Nemes Rush Group LLC Sells 252 Shares of Nucor Co. (NYSE:NUE)

Nemes Rush Group LLC reduced its position in shares of Nucor Co. (NYSE:NUE) by 5.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,185 shares of the basic materials company’s stock after selling 252 shares during the quarter. Nemes Rush Group LLC’s holdings in Nucor were worth $488,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in NUE. Crews Bank & Trust bought a new position in shares of Nucor during the fourth quarter valued at about $29,000. New Wave Wealth Advisors LLC bought a new position in Nucor during the 4th quarter valued at approximately $33,000. Versant Capital Management Inc lifted its holdings 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 buying an additional 114 shares during the period. Beacon Capital Management LLC lifted its holdings in Nucor by 29.1% in the 4th quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company’s stock worth $49,000 after buying an additional 94 shares during the period. Finally, Millstone Evans Group LLC bought a new stake in shares of Nucor in the 4th quarter worth approximately $50,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analyst Ratings Changes

NUE has been the subject of a number of research analyst reports. UBS Group raised Nucor from a “neutral” rating to a “buy” rating and raised their price target for the stock from $156.00 to $160.00 in a research note on Monday, March 24th. Citigroup dropped 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. JPMorgan Chase & Co. boosted their price target on shares of Nucor from $150.00 to $156.00 and gave the company an “overweight” rating in a research report on Tuesday, March 11th. Morgan Stanley set a $164.00 price objective on shares of Nucor in a report on Monday, March 24th. Finally, Jefferies Financial Group upped their target price on Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $164.44.

Nucor Price Performance

NUE stock opened at $119.68 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51. The firm has a market capitalization of $27.59 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 0.96 and a beta of 1.58. The firm has a 50 day moving average price of $130.79 and a 200-day moving average price of $136.96. Nucor Co. has a 52-week low of $112.25 and a 52-week high of $203.00.

Nucor (NYSE:NUE) last released its earnings results on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, topping the consensus estimate 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 period in the prior year, the business earned $3.16 EPS. Equities research analysts forecast that Nucor Co. will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.55 per share. The ex-dividend date is Monday, March 31st. This represents a $2.20 dividend on an annualized basis and a yield of 1.84%. Nucor’s dividend payout ratio is currently 26.16%.

Nucor 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.