Nucor Co. (NYSE:NUE) Shares Sold by SouthState Corp

SouthState Corp cut its holdings in Nucor Co. (NYSE:NUE) by 29.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,324 shares of the basic materials company’s stock after selling 2,594 shares during the period. SouthState Corp’s holdings in Nucor were worth $738,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. State Street Corp lifted its stake in Nucor by 2.9% during the third quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock worth $1,724,117,000 after purchasing an additional 326,181 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of 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 worth $883,732,000 after buying an additional 74,569 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Nucor by 19.8% in the 3rd 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 last quarter. Nordea Investment Management AB raised its stake in Nucor by 25.6% during the 4th quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company’s stock worth $205,282,000 after acquiring an additional 358,721 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position 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 acquiring an additional 68,252 shares during the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Stock Down 2.0 %

Shares of NYSE:NUE opened at $129.49 on Tuesday. Nucor Co. has a fifty-two week low of $112.25 and a fifty-two 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 firm’s 50-day simple moving average is $129.93 and its 200-day simple moving average is $138.27. The company has a market cap of $29.85 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 0.96 and a beta of 1.58.

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

Nucor Announces Dividend

The business also recently announced 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. The ex-dividend date is Monday, March 31st. This represents a $2.20 annualized dividend and a dividend yield of 1.70%. Nucor’s payout ratio is currently 26.16%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Citigroup dropped their price objective on Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. The Goldman Sachs Group started coverage on Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on Nucor from $150.00 to $156.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. Jefferies Financial Group lifted their target price on shares of Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Finally, StockNews.com upgraded shares of Nucor from a “sell” rating to a “hold” rating in a research note on Wednesday, February 12th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Nucor has a consensus rating of “Moderate Buy” and a consensus target price of $164.33.

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.