Xponance Inc. Reduces Position in Nucor Co. (NYSE:NUE)

Xponance Inc. decreased its stake in shares of Nucor Co. (NYSE:NUE) by 20.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 49,267 shares of the basic materials company’s stock after selling 12,288 shares during the period. Xponance Inc.’s holdings in Nucor were worth $5,750,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of NUE. Crews Bank & Trust purchased a new stake in shares of Nucor in the fourth quarter valued at $29,000. New Wave Wealth Advisors LLC purchased a new stake in shares of Nucor in the fourth quarter valued at $33,000. Versant Capital Management Inc grew its position in shares of Nucor by 60.3% in the fourth quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 114 shares during the period. Beacon Capital Management LLC grew its position in shares of 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 purchasing an additional 94 shares during the period. Finally, Bank of Jackson Hole Trust purchased a new stake in shares of Nucor in the fourth quarter valued at $53,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group assumed coverage on Nucor in a research report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective for the company. Morgan Stanley lifted their price objective on Nucor from $154.00 to $167.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. StockNews.com raised Nucor from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. boosted their price target on Nucor from $150.00 to $156.00 and gave the company an “overweight” rating in a research report on Tuesday, March 11th. Finally, Citigroup lowered their price target on Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $164.33.

Nucor Trading Up 1.0 %

Shares of NUE opened at $131.11 on Thursday. The stock’s 50-day moving average is $130.36 and its two-hundred day moving average is $138.07. The stock has a market cap of $30.22 billion, a PE ratio of 15.59, a P/E/G ratio of 0.96 and a beta of 1.58. Nucor Co. has a 12 month low of $112.25 and a 12 month high of $203.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 EPS 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 previous year, the firm earned $3.16 EPS. Equities analysts forecast that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Monday, March 31st. Nucor’s dividend payout ratio is presently 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.