Nucor Co. (NYSE:NUE) Shares Sold by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC reduced its holdings in shares of Nucor Co. (NYSE:NUE) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 273,264 shares of the basic materials company’s stock after selling 837 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Nucor were worth $31,893,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in NUE. Horrell Capital Management Inc. boosted its holdings 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 purchasing an additional 76 shares in the last quarter. TCI Wealth Advisors Inc. grew its position in shares of Nucor by 4.4% in the 4th quarter. TCI Wealth Advisors Inc. now owns 2,157 shares of the basic materials company’s stock valued at $252,000 after buying an additional 91 shares during the last quarter. Jessup Wealth Management Inc raised its stake 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 acquiring an additional 93 shares in the last quarter. Redwood Investment Management LLC lifted its position in Nucor by 1.0% in the third quarter. Redwood Investment Management LLC now owns 9,092 shares of the basic materials company’s stock valued at $1,365,000 after acquiring an additional 94 shares during the last quarter. Finally, Beacon Capital Management LLC boosted its stake in Nucor by 29.1% in the fourth quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company’s stock valued at $49,000 after acquiring an additional 94 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Stock Down 6.1 %

Shares of NYSE:NUE opened at $103.14 on Friday. The company has a market cap of $23.78 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 0.96 and a beta of 1.67. Nucor Co. has a fifty-two week low of $99.77 and a fifty-two week high of $203.00. The firm’s 50-day simple moving average is $130.19 and its 200-day simple moving average is $136.36. 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 (NYSE:NUE) last released its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate 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 previous year, the business posted $3.16 EPS. As a group, equities research analysts predict 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. Shareholders of record on Monday, March 31st will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Monday, March 31st. Nucor’s dividend payout ratio (DPR) is currently 26.16%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on NUE shares. UBS Group upgraded Nucor from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $156.00 to $160.00 in a research report on Monday, March 24th. Morgan Stanley set a $164.00 price objective on Nucor in a research note on Monday, March 24th. Jefferies Financial Group raised their target price on shares of Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. increased their price target on shares of Nucor from $150.00 to $156.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Finally, StockNews.com upgraded shares of Nucor from a “sell” rating to a “hold” rating in a research note on Wednesday, February 12th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $164.44.

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.