Kimelman & Baird LLC Sells 4,550 Shares of Nucor Co. (NYSE:NUE)

Kimelman & Baird LLC decreased its stake in Nucor Co. (NYSE:NUE) by 10.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,550 shares of the basic materials company’s stock after selling 4,550 shares during the period. Kimelman & Baird LLC’s holdings in Nucor were worth $4,382,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NUE. Pacer Advisors Inc. increased its holdings in shares of 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 buying an additional 571,682 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of 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 buying an additional 358,721 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Nucor in the 4th quarter worth $38,714,000. State Street Corp increased its holdings 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 buying an additional 326,181 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Nucor in the 3rd quarter worth $46,731,000. Institutional investors own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on NUE. UBS Group reaffirmed a “neutral” rating and set a $156.00 target price (down previously from $171.00) on shares of Nucor in a report on Thursday, December 12th. Jefferies Financial Group increased their target price on shares of Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Citigroup reduced their target price on shares of Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. JPMorgan Chase & Co. increased their target price on shares of Nucor from $150.00 to $156.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. Finally, StockNews.com raised shares of Nucor from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Nucor presently has an average rating of “Moderate Buy” and an average price target of $164.33.

Nucor Trading Up 2.1 %

Shares of NUE opened at $132.26 on Monday. The firm has a fifty day simple moving average of $129.75 and a two-hundred day simple moving average of $138.42. Nucor Co. has a twelve month low of $112.25 and a twelve month high of $203.00. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $30.49 billion, a P/E ratio of 15.73, a PEG ratio of 0.96 and a beta of 1.58.

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

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Monday, March 31st. Nucor’s payout ratio 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.