Gulf International Bank UK Ltd Reduces Position in Nucor Co. (NYSE:NUE)

Gulf International Bank UK Ltd lessened its stake in shares of Nucor Co. (NYSE:NUE) by 1.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,615 shares of the basic materials company’s stock after selling 211 shares during the period. Gulf International Bank UK Ltd’s holdings in Nucor were worth $2,289,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Widmann Financial Services Inc. grew its position in Nucor by 4.0% during the 3rd quarter. Widmann Financial Services Inc. now owns 1,800 shares of the basic materials company’s stock worth $271,000 after purchasing an additional 70 shares during the last quarter. First Trust Direct Indexing L.P. grew its position in Nucor by 1.4% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,467 shares of the basic materials company’s stock worth $822,000 after purchasing an additional 74 shares during the last quarter. Citizens Financial Group Inc. RI grew its position in Nucor by 1.7% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 4,629 shares of the basic materials company’s stock worth $696,000 after purchasing an additional 79 shares during the last quarter. TCI Wealth Advisors Inc. grew its position in Nucor by 4.4% during the 4th quarter. TCI Wealth Advisors Inc. now owns 2,157 shares of the basic materials company’s stock worth $252,000 after purchasing an additional 91 shares during the last quarter. Finally, Jessup Wealth Management Inc grew its position in Nucor by 0.9% during the 4th quarter. Jessup Wealth Management Inc now owns 10,528 shares of the basic materials company’s stock worth $1,229,000 after purchasing an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Stock Performance

NUE opened at $137.52 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 firm has a fifty day moving average price of $126.86 and a 200 day moving average price of $139.55. Nucor Co. has a 1 year low of $112.25 and a 1 year high of $203.00. The stock has a market cap of $32.29 billion, a P/E ratio of 16.35, a P/E/G ratio of 0.96 and a beta of 1.60.

Nucor (NYSE:NUE) last posted its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate 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 posted $3.16 earnings per share. Equities research analysts anticipate that Nucor Co. will post 7.64 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Monday, March 31st. Nucor’s dividend payout ratio is presently 26.16%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NUE. JPMorgan Chase & Co. dropped their target price on shares of Nucor from $152.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. The Goldman Sachs Group started coverage on shares of Nucor in a research note on Monday, December 2nd. They set a “buy” rating and a $190.00 price objective for the company. Morgan Stanley decreased their price objective on shares of Nucor from $166.00 to $154.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Citigroup decreased their price objective on shares of Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, StockNews.com upgraded shares of Nucor from a “sell” rating to a “hold” rating in a research note on Wednesday, February 12th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.13.

About Nucor

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.