Connor Clark & Lunn Investment Management Ltd. Takes $4.15 Million Position in Nucor Co. (NYSE:NUE)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Nucor Co. (NYSE:NUE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 35,562 shares of the basic materials company’s stock, valued at approximately $4,150,000.

A number of other institutional investors also recently modified their holdings of NUE. Pacer Advisors Inc. raised its position in shares of Nucor by 19.8% in the third quarter. Pacer Advisors Inc. now owns 3,456,484 shares of the basic materials company’s stock valued at $519,648,000 after purchasing an additional 571,682 shares during the period. Nordea Investment Management AB raised its position in shares of Nucor by 25.6% in the fourth quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company’s stock valued at $205,282,000 after purchasing an additional 358,721 shares during the period. Raymond James Financial Inc. bought a new position in shares of Nucor in the fourth quarter valued at approximately $38,714,000. State Street Corp raised its position 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 valued at $1,724,117,000 after purchasing an additional 326,181 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Nucor in the third quarter valued at approximately $46,731,000. Institutional investors own 76.48% of the company’s stock.

Nucor Stock Up 2.1 %

NUE opened at $132.26 on Monday. Nucor Co. has a fifty-two week low of $112.25 and a fifty-two week 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. The firm’s fifty day moving average price is $129.75 and its two-hundred day moving average price is $138.42. The company has a market capitalization of $30.49 billion, a P/E ratio of 15.73, a P/E/G ratio of 0.96 and a beta of 1.58.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, topping 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 quarter in the prior year, the company earned $3.16 EPS. On average, analysts anticipate that Nucor Co. will post 7.64 EPS for the current 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 paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.20 dividend on an annualized basis and a yield of 1.66%. Nucor’s dividend payout ratio is currently 26.16%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on NUE shares. StockNews.com raised shares of Nucor from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. Argus set a $155.00 price objective on shares of Nucor in a research note on Wednesday, March 5th. JPMorgan Chase & Co. raised their price objective on shares of Nucor from $150.00 to $156.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. UBS Group restated a “neutral” rating and issued a $156.00 price objective (down previously from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Finally, Morgan Stanley raised their price objective on shares of Nucor from $154.00 to $167.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $164.33.

About Nucor

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.