QRG Capital Management Inc. Sells 22,983 Shares of Nucor Co. (NYSE:NUE)

QRG Capital Management Inc. decreased its position in shares of Nucor Co. (NYSE:NUE) by 24.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,289 shares of the basic materials company’s stock after selling 22,983 shares during the quarter. QRG Capital Management Inc.’s holdings in Nucor were worth $8,320,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in Nucor during the 3rd quarter valued at $26,000. Coastline Trust Co acquired a new position in shares of Nucor during the third quarter valued at about $29,000. Crews Bank & Trust bought a new stake in shares of Nucor during the fourth quarter worth about $29,000. New Wave Wealth Advisors LLC acquired a new stake in shares of Nucor in the 4th quarter worth about $33,000. Finally, Versant Capital Management Inc lifted its position in Nucor by 60.3% in the 4th quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 114 shares in the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor Price Performance

Shares of NYSE:NUE opened at $134.73 on Friday. The company has a market capitalization of $31.64 billion, a P/E ratio of 16.02, a price-to-earnings-growth ratio of 0.96 and a beta of 1.60. The company’s 50-day moving average is $126.44 and its 200 day moving average is $139.58. 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 fifty-two week low of $112.25 and a fifty-two week high of $203.00.

Nucor (NYSE:NUE) last released 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 period in the previous year, the business earned $3.16 EPS. On average, equities research analysts forecast that Nucor Co. will post 7.64 earnings per share for the current year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Monday, March 31st. Nucor’s dividend payout ratio (DPR) is 26.16%.

Analyst Ratings Changes

Several analysts have recently commented on the company. UBS Group reissued a “neutral” rating and issued a $156.00 price objective (down from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Morgan Stanley lowered their price target on Nucor from $166.00 to $154.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Jefferies Financial Group lifted their price objective on shares of Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. lowered their target price on shares of Nucor from $152.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Finally, Citigroup cut their price target 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. Four equities 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.13.

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.