Nucor Co. (NYSE:NUE) Shares Sold by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. reduced its stake in shares of Nucor Co. (NYSE:NUE) by 15.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 9,457 shares of the basic materials company’s stock after selling 1,742 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Nucor were worth $1,104,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. State Street Corp grew its holdings in Nucor by 2.9% during the third quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock worth $1,724,117,000 after acquiring an additional 326,181 shares during the period. Everence Capital Management Inc. acquired a new stake in shares of Nucor during the 4th quarter worth approximately $565,000. BIP Wealth LLC acquired a new stake in shares of Nucor during the 3rd quarter worth approximately $681,000. Geode Capital Management LLC increased its holdings in shares of Nucor by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,861,945 shares of the basic materials company’s stock valued at $883,732,000 after purchasing an additional 74,569 shares in the last quarter. Finally, InvesTrust acquired a new position in shares of Nucor in the 4th quarter valued at $4,388,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NUE shares. Morgan Stanley lifted their price objective on shares of Nucor from $154.00 to $167.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Citigroup reduced their price target on Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, December 19th. JPMorgan Chase & Co. boosted their price objective on Nucor from $150.00 to $156.00 and gave the company an “overweight” rating in a research report on Tuesday, March 11th. UBS Group reaffirmed a “neutral” rating and set a $156.00 target price (down from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Finally, StockNews.com raised shares of 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 given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $164.33.

Nucor Stock Performance

Shares of NYSE:NUE opened at $129.49 on Tuesday. 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 Co. has a 1 year low of $112.25 and a 1 year high of $203.00. The firm has a market capitalization of $29.85 billion, a PE ratio of 15.40, a P/E/G ratio of 0.96 and a beta of 1.58. The business’s 50 day moving average price is $129.93 and its 200-day moving average price is $138.27.

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 the consensus estimate 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 firm posted $3.16 EPS. As a group, equities research 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 issued a $0.55 dividend. 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 1.70%. Nucor’s payout ratio is 26.16%.

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.