Twin Capital Management Inc. Sells 172 Shares of Nucor Co. (NYSE:NUE)

Twin Capital Management Inc. trimmed its stake in shares of Nucor Co. (NYSE:NUE) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,317 shares of the basic materials company’s stock after selling 172 shares during the quarter. Twin Capital Management Inc.’s holdings in Nucor were worth $737,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NUE. Geode Capital Management LLC increased its position in shares of Nucor by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 5,967,254 shares of the basic materials company’s stock valued at $701,255,000 after buying an additional 105,309 shares during the period. Norges Bank purchased a new position in Nucor during the fourth quarter valued at approximately $398,077,000. Invesco Ltd. increased its holdings in Nucor by 18.7% during the 4th quarter. Invesco Ltd. now owns 2,435,265 shares of the basic materials company’s stock worth $284,220,000 after acquiring an additional 384,205 shares during the period. Nordea Investment Management AB lifted its stake 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 purchasing an additional 358,721 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings 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 valued at $196,127,000 after purchasing an additional 68,252 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NUE shares. Morgan Stanley set a $164.00 price objective on Nucor in a research report on Monday, March 24th. StockNews.com cut Nucor from a “hold” rating to a “sell” rating in a report on Monday. Argus set a $155.00 price objective on Nucor in a report on Wednesday, March 5th. UBS Group raised shares of Nucor from a “neutral” rating to a “buy” rating and raised their target price for the company from $156.00 to $160.00 in a research note on Monday, March 24th. Finally, Citigroup cut their price target on shares of Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Nucor has an average rating of “Moderate Buy” and an average price target of $162.11.

Nucor Price Performance

NUE stock opened at $104.88 on Tuesday. The firm has a market cap of $24.18 billion, a P/E ratio of 12.47, a P/E/G ratio of 0.96 and a beta of 1.67. The firm’s fifty day moving average is $129.85 and its 200 day moving average is $136.00. Nucor Co. has a 52 week low of $97.59 and a 52 week high of $203.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, beating the consensus estimate 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 prior year, the company earned $3.16 earnings per share. Research analysts predict that Nucor Co. will post 7.64 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors 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 yield of 2.10%. The ex-dividend date of this dividend is Monday, March 31st. Nucor’s dividend payout ratio (DPR) is presently 26.16%.

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.