Nucor Co. (NYSE:NUE) Position Raised by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale grew its position in shares of Nucor Co. (NYSE:NUE) by 11.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 130,143 shares of the basic materials company’s stock after acquiring an additional 13,068 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.05% of Nucor worth $19,317,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. lifted its stake in shares of Nucor by 29.7% in the 2nd quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock worth $456,030,000 after acquiring an additional 660,866 shares during the period. International Assets Investment Management LLC boosted its stake in Nucor by 14,525.9% during the third quarter. International Assets Investment Management LLC now owns 326,889 shares of the basic materials company’s stock valued at $49,144,000 after buying an additional 324,654 shares in the last quarter. Swedbank AB acquired a new position in Nucor during the first quarter worth about $37,395,000. Captrust Financial Advisors raised its position in Nucor by 23.5% in the first quarter. Captrust Financial Advisors now owns 804,150 shares of the basic materials company’s stock worth $159,141,000 after acquiring an additional 153,077 shares in the last quarter. Finally, Trinity Street Asset Management LLP acquired a new stake in Nucor in the 2nd quarter valued at about $19,213,000. Institutional investors own 76.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NUE shares. JPMorgan Chase & Co. dropped their price target on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. BMO Capital Markets reduced their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday, September 18th. Morgan Stanley dropped their target price on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, Argus raised Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Three 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 company. Based on data from MarketBeat, Nucor presently has a consensus rating of “Moderate Buy” and an average target price of $190.57.

Nucor Price Performance

Shares of NUE opened at $147.20 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59. The firm has a market cap of $34.94 billion, a PE ratio of 14.22 and a beta of 1.55. The firm’s 50 day moving average price is $147.80 and its 200 day moving average price is $157.61. Nucor Co. has a twelve month low of $133.42 and a twelve month high of $203.00.

Nucor (NYSE:NUE) last posted its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.09. The company had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The business’s revenue was down 15.2% compared to the same quarter last year. During the same period last year, the company earned $4.57 earnings per share. As a group, research analysts expect that Nucor Co. will post 8.65 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Friday, September 27th. Nucor’s dividend payout ratio is currently 20.87%.

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.