TKG Advisors LLC Acquires New Holdings in Nucor Co. (NYSE:NUE)

TKG Advisors LLC purchased a new stake in shares of Nucor Co. (NYSE:NUE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,085 shares of the basic materials company’s stock, valued at approximately $255,000.

A number of other institutional investors also recently modified their holdings of NUE. Mizuho Securities USA LLC grew its stake in Nucor by 8,530.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 1,595,179 shares of the basic materials company’s stock valued at $239,819,000 after buying an additional 1,576,695 shares during the last quarter. Pacer Advisors Inc. increased its stake 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 worth $519,648,000 after purchasing an additional 571,682 shares during the period. Ceredex Value Advisors LLC acquired a new position in shares of Nucor during the 3rd quarter worth about $74,829,000. Nordea Investment Management AB boosted its stake in Nucor by 25.6% during the 4th 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. Finally, State Street Corp boosted its stake in Nucor by 2.9% during 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 purchasing an additional 326,181 shares during the period. Institutional investors own 76.48% of the company’s stock.

Nucor Price Performance

Shares of NUE stock opened at $142.47 on Wednesday. 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 stock’s fifty day simple moving average is $124.75 and its 200 day simple moving average is $140.05. Nucor Co. has a one year low of $112.25 and a one year high of $203.00. The firm has a market cap of $33.45 billion, a price-to-earnings ratio of 16.94, a P/E/G ratio of 0.95 and a beta of 1.60.

Nucor (NYSE:NUE) last announced its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) 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 previous year, the company posted $3.16 earnings per share. On average, analysts expect that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.54%. Nucor’s payout ratio is 26.16%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NUE shares. Morgan Stanley reduced their price objective on Nucor from $166.00 to $154.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Citigroup decreased their price target on shares of Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. UBS Group reaffirmed a “neutral” rating and set a $156.00 price objective (down previously from $171.00) on shares of Nucor in a research report on Thursday, December 12th. Jefferies Financial Group increased their target price on shares of Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Finally, StockNews.com upgraded Nucor from a “sell” rating to a “hold” rating in a research note on Wednesday, February 12th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $163.13.

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.