NEOS Investment Management LLC Raises Stock Holdings in Nucor Co. (NYSE:NUE)

NEOS Investment Management LLC boosted its stake in Nucor Co. (NYSE:NUE) by 27.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,402 shares of the basic materials company’s stock after purchasing an additional 2,482 shares during the quarter. NEOS Investment Management LLC’s holdings in Nucor were worth $1,331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Widmann Financial Services Inc. raised its position in shares of Nucor by 4.0% during the 3rd quarter. Widmann Financial Services Inc. now owns 1,800 shares of the basic materials company’s stock valued at $271,000 after buying an additional 70 shares in the last quarter. Horrell Capital Management Inc. increased its stake in Nucor by 0.3% in the fourth quarter. Horrell Capital Management Inc. now owns 26,657 shares of the basic materials company’s stock valued at $3,111,000 after acquiring an additional 76 shares during the last quarter. TCI Wealth Advisors Inc. raised its position in Nucor by 4.4% during the fourth quarter. TCI Wealth Advisors Inc. now owns 2,157 shares of the basic materials company’s stock valued at $252,000 after purchasing an additional 91 shares in the last quarter. Jessup Wealth Management Inc lifted its stake in Nucor by 0.9% during the fourth 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. Finally, Redwood Investment Management LLC boosted its holdings in shares of Nucor by 1.0% in the 3rd quarter. Redwood Investment Management LLC now owns 9,092 shares of the basic materials company’s stock worth $1,365,000 after purchasing an additional 94 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NUE. Citigroup dropped their target price on Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. StockNews.com raised shares of Nucor from a “sell” rating to a “hold” rating in a research note on Wednesday, February 12th. Argus set a $155.00 target price on shares of Nucor in a research report on Wednesday, March 5th. Jefferies Financial Group upped their price target on shares of Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Finally, Morgan Stanley set a $164.00 price objective on Nucor in a report on Monday, March 24th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Nucor presently has a consensus rating of “Moderate Buy” and an average price target of $164.44.

Nucor Price Performance

Shares of NYSE NUE opened at $121.90 on Friday. Nucor Co. has a 1 year low of $112.25 and a 1 year high of $203.00. The stock has a market capitalization of $28.10 billion, a P/E ratio of 14.50, a P/E/G ratio of 0.96 and a beta of 1.58. The company’s 50-day moving average is $130.98 and its 200 day moving average is $137.27. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48.

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

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Monday, March 31st. Nucor’s dividend payout ratio is presently 26.16%.

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.