Denali Advisors LLC Has $469,000 Position in Nucor Co. (NYSE:NUE)

Denali Advisors LLC cut its stake in Nucor Co. (NYSE:NUE) by 13.0% during the fourth quarter, HoldingsChannel reports. The fund owned 4,015 shares of the basic materials company’s stock after selling 600 shares during the quarter. Denali Advisors LLC’s holdings in Nucor were worth $469,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mizuho Securities USA LLC grew its stake in shares of Nucor by 8,530.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 1,595,179 shares of the basic materials company’s stock valued at $239,819,000 after buying an additional 1,576,695 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Nucor by 19.8% in the third quarter. Pacer Advisors Inc. now owns 3,456,484 shares of the basic materials company’s stock valued at $519,648,000 after acquiring an additional 571,682 shares during the last quarter. Ceredex Value Advisors LLC bought a new stake in Nucor in the third quarter worth approximately $74,829,000. Nordea Investment Management AB increased its stake in shares of 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 purchasing an additional 358,721 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Nucor by 2.9% during the 3rd 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 in the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Stock Performance

Shares of NYSE NUE opened at $134.73 on Friday. Nucor Co. has a 12 month low of $112.25 and a 12 month high of $203.00. The company has a market cap of $31.64 billion, a P/E ratio of 16.02, a P/E/G ratio of 0.96 and a beta of 1.60. The business’s 50 day moving average is $126.44 and its two-hundred day moving average is $139.58. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27.

Nucor (NYSE:NUE) last announced its earnings results 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 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. On average, equities analysts expect that Nucor Co. will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Monday, March 31st. Nucor’s payout ratio is presently 26.16%.

Analyst Upgrades and Downgrades

NUE has been the subject of a number of recent research reports. Morgan Stanley decreased their price objective on shares of Nucor from $166.00 to $154.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. UBS Group reissued a “neutral” rating and set a $156.00 price objective (down previously from $171.00) on shares of Nucor in a report on Thursday, December 12th. JPMorgan Chase & Co. cut their price objective on Nucor from $152.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Citigroup decreased 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. Finally, The Goldman Sachs Group started coverage on shares of Nucor in a research report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $163.13.

Nucor Company 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.