Vectors Research Management LLC Sells 271 Shares of Nucor Co. (NYSE:NUE)

by · The Markets Daily

Vectors Research Management LLC lessened its position in Nucor Co. (NYSE:NUE – Free Report) by 13.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,745 shares of the basic materials company’s stock after selling 271 shares during the quarter. Vectors Research Management LLC’s holdings in Nucor were worth $204,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Norges Bank bought a new position in Nucor in the 4th quarter valued at approximately $398,077,000. First Trust Advisors LP grew its stake in shares of Nucor by 24.6% in the fourth quarter. First Trust Advisors LP now owns 2,404,477 shares of the basic materials company’s stock worth $280,627,000 after purchasing an additional 474,274 shares during the last quarter. Invesco Ltd. increased its holdings in Nucor by 18.7% in the fourth quarter. Invesco Ltd. now owns 2,435,265 shares of the basic materials company’s stock valued at $284,220,000 after purchasing an additional 384,205 shares during the period. Nordea Investment Management AB raised its position 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 worth $205,282,000 after purchasing an additional 358,721 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Nucor in the 4th quarter valued at about $38,714,000. 76.48% of the stock is currently owned by institutional investors.

Nucor Stock Performance

NYSE NUE opened at $110.62 on Monday. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. The company has a fifty day simple moving average of $125.13 and a 200 day simple moving average of $133.02. Nucor Co. has a 12-month low of $97.59 and a 12-month high of $193.61. The company has a market cap of $25.50 billion, a P/E ratio of 13.15, a PEG ratio of 0.96 and a beta of 1.67.

Nucor (NYSE:NUE – Get Free Report) last posted its 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 period last year, the firm posted $3.16 EPS. Sell-side analysts predict that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently declared 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. This represents a $2.20 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Monday, March 31st. Nucor’s payout ratio is currently 26.16%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NUE. The Goldman Sachs Group cut their price objective on Nucor from $175.00 to $169.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. JPMorgan Chase & Co. lowered their target price on shares of Nucor from $156.00 to $140.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. StockNews.com upgraded Nucor from a “sell” rating to a “hold” rating in a report on Friday. UBS Group raised Nucor from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $156.00 to $160.00 in a research note on Monday, March 24th. Finally, Argus set a $155.00 target price on Nucor in a report on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Nucor currently has an average rating of “Moderate Buy” and a consensus target price of $160.33.

Read Our Latest Stock Analysis on Nucor

About Nucor

(Free Report)

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.

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