PGGM Investments Cuts Stock Position in Nucor Co. (NYSE:NUE)

PGGM Investments cut its position in Nucor Co. (NYSE:NUE) by 57.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,186 shares of the basic materials company’s stock after selling 33,427 shares during the quarter. PGGM Investments’ holdings in Nucor were worth $2,939,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in shares of Nucor during the 3rd quarter worth approximately $26,000. Coastline Trust Co purchased a new position in Nucor in the third quarter worth $29,000. Crews Bank & Trust acquired a new position in shares of Nucor during the fourth quarter worth $29,000. New Wave Wealth Advisors LLC purchased a new stake in shares of Nucor during the 4th quarter valued at $33,000. Finally, Versant Capital Management Inc boosted its position in shares of Nucor by 60.3% in the 4th quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 114 shares in the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Stock Down 1.0 %

NYSE:NUE opened at $129.51 on Friday. 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 company’s fifty day moving average price is $129.42 and its 200-day moving average price is $138.69. 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 $29.86 billion, a P/E ratio of 15.40, a PEG ratio of 0.96 and a beta of 1.58.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.28. Nucor had a return on equity of 9.85% and a net margin of 6.60%. During the same quarter in the prior year, the company posted $3.16 EPS. As a group, equities research analysts anticipate that Nucor Co. will post 7.64 EPS for the current 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 dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Monday, March 31st. Nucor’s dividend payout ratio is currently 26.16%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Citigroup reduced their target price on Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. The Goldman Sachs Group began coverage on shares of Nucor in a report on Monday, December 2nd. They set a “buy” rating and a $190.00 price objective on the stock. Jefferies Financial Group lifted their target price on shares of Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Morgan Stanley raised their price target on shares of Nucor from $154.00 to $167.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Finally, StockNews.com raised shares of Nucor from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $164.33.

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.