New Age Alpha Advisors LLC Takes $1.96 Million Position in Nucor Co. (NYSE:NUE)

New Age Alpha Advisors LLC acquired a new stake in shares of Nucor Co. (NYSE:NUE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 16,803 shares of the basic materials company’s stock, valued at approximately $1,961,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of NUE. State Street Corp grew its holdings in shares of Nucor by 2.9% during the third 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 boosted its position in Nucor by 1.3% during 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 purchasing an additional 74,569 shares during the period. Norges Bank bought a new position in Nucor during the 4th quarter worth $398,077,000. Nordea Investment Management AB increased its position in Nucor by 25.6% in the fourth quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company’s stock worth $205,282,000 after buying an additional 358,721 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Nucor by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,680,468 shares of the basic materials company’s stock valued at $196,127,000 after buying an additional 68,252 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on NUE. Argus set a $155.00 price target on shares of Nucor in a research report on Wednesday, March 5th. Jefferies Financial Group upped their target price on shares of Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. StockNews.com raised Nucor from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. Citigroup decreased their price objective 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 set a $164.00 target price on Nucor in a research report on Monday, March 24th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Nucor presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.44.

Nucor Stock Performance

NUE opened at $121.90 on Monday. Nucor Co. has a 1-year low of $112.25 and a 1-year high of $203.00. The company has a market capitalization of $28.10 billion, a price-to-earnings ratio of 14.50, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58. The business has a 50 day moving average price of $130.98 and a two-hundred day moving average price of $137.27. 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 (NYSE:NUE) last announced its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, beating 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 company earned $3.16 earnings per share. Research analysts predict that Nucor Co. will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

The firm also recently disclosed 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 currently 26.16%.

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.