Nucor Co. (NYSE:NUE) Stock Position Increased by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI increased its position in Nucor Co. (NYSE:NUE) by 3.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,810 shares of the basic materials company’s stock after acquiring an additional 181 shares during the period. Citizens Financial Group Inc. RI’s holdings in Nucor were worth $561,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of NUE. Marathon Trading Investment Management LLC bought a new stake in Nucor during the fourth quarter worth approximately $356,000. Independent Advisor Alliance boosted its stake in shares of Nucor by 6.3% during the 4th quarter. Independent Advisor Alliance now owns 15,576 shares of the basic materials company’s stock worth $1,818,000 after acquiring an additional 929 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Nucor by 19.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 61,549 shares of the basic materials company’s stock worth $7,183,000 after acquiring an additional 9,810 shares in the last quarter. Moran Wealth Management LLC grew its holdings in shares of Nucor by 3.8% in the 4th quarter. Moran Wealth Management LLC now owns 4,766 shares of the basic materials company’s stock worth $556,000 after acquiring an additional 176 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new stake in shares of Nucor during the fourth quarter worth $25,906,000. Institutional investors own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NUE. Jefferies Financial Group increased their price target on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Morgan Stanley raised their target price on shares of Nucor from $154.00 to $167.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. UBS Group restated a “neutral” rating and set a $156.00 price target (down previously from $171.00) on shares of Nucor in a report on Thursday, December 12th. The Goldman Sachs Group initiated coverage on shares of Nucor in a research note on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Nucor from $150.00 to $156.00 and gave the stock an “overweight” rating in a research report on Tuesday. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.33.

Nucor Trading Down 1.0 %

NYSE NUE opened at $129.51 on Friday. The company has a market capitalization of $29.86 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58. Nucor Co. has a 1-year low of $112.25 and a 1-year high of $203.00. 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 firm’s fifty day simple moving average is $129.42 and its 200-day simple moving average is $138.69.

Nucor (NYSE:NUE) last posted its quarterly 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 firm posted $3.16 earnings per share. As a group, sell-side analysts anticipate that Nucor Co. will post 7.64 earnings per share for the current fiscal 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 given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Monday, March 31st. Nucor’s dividend payout ratio is 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.