1ST Source Bank Lowers Stake in Nucor Co. (NYSE:NUE)

1ST Source Bank decreased its holdings in Nucor Co. (NYSE:NUE) by 3.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 8,648 shares of the basic materials company’s stock after selling 270 shares during the quarter. 1ST Source Bank’s holdings in Nucor were worth $1,009,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NUE. Cibc World Markets Corp raised its position in Nucor by 293.4% during the fourth quarter. Cibc World Markets Corp now owns 127,347 shares of the basic materials company’s stock worth $14,863,000 after acquiring an additional 94,980 shares during the period. Creative Financial Designs Inc. ADV increased its stake in shares of Nucor by 7.9% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 5,611 shares of the basic materials company’s stock worth $655,000 after purchasing an additional 409 shares in the last quarter. SlateStone Wealth LLC raised its position in shares of Nucor by 2.2% during the 4th quarter. SlateStone Wealth LLC now owns 8,195 shares of the basic materials company’s stock worth $956,000 after purchasing an additional 175 shares during the last quarter. GWN Securities Inc. purchased a new position in Nucor in the 4th quarter valued at about $565,000. Finally, Glenview Trust co boosted its holdings in Nucor by 162.3% in the 4th quarter. Glenview Trust co now owns 3,950 shares of the basic materials company’s stock worth $461,000 after buying an additional 2,444 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NUE. UBS Group restated a “neutral” rating and issued a $156.00 target price (down previously from $171.00) on shares of Nucor in a research report on Thursday, December 12th. StockNews.com raised shares of Nucor from a “sell” rating to a “hold” rating in a research note on Wednesday, February 12th. The Goldman Sachs Group assumed coverage on shares of Nucor in a research report on Monday, December 2nd. They issued a “buy” rating and a $190.00 target price for the company. Morgan Stanley upped their price objective on shares of Nucor from $154.00 to $167.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Finally, Citigroup decreased their target price on shares of Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $164.33.

Nucor Stock Up 2.1 %

NUE stock opened at $132.26 on Monday. Nucor Co. has a one year low of $112.25 and a one year high of $203.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51. The firm has a market cap of $30.49 billion, a PE ratio of 15.73, a PEG ratio of 0.96 and a beta of 1.58. The firm’s 50 day moving average price is $129.75 and its 200-day moving average price is $138.42.

Nucor (NYSE:NUE) last posted its earnings results 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 company earned $3.16 EPS. On average, equities research analysts anticipate that Nucor Co. will post 7.64 EPS for the current 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 is Monday, March 31st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.66%. Nucor’s 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.