Elo Mutual Pension Insurance Co Has $2.83 Million Stock Holdings in Nucor Co. (NYSE:NUE)

Elo Mutual Pension Insurance Co raised its position in Nucor Co. (NYSE:NUE) by 14.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,260 shares of the basic materials company’s stock after buying an additional 3,095 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Nucor were worth $2,831,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in NUE. Crews Bank & Trust acquired a new stake in Nucor in the fourth quarter valued at approximately $29,000. New Wave Wealth Advisors LLC acquired a new position in shares of Nucor in the fourth quarter valued at approximately $33,000. Versant Capital Management Inc increased its stake in shares of Nucor by 60.3% in the fourth quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock valued at $35,000 after buying an additional 114 shares during the period. Beacon Capital Management LLC raised its holdings in Nucor by 29.1% in the 4th quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company’s stock valued at $49,000 after buying an additional 94 shares during the last quarter. Finally, Millstone Evans Group LLC acquired a new stake in Nucor during the 4th quarter worth approximately $50,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Citigroup lowered their target price on Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Jefferies Financial Group upped their target price on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Morgan Stanley set a $164.00 price target on shares of Nucor in a report on Monday. Argus set a $155.00 price target on shares of Nucor in a research report on Wednesday, March 5th. Finally, UBS Group upgraded Nucor from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $156.00 to $160.00 in a report on Monday, March 24th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $164.44.

Nucor Price Performance

Shares of Nucor stock opened at $121.90 on Friday. The business has a 50 day moving average of $130.98 and a 200 day moving average of $137.29. Nucor Co. has a 52 week low of $112.25 and a 52 week high of $203.00. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The company has a market cap of $28.10 billion, a PE ratio of 14.50, a P/E/G ratio of 0.96 and a beta of 1.58.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 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 last year, the company earned $3.16 EPS. As a group, equities research analysts forecast that Nucor Co. will post 7.64 earnings per share for the current year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be paid a $0.55 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.20 annualized dividend and a dividend yield of 1.80%. Nucor’s dividend payout ratio is presently 26.16%.

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.