Nucor Co. (NYSE:NUE) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its stake in shares of Nucor Co. (NYSE:NUE) by 4.2% in the 4th quarter, Holdings Channel reports. The fund owned 1,680,468 shares of the basic materials company’s stock after acquiring an additional 68,252 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Nucor were worth $196,127,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in NUE. Mizuho Securities USA LLC raised its stake in shares of Nucor by 8,530.1% during the third quarter. Mizuho Securities USA LLC now owns 1,595,179 shares of the basic materials company’s stock worth $239,819,000 after purchasing an additional 1,576,695 shares during the last quarter. Pacer Advisors Inc. increased its stake in Nucor by 19.8% in the 3rd quarter. Pacer Advisors Inc. now owns 3,456,484 shares of the basic materials company’s stock valued at $519,648,000 after buying an additional 571,682 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 buying an additional 358,721 shares during the last quarter. State Street Corp lifted its stake in shares of Nucor by 2.9% in the 3rd 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. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Nucor in the third quarter valued at about $46,731,000. 76.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of Nucor in a report on Monday, December 2nd. They set a “buy” rating and a $190.00 price target for the company. Jefferies Financial Group boosted their target price on Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Citigroup decreased their price target on Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. UBS Group reiterated a “neutral” rating and issued a $156.00 price objective (down previously from $171.00) on shares of Nucor in a research report on Thursday, December 12th. Finally, Morgan Stanley reduced their target price on Nucor from $166.00 to $154.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $163.13.

Nucor Stock Down 0.4 %

Nucor stock opened at $132.00 on Friday. Nucor Co. has a fifty-two week low of $112.25 and a fifty-two week high of $203.00. The firm has a market capitalization of $31.00 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 0.96 and a beta of 1.60. The stock’s fifty day moving average is $128.01 and its two-hundred day moving average is $139.22. 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 issued its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, beating 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 in the previous year, the business posted $3.16 EPS. Analysts predict that Nucor Co. will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.20 annualized dividend and a dividend yield of 1.67%. Nucor’s dividend payout ratio is currently 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.