AXQ Capital LP Takes Position in Nucor Co. (NYSE:NUE)

AXQ Capital LP bought a new stake in shares of Nucor Co. (NYSE:NUE) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,070 shares of the basic materials company’s stock, valued at approximately $825,000.

Other hedge funds have also modified their holdings of the company. Crews Bank & Trust purchased a new stake in shares of Nucor during the fourth quarter valued at $29,000. New Wave Wealth Advisors LLC purchased a new stake in Nucor in the 4th quarter worth about $33,000. Versant Capital Management Inc lifted its stake in Nucor by 60.3% in the 4th quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 114 shares in the last quarter. Beacon Capital Management LLC grew its holdings in Nucor by 29.1% during the fourth quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 94 shares during the last quarter. Finally, Millstone Evans Group LLC bought a new position in shares of Nucor in the fourth quarter valued at approximately $50,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of Nucor from $154.00 to $167.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. 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 research report on Wednesday, January 29th. The Goldman Sachs Group started coverage on shares of Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 target price on the stock. StockNews.com raised shares of Nucor from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. Finally, Citigroup decreased their price target on shares of Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Nucor presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.33.

Nucor Trading Down 5.8 %

Shares of NYSE NUE opened at $122.02 on Friday. The stock has a market cap of $28.13 billion, a price-to-earnings ratio of 14.51, a P/E/G ratio of 0.96 and a beta of 1.58. Nucor Co. has a twelve month low of $112.25 and a twelve month high of $203.00. The company’s fifty day moving average is $130.65 and its 200-day moving average is $137.80. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (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 last year, the company posted $3.16 EPS. Equities research analysts predict that Nucor Co. will post 7.64 EPS for the current year.

Nucor Announces Dividend

The company also recently disclosed 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 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 presently 26.16%.

About Nucor

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.