Nucor Co. (NYSE:NUE) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lowered its holdings in shares of Nucor Co. (NYSE:NUE) by 20.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 95,786 shares of the basic materials company’s stock after selling 24,770 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Nucor were worth $11,179,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Ashton Thomas Securities LLC acquired a new stake in shares of Nucor during the third quarter worth about $26,000. Coastline Trust Co purchased a new stake in Nucor during the 3rd quarter valued at approximately $29,000. Crews Bank & Trust acquired a new stake in Nucor during the 4th quarter worth approximately $29,000. New Wave Wealth Advisors LLC purchased a new position in shares of Nucor in the 4th quarter valued at approximately $33,000. Finally, Versant Capital Management Inc grew its stake in shares of Nucor by 60.3% in the 4th quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 114 shares during the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Stock Performance

Shares of NUE stock opened at $131.21 on Thursday. The stock has a fifty day moving average price of $129.12 and a 200 day moving average price of $138.76. 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 has a market cap of $30.25 billion, a PE ratio of 15.60, a P/E/G ratio of 0.96 and a beta of 1.58. Nucor Co. has a 1 year low of $112.25 and a 1 year high of $203.00.

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

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be given a $0.55 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.20 annualized dividend and a dividend yield of 1.68%. Nucor’s dividend payout ratio is presently 26.16%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NUE shares. Citigroup cut their price objective on shares of Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. StockNews.com raised shares of Nucor from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. The Goldman Sachs Group started coverage on Nucor in a report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective on the stock. Morgan Stanley boosted their target price on Nucor from $154.00 to $167.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. raised their price target on Nucor from $150.00 to $156.00 and gave the company an “overweight” rating in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Nucor currently has an average rating of “Moderate Buy” and an average target price of $164.33.

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.