Sciencast Management LP Acquires New Stake in Nucor Co. (NYSE:NUE)

Sciencast Management LP purchased a new position in shares of Nucor Co. (NYSE:NUE) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,922 shares of the basic materials company’s stock, valued at approximately $1,742,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of NUE. Crews Bank & Trust purchased a new stake in Nucor during the 4th quarter worth approximately $29,000. New Wave Wealth Advisors LLC purchased a new stake in shares of Nucor during the fourth quarter worth $33,000. Versant Capital Management Inc increased its position in shares of Nucor by 60.3% during the fourth quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 114 shares during the period. Beacon Capital Management LLC increased its holdings in Nucor by 29.1% during the 4th quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 94 shares during the period. Finally, Millstone Evans Group LLC acquired a new stake in Nucor in the 4th quarter valued at about $50,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. 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 report on Tuesday, March 11th. StockNews.com raised shares of Nucor from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. Argus set a $155.00 target price on Nucor in a report on Wednesday, March 5th. Morgan Stanley lifted their price target on Nucor from $154.00 to $167.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Finally, Citigroup dropped their price objective on 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 given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $164.33.

Nucor Stock Performance

Shares of NUE opened at $122.02 on Friday. 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 has a market cap of $28.13 billion, a PE ratio of 14.51, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58. The company’s 50 day simple moving average is $130.65 and its 200-day simple moving average is $137.80. 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 data 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 quarter in the prior year, the company posted $3.16 EPS. As a group, equities analysts predict that Nucor Co. will post 7.64 EPS for the current year.

Nucor Dividend Announcement

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 is Monday, March 31st. Nucor’s payout ratio is 26.16%.

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.