Checchi Capital Advisers LLC Reduces Holdings in Nucor Co. (NYSE:NUE)

Checchi Capital Advisers LLC decreased its position in shares of Nucor Co. (NYSE:NUE) by 10.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,298 shares of the basic materials company’s stock after selling 267 shares during the period. Checchi Capital Advisers LLC’s holdings in Nucor were worth $268,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp grew its holdings 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 valued at $1,724,117,000 after purchasing an additional 326,181 shares during the last quarter. Geode Capital Management LLC lifted its stake in Nucor by 1.3% in the third quarter. Geode Capital Management LLC now owns 5,861,945 shares of the basic materials company’s stock worth $883,732,000 after purchasing an additional 74,569 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Nucor by 19.8% during the third quarter. Pacer Advisors Inc. now owns 3,456,484 shares of the basic materials company’s stock valued at $519,648,000 after buying an additional 571,682 shares during the period. Nordea Investment Management AB grew its stake in shares of Nucor by 25.6% during the fourth quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company’s stock valued at $205,282,000 after buying an additional 358,721 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Nucor by 6.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,679,176 shares of the basic materials company’s stock worth $195,977,000 after buying an additional 104,238 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analyst Ratings Changes

NUE has been the subject of a number of recent analyst reports. Morgan Stanley dropped their price objective on Nucor from $166.00 to $154.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Jefferies Financial Group boosted their target price on shares of Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. StockNews.com raised shares of Nucor from a “sell” rating to a “hold” rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. lowered their price objective 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. Finally, UBS Group reaffirmed a “neutral” rating and set a $156.00 target price (down 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 assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Nucor has a consensus rating of “Moderate Buy” and an average target price of $163.13.

Nucor Trading Up 0.1 %

NYSE NUE opened at $134.73 on Friday. Nucor Co. has a one year low of $112.25 and a one year 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 has a market capitalization of $31.64 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 0.96 and a beta of 1.60. The company’s 50-day simple moving average is $126.44 and its two-hundred day simple moving average is $139.58.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) 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 quarter last year, the business earned $3.16 EPS. Equities analysts forecast that Nucor Co. will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

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

Nucor Company 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.