Aigen Investment Management LP Increases Position in Nucor Co. (NYSE:NUE)

Aigen Investment Management LP increased its stake in Nucor Co. (NYSE:NUE) by 191.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 22,263 shares of the basic materials company’s stock after buying an additional 14,623 shares during the quarter. Aigen Investment Management LP’s holdings in Nucor were worth $2,598,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mizuho Securities USA LLC boosted its holdings in 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 worth $239,819,000 after buying an additional 1,576,695 shares during the period. Pacer Advisors Inc. increased its position in shares of Nucor by 19.8% in the third quarter. Pacer Advisors Inc. now owns 3,456,484 shares of the basic materials company’s stock worth $519,648,000 after purchasing an additional 571,682 shares during the last quarter. Nordea Investment Management AB grew its stake in Nucor by 25.6% in 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 buying an additional 358,721 shares in the last quarter. State Street Corp raised its position 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 buying an additional 326,181 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Nucor in the third quarter worth $46,731,000. 76.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

NUE has been the subject of a number of research reports. Citigroup cut 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. Morgan Stanley lowered their price target 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. JPMorgan Chase & Co. dropped their target price on shares of Nucor from $152.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. StockNews.com raised Nucor from a “sell” rating to a “hold” rating in a research note on Wednesday, February 12th. Finally, Jefferies Financial Group boosted their price objective on shares of Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $163.13.

Nucor Price Performance

Shares of Nucor stock opened at $129.25 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51. The stock’s fifty day moving average is $127.45 and its 200 day moving average is $139.32. The stock has a market cap of $30.35 billion, a P/E ratio of 15.37, a P/E/G ratio of 0.96 and a beta of 1.60. Nucor Co. has a one year low of $112.25 and a one year high of $203.00.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, beating 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 in the prior year, the business posted $3.16 EPS. Sell-side analysts anticipate that Nucor Co. will post 7.64 earnings per share for the current year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be paid 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 dividend payout ratio is currently 26.16%.

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.