nucor in the third quarter worth about $26,000. Coastline Trust Co purchased a new position in Nucor in the 3rd quarter valued at approximately $29,000. Crews Bank & Trust purchased a new position in Nucor in the 4th quarter valued at approximately $29,000. New Wave Wealth Advisors LLC bought a new stake in Nucor during the 4th quarter valued at $33,000. Finally, Versant Capital Management Inc lifted its position in shares of Nucor by 60.3% during the fourth quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 114 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors.

Nucor Price Performance

NUE stock opened at $126.63 on Tuesday. The firm has a 50 day simple moving average of $128.56 and a two-hundred day simple moving average of $138.93. The stock has a market cap of $29.19 billion, a PE ratio of 15.06, a P/E/G ratio of 0.96 and a beta of 1.58. Nucor Co. has a one year low of $112.25 and a one year high of $203.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48.

Nucor (NYSE:NUE) last released its earnings results on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, beating 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 period in the previous year, the firm earned $3.16 EPS. On average, analysts predict 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 given 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 1.74%. Nucor’s payout ratio is 26.16%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NUE shares. StockNews.com upgraded Nucor from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. Argus set a $155.00 target price on Nucor in a report on Wednesday, March 5th. The Goldman Sachs Group initiated coverage on shares of Nucor in a report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Nucor from $152.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Finally, UBS Group reiterated a “neutral” rating and issued a $156.00 target price (down from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.67.

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.