Amundi Decreases Stock Holdings in Nucor Co. (NYSE:NUE)

Amundi trimmed its holdings in Nucor Co. (NYSE:NUE) by 2.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 346,733 shares of the basic materials company’s stock after selling 10,139 shares during the quarter. Amundi owned about 0.15% of Nucor worth $40,977,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of NUE. Mizuho Securities USA LLC lifted its stake in Nucor by 8,530.1% in the 3rd 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 in the last quarter. Pacer Advisors Inc. lifted 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 worth $519,648,000 after purchasing an additional 571,682 shares in the last quarter. Nordea Investment Management AB lifted its stake in Nucor by 25.6% in 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 in the last quarter. Raymond James Financial Inc. purchased a new position in Nucor in the 4th quarter worth approximately $38,714,000. Finally, State Street Corp lifted its stake in 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 purchasing an additional 326,181 shares in the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Argus set a $155.00 target price on shares of Nucor in a research note on Wednesday, March 5th. Morgan Stanley lifted their price target on shares of Nucor from $154.00 to $167.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. JPMorgan Chase & Co. lifted their price target on shares of Nucor from $150.00 to $156.00 and gave the company an “overweight” rating in a research report on Tuesday. The Goldman Sachs Group initiated coverage on shares of Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 price target on the stock. Finally, StockNews.com raised shares of Nucor from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. Four equities 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $164.33.

Nucor Stock Up 1.0 %

Shares of NYSE NUE opened at $131.21 on Thursday. The firm has a market cap of $30.25 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 0.96 and a beta of 1.58. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. Nucor Co. has a 52-week low of $112.25 and a 52-week high of $203.00. The business’s 50 day moving average is $129.12 and its two-hundred day moving average is $138.76.

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, beating analysts’ consensus estimates 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 period last year, the business earned $3.16 EPS. Research analysts predict that Nucor Co. will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be paid a $0.55 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.20 annualized dividend and a dividend yield of 1.68%. Nucor’s dividend payout ratio (DPR) 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.