Fjarde AP Fonden Fourth Swedish National Pension Fund Decreases Stock Position in Nucor Co. (NYSE:NUE)

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its stake in shares of Nucor Co. (NYSE:NUE) by 12.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,086 shares of the basic materials company’s stock after selling 5,213 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Nucor were worth $4,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Nucor Price Performance

NUE opened at $136.01 on Wednesday. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. The company has a market cap of $31.94 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 0.96 and a beta of 1.60. The stock has a fifty day simple moving average of $125.74 and a two-hundred day simple moving average of $139.65. Nucor Co. has a 12-month low of $112.25 and a 12-month high of $203.00.

Nucor (NYSE:NUE) last issued its quarterly 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 net margin of 6.60% and a return on equity of 9.85%. During the same period last year, the business posted $3.16 earnings per share. Research analysts predict that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

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 issued a dividend of $0.55 per share. The ex-dividend date is Monday, March 31st. This represents a $2.20 annualized dividend and a dividend yield of 1.62%. Nucor’s payout ratio is 26.16%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Morgan Stanley dropped their target price on shares of Nucor from $166.00 to $154.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. UBS Group reiterated a “neutral” rating and issued a $156.00 price objective (down previously from $171.00) on shares of Nucor in a report on Thursday, December 12th. Jefferies Financial Group boosted their target price on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. dropped their price target on Nucor from $152.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Finally, The Goldman Sachs Group started coverage on shares of Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $163.13.

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.