Elo Mutual Pension Insurance Co Raises Stock Holdings in Nucor Co. (NYSE:NUE)

Elo Mutual Pension Insurance Co grew its holdings in Nucor Co. (NYSE:NUE) by 14.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 24,260 shares of the basic materials company’s stock after acquiring an additional 3,095 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Nucor were worth $2,831,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NUE. Nordea Investment Management AB increased its holdings in shares of Nucor by 25.6% in the fourth quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company’s stock worth $205,282,000 after purchasing an additional 358,721 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Nucor during the fourth quarter worth approximately $38,714,000. State Street Corp boosted its holdings in shares of Nucor by 2.9% in the 3rd quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock worth $1,724,117,000 after purchasing an additional 326,181 shares during the period. OFI Invest Asset Management purchased a new position in Nucor during the fourth quarter worth $25,906,000. Finally, National Bank of Canada FI boosted its stake in shares of Nucor by 315.8% during the 3rd quarter. National Bank of Canada FI now owns 296,851 shares of the basic materials company’s stock worth $44,629,000 after purchasing an additional 225,450 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Trading Down 4.4 %

Shares of Nucor stock opened at $121.90 on Friday. Nucor Co. has a 12-month low of $112.25 and a 12-month high of $203.00. The stock has a market cap of $28.10 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 0.96 and a beta of 1.58. 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 company has a fifty day simple moving average of $130.98 and a 200-day simple moving average of $137.29.

Nucor (NYSE:NUE) last issued its quarterly earnings data 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 return on equity of 9.85% and a net margin of 6.60%. During the same period in the previous year, the company earned $3.16 earnings per share. On average, equities analysts forecast that Nucor Co. will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be paid a $0.55 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.20 annualized dividend and a dividend yield of 1.80%. Nucor’s dividend payout ratio (DPR) is currently 26.16%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. StockNews.com raised Nucor from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. Citigroup reduced their target price on Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Argus set a $155.00 price target on shares of Nucor in a report on Wednesday, March 5th. JPMorgan Chase & Co. raised their price target on shares of Nucor from $150.00 to $156.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 11th. Finally, Jefferies Financial Group boosted their price objective on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.44.

Nucor 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.