New York State Common Retirement Fund Sells 9,000 Shares of Nucor Co. (NYSE:NUE)

New York State Common Retirement Fund trimmed its holdings in shares of Nucor Co. (NYSE:NUE) by 7.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 119,109 shares of the basic materials company’s stock after selling 9,000 shares during the period. New York State Common Retirement Fund’s holdings in Nucor were worth $13,901,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of NUE. State Street Corp increased its holdings in Nucor by 2.9% in the 3rd quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock worth $1,724,117,000 after buying an additional 326,181 shares in the last quarter. National Pension Service boosted its holdings in shares of Nucor by 3.2% during the 3rd quarter. National Pension Service now owns 652,502 shares of the basic materials company’s stock valued at $98,097,000 after acquiring an additional 20,258 shares during the last quarter. Everence Capital Management Inc. bought a new stake in shares of Nucor in the fourth quarter worth approximately $565,000. BIP Wealth LLC purchased a new position in shares of Nucor during the third quarter valued at approximately $681,000. Finally, Geode Capital Management LLC lifted its position in Nucor by 1.3% during the third 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. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Trading Down 3.4 %

Shares of Nucor stock opened at $135.19 on Monday. Nucor Co. has a twelve month low of $112.25 and a twelve month 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 business has a 50-day moving average price of $125.19 and a 200-day moving average price of $139.78. The firm has a market cap of $31.74 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 0.96 and a beta of 1.60.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping 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 in the prior year, the business posted $3.16 EPS. Equities research analysts anticipate 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. 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 yield of 1.63%. Nucor’s dividend payout ratio (DPR) is currently 26.16%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on NUE shares. UBS Group reaffirmed a “neutral” rating and issued a $156.00 target price (down previously from $171.00) on shares of Nucor in a research report on Thursday, December 12th. StockNews.com upgraded Nucor from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. Morgan Stanley dropped their target price on Nucor from $166.00 to $154.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. The Goldman Sachs Group assumed coverage on shares of Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 price target for the company. Finally, Jefferies Financial Group raised their price objective on shares of Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $163.13.

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.