Prudential Financial Inc. Sells 57,766 Shares of Nucor Co. (NYSE:NUE)

Prudential Financial Inc. cut its position in shares of Nucor Co. (NYSE:NUE) by 31.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 128,569 shares of the basic materials company’s stock after selling 57,766 shares during the quarter. Prudential Financial Inc.’s holdings in Nucor were worth $15,005,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Crews Bank & Trust bought a new stake in Nucor in the fourth quarter valued at $29,000. New Wave Wealth Advisors LLC bought a new stake in Nucor during the 4th quarter worth approximately $33,000. Versant Capital Management Inc grew its holdings in Nucor by 60.3% during the fourth quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock worth $35,000 after buying an additional 114 shares in the last quarter. Beacon Capital Management LLC raised its holdings in shares of Nucor by 29.1% in 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 purchased a new stake in Nucor in the 4th quarter valued at about $50,000. 76.48% of the stock is owned by institutional investors.

Nucor Price Performance

Shares of Nucor stock opened at $127.57 on Friday. The stock has a market capitalization of $29.41 billion, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58. The company has a fifty day moving average of $131.03 and a 200-day moving average of $137.42. Nucor Co. has a 52-week low of $112.25 and a 52-week high of $203.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 previous year, the company earned $3.16 EPS. Equities research analysts expect that Nucor Co. will post 7.64 EPS for the current year.

Nucor Announces Dividend

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 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 yield of 1.72%. Nucor’s payout ratio is currently 26.16%.

Wall Street Analysts Forecast Growth

NUE has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their target price on Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group assumed coverage on Nucor in a report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price target for the company. Morgan Stanley upped their target price on shares of Nucor from $154.00 to $167.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. UBS Group raised Nucor from a “neutral” rating to a “buy” rating and raised their price target for the company from $156.00 to $160.00 in a report on Monday. Finally, Argus set a $155.00 price objective on shares of Nucor in a research report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $164.78.

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.