Xponance Inc. Trims Stock Position in Nucor Co. (NYSE:NUE)

Xponance Inc. cut its stake in shares of Nucor Co. (NYSE:NUE) by 20.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 49,267 shares of the basic materials company’s stock after selling 12,288 shares during the period. Xponance Inc.’s holdings in Nucor were worth $5,750,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Crews Bank & Trust purchased a new stake in Nucor during the 4th quarter valued at approximately $29,000. New Wave Wealth Advisors LLC purchased a new stake in Nucor during the 4th quarter valued at approximately $33,000. Versant Capital Management Inc raised its stake in 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 acquiring an additional 114 shares during the last quarter. Beacon Capital Management LLC raised its stake in Nucor by 29.1% during the 4th quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company’s stock valued at $49,000 after acquiring an additional 94 shares during the last quarter. Finally, Bank of Jackson Hole Trust purchased a new stake in Nucor during the 4th quarter valued at approximately $53,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Stock Performance

Shares of NUE stock opened at $131.11 on Thursday. The stock has a fifty day moving average price of $130.36 and a 200 day moving average price of $138.07. The stock has a market cap of $30.22 billion, a PE ratio of 15.59, a P/E/G ratio of 0.96 and a beta of 1.58. Nucor Co. has a 1 year low of $112.25 and a 1 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.

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, topping the consensus estimate of $0.94 by $0.28. Nucor had a return on equity of 9.85% and a net margin of 6.60%. During the same quarter in the previous year, the firm earned $3.16 earnings per share. Sell-side analysts forecast that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.68%. The ex-dividend date is Monday, March 31st. Nucor’s payout ratio is 26.16%.

Analysts Set New Price Targets

Several research firms have recently commented on NUE. JPMorgan Chase & Co. raised their price target on Nucor from $150.00 to $156.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. Argus set a $155.00 price target on Nucor in a report on Wednesday, March 5th. UBS Group reissued a “neutral” rating and issued a $156.00 price target (down from $171.00) on shares of Nucor in a report on Thursday, December 12th. Citigroup reduced their price target on Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, Morgan Stanley raised their price target on Nucor from $154.00 to $167.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Nucor has a consensus rating of “Moderate Buy” and a consensus price target of $164.33.

Nucor 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.