Amalgamated Bank Sells 2,203 Shares of Nucor Co. (NYSE:NUE)

Amalgamated Bank lowered its stake in Nucor Co. (NYSE:NUE) by 4.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 45,331 shares of the basic materials company’s stock after selling 2,203 shares during the period. Amalgamated Bank’s holdings in Nucor were worth $5,291,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Assenagon Asset Management S.A. boosted its holdings in shares of Nucor by 16.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 24,436 shares of the basic materials company’s stock valued at $3,674,000 after buying an additional 3,491 shares during the last quarter. Arkadios Wealth Advisors lifted its stake in Nucor by 11.9% in the third quarter. Arkadios Wealth Advisors now owns 2,912 shares of the basic materials company’s stock valued at $438,000 after acquiring an additional 310 shares during the last quarter. Integrated Advisors Network LLC lifted its stake in Nucor by 15.2% in the third quarter. Integrated Advisors Network LLC now owns 2,797 shares of the basic materials company’s stock valued at $421,000 after acquiring an additional 369 shares during the last quarter. First Trust Direct Indexing L.P. grew its position in shares of Nucor by 1.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,467 shares of the basic materials company’s stock valued at $822,000 after acquiring an additional 74 shares during the period. Finally, Rosenberg Matthew Hamilton increased its stake in shares of Nucor by 5.5% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 2,425 shares of the basic materials company’s stock worth $365,000 after purchasing an additional 127 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Trading Up 0.1 %

NUE stock opened at $134.73 on Friday. Nucor Co. has a 52 week low of $112.25 and a 52 week high of $203.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51. The company’s 50-day simple moving average is $126.44 and its 200 day simple moving average is $139.58. The company has a market capitalization of $31.64 billion, a PE ratio of 16.02, a price-to-earnings-growth ratio of 0.96 and a beta of 1.60.

Nucor (NYSE:NUE) last announced its earnings results on Monday, January 27th. The basic materials company reported $1.22 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 previous year, the firm earned $3.16 EPS. As a group, sell-side analysts anticipate that Nucor Co. will post 7.64 earnings per share for the current year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.20 annualized dividend and a yield of 1.63%. Nucor’s dividend payout ratio is 26.16%.

Analysts Set New Price Targets

A number of equities analysts recently commented on NUE shares. Morgan Stanley reduced their price target on Nucor from $166.00 to $154.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Citigroup decreased their target price on Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. The Goldman Sachs Group began coverage on Nucor in a report on Monday, December 2nd. They set a “buy” rating and a $190.00 price target for the company. Jefferies Financial Group upped their price objective on shares of Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Nucor from $152.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Four investment 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $163.13.

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.