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

Amalgamated Bank decreased its holdings in Nucor Co. (NYSE:NUE) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,331 shares of the basic materials company’s stock after selling 2,203 shares during the quarter. Amalgamated Bank’s holdings in Nucor were worth $5,291,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. State Street Corp lifted its position in Nucor by 2.9% during 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 buying an additional 326,181 shares in the last quarter. National Pension Service lifted its position in shares of Nucor by 3.2% during the third quarter. National Pension Service now owns 652,502 shares of the basic materials company’s stock worth $98,097,000 after purchasing an additional 20,258 shares in the last quarter. Everence Capital Management Inc. acquired a new position in Nucor during the 4th quarter worth $565,000. BIP Wealth LLC bought a new position in Nucor in the 3rd quarter valued at $681,000. Finally, Geode Capital Management LLC boosted its position in Nucor by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 5,861,945 shares of the basic materials company’s stock valued at $883,732,000 after buying an additional 74,569 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Stock Up 0.1 %

Nucor stock opened at $134.73 on Friday. The firm has a market capitalization of $31.64 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 0.96 and a beta of 1.60. 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 debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48. Nucor Co. has a fifty-two week low of $112.25 and a fifty-two week high of $203.00.

Nucor (NYSE:NUE) last announced 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 in the previous year, the business earned $3.16 EPS. As a group, sell-side analysts anticipate that Nucor Co. will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The firm also recently declared 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 dividend yield of 1.63%. Nucor’s dividend payout ratio (DPR) is currently 26.16%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NUE. StockNews.com raised Nucor from a “sell” rating to a “hold” rating in a research note on Wednesday, February 12th. Morgan Stanley cut their target price on shares of Nucor from $166.00 to $154.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. UBS Group reiterated a “neutral” rating and set a $156.00 price target (down previously from $171.00) on shares of Nucor in a research report on Thursday, December 12th. Citigroup cut their price objective on shares of Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Finally, The Goldman Sachs Group assumed coverage on shares of Nucor in a research note on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.