Millstone Evans Group LLC Purchases Shares of 432 Nucor Co. (NYSE:NUE)

Millstone Evans Group LLC purchased a new stake in Nucor Co. (NYSE:NUE) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 432 shares of the basic materials company’s stock, valued at approximately $50,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Nordea Investment Management AB lifted its position in shares of Nucor by 25.6% in the fourth 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 in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Nucor in the fourth quarter worth $38,714,000. State Street Corp lifted its position in shares of Nucor by 2.9% in 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 in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Nucor in the third quarter worth $46,731,000. Finally, OFI Invest Asset Management bought a new stake in shares of Nucor in the fourth quarter worth $25,906,000. Institutional investors own 76.48% of the company’s stock.

Nucor Price Performance

NYSE:NUE opened at $122.02 on Monday. Nucor Co. has a one year low of $112.25 and a one year high of $203.00. The company has a market cap of $28.13 billion, a P/E ratio of 14.51, a P/E/G ratio of 0.96 and a beta of 1.58. The firm’s fifty day moving average price is $130.65 and its two-hundred day moving average price is $137.72. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48.

Nucor (NYSE:NUE) last released its quarterly earnings data 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 period in the prior year, the company earned $3.16 EPS. Equities analysts expect that Nucor Co. will post 7.64 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be issued 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 1.80%. Nucor’s dividend payout ratio is currently 26.16%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on NUE shares. UBS Group reissued a “neutral” rating and issued a $156.00 price objective (down previously from $171.00) on shares of Nucor in a research report on Thursday, December 12th. Argus set a $155.00 price objective on shares of Nucor in a research report on Wednesday, March 5th. The Goldman Sachs Group began coverage on shares of Nucor in a report on Monday, December 2nd. They set a “buy” rating and a $190.00 target price on the stock. Jefferies Financial Group boosted their target price on shares of Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Finally, Citigroup lowered their target price on shares of Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating, five have issued 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 $164.33.

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.