Nucor Co. (NYSE:NUE) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. trimmed its stake in shares of Nucor Co. (NYSE:NUE) by 6.7% during the fourth quarter, Holdings Channel reports. The firm owned 59,964 shares of the basic materials company’s stock after selling 4,301 shares during the period. Corebridge Financial Inc.’s holdings in Nucor were worth $6,998,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Crews Bank & Trust acquired a new stake in Nucor in the fourth quarter worth $29,000. New Wave Wealth Advisors LLC bought a new position in shares of Nucor during the fourth quarter worth about $33,000. Versant Capital Management Inc increased its holdings in shares of 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 during the period. Beacon Capital Management LLC lifted its position in Nucor by 29.1% in the 4th 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 acquired a new position in Nucor during the 4th quarter valued at about $50,000. Institutional investors own 76.48% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NUE shares. Jefferies Financial Group lifted their price target on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. UBS Group raised Nucor from a “neutral” rating to a “buy” rating and lifted their target price for the company from $156.00 to $160.00 in a research note on Monday, March 24th. Morgan Stanley set a $164.00 price target on Nucor in a research note on Monday. Argus set a $155.00 price objective on shares of Nucor in a research note on Wednesday, March 5th. Finally, Citigroup decreased their target price on shares of Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $164.44.

Nucor Price Performance

Shares of NYSE NUE opened at $121.90 on Friday. Nucor Co. has a twelve month low of $112.25 and a twelve month high of $203.00. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average of $130.98 and a two-hundred day moving average of $137.29. The company has a market capitalization of $28.10 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 0.96 and a beta of 1.58.

Nucor (NYSE:NUE) last issued its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share 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 previous year, the business earned $3.16 earnings per share. As a group, analysts expect that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Monday, March 31st. Nucor’s payout ratio is 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.