Bryn Mawr Capital Management LLC Trims Stock Position in Nucor Co. (NYSE:NUE)

Bryn Mawr Capital Management LLC decreased its position in Nucor Co. (NYSE:NUE) by 38.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 5,566 shares of the basic materials company’s stock after selling 3,476 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Nucor were worth $650,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TKG Advisors LLC purchased a new position in Nucor in the fourth quarter valued at $255,000. Bank of Jackson Hole Trust purchased a new position in Nucor in the fourth quarter valued at $53,000. Kentucky Retirement Systems Insurance Trust Fund increased its holdings in Nucor by 60.4% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 11,269 shares of the basic materials company’s stock valued at $1,315,000 after buying an additional 4,242 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Nucor by 2.3% in the fourth quarter. CIBC Asset Management Inc now owns 35,988 shares of the basic materials company’s stock valued at $4,200,000 after buying an additional 809 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Nucor by 10.0% in the fourth quarter. Principal Financial Group Inc. now owns 314,037 shares of the basic materials company’s stock valued at $36,651,000 after buying an additional 28,622 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Stock Performance

NUE opened at $135.19 on Friday. The firm has a market capitalization of $31.74 billion, a PE ratio of 16.07, a PEG ratio of 0.96 and a beta of 1.60. Nucor Co. has a twelve month low of $112.25 and a twelve month high of $203.00. The firm’s 50-day moving average price is $125.00 and its 200 day moving average price is $139.99. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates 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 last year, the firm earned $3.16 EPS. As a group, sell-side analysts expect that Nucor Co. will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Nucor in a report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective for the company. Citigroup cut their target price on shares of Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. StockNews.com raised shares of Nucor from a “sell” rating to a “hold” rating in a research note on Wednesday, February 12th. Jefferies Financial Group boosted their target price on shares of Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Finally, UBS Group reissued a “neutral” rating and set a $156.00 target price (down previously from $171.00) on shares of Nucor in a research note on Thursday, December 12th. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $163.13.

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.