Y Intercept Hong Kong Ltd Takes $2.56 Million Position in Nucor Co. (NYSE:NUE)

Y Intercept Hong Kong Ltd purchased a new position in shares of Nucor Co. (NYSE:NUE) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,949 shares of the basic materials company’s stock, valued at approximately $2,562,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Widmann Financial Services Inc. increased its position in Nucor by 4.0% during the third quarter. Widmann Financial Services Inc. now owns 1,800 shares of the basic materials company’s stock worth $271,000 after purchasing an additional 70 shares during the last quarter. Salomon & Ludwin LLC increased its position in Nucor by 45.6% during the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 72 shares during the last quarter. First Trust Direct Indexing L.P. increased its position in Nucor by 1.4% during the third quarter. First Trust Direct Indexing L.P. now owns 5,467 shares of the basic materials company’s stock worth $822,000 after purchasing an additional 74 shares during the last quarter. Citizens Financial Group Inc. RI increased its position in Nucor by 1.7% during the third quarter. Citizens Financial Group Inc. RI now owns 4,629 shares of the basic materials company’s stock worth $696,000 after purchasing an additional 79 shares during the last quarter. Finally, TCI Wealth Advisors Inc. increased its position in Nucor by 4.4% during the fourth quarter. TCI Wealth Advisors Inc. now owns 2,157 shares of the basic materials company’s stock worth $252,000 after purchasing an additional 91 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Price Performance

Shares of NUE stock opened at $136.18 on Tuesday. The company has a market capitalization of $31.98 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 0.96 and a beta of 1.60. The firm has a fifty day simple moving average of $125.43 and a 200-day simple moving average of $139.71. 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 Co. has a twelve month low of $112.25 and a twelve month high of $203.00.

Nucor (NYSE:NUE) last announced its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, beating 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 prior year, the firm earned $3.16 earnings per share. Equities research analysts anticipate that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

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 issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.62%. The ex-dividend date is Monday, March 31st. Nucor’s dividend payout ratio is currently 26.16%.

Wall Street Analyst Weigh In

NUE has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Nucor from $152.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Citigroup dropped their price objective on shares of Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. The Goldman Sachs Group initiated coverage on shares of Nucor in a research report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective for the company. Jefferies Financial Group increased their price objective on shares of Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Finally, UBS Group reissued a “neutral” rating and issued a $156.00 price objective (down previously from $171.00) on shares of Nucor in a research report on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Nucor currently has a consensus rating of “Moderate Buy” and a consensus 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.