Handelsbanken Fonder AB Has $4.21 Million Holdings in Nucor Co. (NYSE:NUE)

Handelsbanken Fonder AB trimmed its holdings in Nucor Co. (NYSE:NUE) by 21.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 36,096 shares of the basic materials company’s stock after selling 10,108 shares during the period. Handelsbanken Fonder AB’s holdings in Nucor were worth $4,213,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in shares of Nucor during the third quarter worth $26,000. Coastline Trust Co acquired a new stake in Nucor in the third quarter valued at $29,000. Crews Bank & Trust acquired a new stake in Nucor in the fourth quarter valued at $29,000. New Wave Wealth Advisors LLC acquired a new stake in Nucor during the 4th quarter worth about $33,000. Finally, Salomon & Ludwin LLC grew its holdings in Nucor by 45.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 72 shares during the period. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Stock Down 3.4 %

Shares of NYSE:NUE opened at $135.19 on Monday. The firm has a fifty day moving average price of $125.19 and a two-hundred day moving average price of $139.78. 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 Co. has a one year low of $112.25 and a one year high of $203.00. The company has a market cap of $31.74 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 0.96 and a beta of 1.60.

Nucor (NYSE:NUE) last posted its quarterly earnings data 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 in the prior year, the company posted $3.16 earnings per share. Analysts anticipate that Nucor Co. will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

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

Analysts Set New Price Targets

NUE has been the topic of a number of research analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Nucor from $152.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. StockNews.com raised shares of Nucor from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. Citigroup decreased their price objective on shares of Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Morgan Stanley decreased their price target on shares of Nucor from $166.00 to $154.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group initiated coverage on shares of Nucor in a research note on Monday, December 2nd. They set a “buy” rating and a $190.00 price target for the company. Four research 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.