Global Retirement Partners LLC Sells 195 Shares of Nucor Co. (NYSE:NUE)

Global Retirement Partners LLC decreased its stake in shares of Nucor Co. (NYSE:NUE) by 7.4% in the 4th quarter, Holdings Channel reports. The fund owned 2,426 shares of the basic materials company’s stock after selling 195 shares during the quarter. Global Retirement Partners LLC’s holdings in Nucor were worth $283,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in NUE. Ashton Thomas Securities LLC bought a new position in Nucor during the 3rd quarter worth about $26,000. Coastline Trust Co acquired a new position in shares of Nucor during the third quarter worth about $29,000. Salomon & Ludwin LLC grew its holdings in shares of Nucor by 45.6% during the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after buying an additional 72 shares in the last quarter. Crews Bank & Trust acquired a new stake in Nucor in the 4th quarter valued at approximately $29,000. Finally, New Wave Wealth Advisors LLC bought a new stake in Nucor in the 4th quarter valued at approximately $33,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Trading Up 0.7 %

Nucor stock opened at $136.18 on Tuesday. The stock has a 50-day simple moving average of $125.43 and a 200 day simple moving average of $139.71. The stock has a market capitalization of $31.98 billion, a P/E ratio of 16.19, a PEG ratio of 0.96 and a beta of 1.60. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51. Nucor Co. has a 52 week low of $112.25 and a 52 week high of $203.00.

Nucor (NYSE:NUE) last issued its earnings results on Monday, January 27th. The basic materials company reported $1.22 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 prior year, the company posted $3.16 earnings per share. Analysts expect that Nucor Co. will post 7.64 earnings per share for the current year.

Nucor Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Monday, March 31st. Nucor’s payout ratio is presently 26.16%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NUE. Citigroup decreased their price target 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. Jefferies Financial Group raised their target price 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. StockNews.com raised shares of Nucor from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. Morgan Stanley reduced 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. Finally, UBS Group reaffirmed a “neutral” rating and issued a $156.00 target price (down previously from $171.00) on shares of Nucor in a research report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $163.13.

Nucor 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.