Fisher Funds Management LTD Takes $10.12 Million Position in Nucor Co. (NYSE:NUE)

Fisher Funds Management LTD acquired a new position in shares of Nucor Co. (NYSE:NUE) in the 4th quarter, Holdings Channel reports. The fund acquired 86,252 shares of the basic materials company’s stock, valued at approximately $10,118,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Hudson Edge Investment Partners Inc. boosted its position in shares of Nucor by 34.4% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 53,173 shares of the basic materials company’s stock valued at $6,206,000 after acquiring an additional 13,611 shares during the period. Nicholson Wealth Management Group LLC raised its stake in Nucor by 28.4% during the 4th quarter. Nicholson Wealth Management Group LLC now owns 1,931 shares of the basic materials company’s stock valued at $225,000 after purchasing an additional 427 shares during the last quarter. Jessup Wealth Management Inc boosted its holdings in Nucor by 0.9% in the 4th quarter. Jessup Wealth Management Inc now owns 10,528 shares of the basic materials company’s stock valued at $1,229,000 after purchasing an additional 93 shares during the period. TKG Advisors LLC acquired a new stake in Nucor in the 4th quarter worth $255,000. Finally, Bank of Jackson Hole Trust bought a new position in shares of Nucor during the 4th quarter worth about $53,000. Institutional investors own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group started coverage on Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 target price on the stock. Citigroup lowered their price objective on Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Morgan Stanley cut their target price on Nucor from $166.00 to $154.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Jefferies Financial Group lifted their price target on shares of Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Finally, StockNews.com upgraded shares of Nucor from a “sell” rating to a “hold” rating in a research note on Wednesday, February 12th. 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.13.

Nucor Trading Down 3.4 %

Shares of Nucor stock opened at $135.19 on Friday. The stock has a market capitalization of $31.74 billion, a P/E ratio of 16.07, a price-to-earnings-growth ratio of 0.96 and a beta of 1.60. Nucor Co. has a 12-month low of $112.25 and a 12-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 company has a 50-day simple moving average of $125.19 and a 200 day simple moving average of $139.82.

Nucor (NYSE:NUE) last released its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, beating 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 period last year, the business earned $3.16 EPS. Research analysts expect that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

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