OFI Invest Asset Management Acquires New Holdings in Nucor Co. (NYSE:NUE)

OFI Invest Asset Management bought a new position in Nucor Co. (NYSE:NUE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 229,850 shares of the basic materials company’s stock, valued at approximately $25,906,000. OFI Invest Asset Management owned approximately 0.10% of Nucor as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of NUE. Ashton Thomas Securities LLC bought a new position in shares of Nucor during the 3rd quarter worth approximately $26,000. Coastline Trust Co purchased a new position in Nucor in the third quarter worth $29,000. Crews Bank & Trust acquired a new position in shares of Nucor during the fourth quarter worth $29,000. New Wave Wealth Advisors LLC purchased a new stake in shares of Nucor during the 4th quarter valued at $33,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Nucor by 60.3% during the 4th quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 114 shares during the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Stock Performance

NUE opened at $133.79 on Friday. 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 12-month low of $112.25 and a 12-month high of $203.00. The firm has a 50 day moving average of $128.34 and a two-hundred day moving average of $139.12. The firm has a market capitalization of $30.84 billion, a PE ratio of 15.91, a P/E/G ratio of 0.96 and a beta of 1.58.

Nucor (NYSE:NUE) last issued its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (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 earnings per share. On average, analysts anticipate that Nucor Co. will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be issued a $0.55 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.20 annualized dividend and a dividend yield of 1.64%. Nucor’s dividend payout ratio (DPR) is presently 26.16%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NUE. JPMorgan Chase & Co. dropped their target price on Nucor from $152.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. StockNews.com upgraded Nucor from a “sell” rating to a “hold” rating in a research note on Wednesday, February 12th. The Goldman Sachs Group assumed 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. 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 report on Thursday, December 12th. Finally, Citigroup cut their price target on shares of Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $164.75.

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.