Hager Investment Management Services LLC Buys New Position in Nucor Co. (NYSE:NUE)

Hager Investment Management Services LLC acquired 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. The institutional investor acquired 5,359 shares of the basic materials company’s stock, valued at approximately $625,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NUE. State Street Corp lifted its stake in shares of Nucor by 2.9% during the third quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock worth $1,724,117,000 after purchasing an additional 326,181 shares in the last quarter. National Pension Service grew its holdings in Nucor by 3.2% in the 3rd quarter. National Pension Service now owns 652,502 shares of the basic materials company’s stock worth $98,097,000 after buying an additional 20,258 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in Nucor in the fourth quarter worth approximately $565,000. BIP Wealth LLC acquired a new stake in Nucor in the third quarter worth approximately $681,000. Finally, Geode Capital Management LLC lifted its position in shares of Nucor by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,861,945 shares of the basic materials company’s stock valued at $883,732,000 after acquiring an additional 74,569 shares during the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Stock Performance

Shares of NUE stock opened at $130.78 on Wednesday. The firm’s 50-day simple moving average is $128.03 and its two-hundred day simple moving average is $141.81. 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. The firm has a market cap of $30.71 billion, a price-to-earnings ratio of 15.55 and a beta of 1.60.

Nucor (NYSE:NUE) last posted 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 last year, the firm posted $3.16 EPS. As a group, equities analysts forecast that Nucor Co. will post 7.88 earnings per share for the current year.

Nucor Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.55 per share. The ex-dividend date is Tuesday, December 31st. This represents a $2.20 annualized dividend and a yield of 1.68%. This is a boost from Nucor’s previous quarterly dividend of $0.54. Nucor’s dividend payout ratio is presently 26.16%.

Wall Street Analyst Weigh In

NUE has been the subject of a number of analyst reports. The Goldman Sachs Group started coverage on shares of Nucor in a research note on Monday, December 2nd. They set a “buy” rating and a $190.00 price target for the company. UBS Group reissued a “neutral” rating and issued a $156.00 price target (down previously from $171.00) on shares of Nucor in a report on Thursday, December 12th. Morgan Stanley lowered their target price on shares of Nucor from $166.00 to $154.00 and set an “overweight” rating for the company in a report on Monday. StockNews.com cut shares of Nucor from a “hold” rating to a “sell” rating in a research report on Monday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Nucor from $152.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $163.13.

Insiders Place Their Bets

In related news, EVP Allen C. Behr sold 4,968 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $159.72, for a total value of $793,488.96. Following the transaction, the executive vice president now owns 85,376 shares of the company’s stock, valued at approximately $13,636,254.72. This trade represents a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.64% of the company’s stock.

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.