Advisors Asset Management Inc. Sells 773 Shares of Nucor Co. (NYSE:NUE)

Advisors Asset Management Inc. cut its stake in shares of Nucor Co. (NYSE:NUE) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,977 shares of the basic materials company’s stock after selling 773 shares during the period. Advisors Asset Management Inc.’s holdings in Nucor were worth $2,448,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Crews Bank & Trust bought a new stake in shares of Nucor during the fourth quarter valued at about $29,000. New Wave Wealth Advisors LLC purchased a new stake in Nucor in the fourth quarter valued at approximately $33,000. Versant Capital Management Inc raised its stake in 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 in the last quarter. Beacon Capital Management LLC raised its stake in 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 in the last quarter. Finally, Bank of Jackson Hole Trust purchased a new stake in Nucor in the fourth quarter valued at approximately $53,000. 76.48% of the stock is currently owned by institutional investors.

Nucor Stock Down 5.8 %

Shares of Nucor stock opened at $122.02 on Friday. 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. The stock has a market capitalization of $28.13 billion, a price-to-earnings ratio of 14.51, a P/E/G ratio of 0.96 and a beta of 1.58. The company’s 50 day moving average price is $130.65 and its 200-day moving average price is $137.80.

Nucor (NYSE:NUE) last issued its 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 in the previous year, the business earned $3.16 EPS. Equities research analysts forecast that Nucor Co. will post 7.64 EPS for the current year.

Nucor Announces Dividend

The company 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 $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend is Monday, March 31st. Nucor’s dividend payout ratio is 26.16%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Morgan Stanley raised their target price on shares of Nucor from $154.00 to $167.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. UBS Group reaffirmed a “neutral” rating and issued a $156.00 target price (down from $171.00) on shares of Nucor in a research note on Thursday, December 12th. JPMorgan Chase & Co. raised their target price on shares of Nucor from $150.00 to $156.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. Argus set a $155.00 price target on shares of Nucor in a research report on Wednesday, March 5th. Finally, The Goldman Sachs Group assumed coverage on shares of Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 price target on the stock. 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $164.33.

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.