TKG Advisors LLC Takes $255,000 Position in Nucor Co. (NYSE:NUE)

TKG Advisors LLC acquired a new position in Nucor Co. (NYSE:NUE) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 2,085 shares of the basic materials company’s stock, valued at approximately $255,000.

Several other large investors have also recently bought and sold shares of the company. State Street Corp raised its position 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 acquiring an additional 326,181 shares during the last quarter. Geode Capital Management LLC grew 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 worth $883,732,000 after buying an additional 74,569 shares during the period. Pacer Advisors Inc. raised its stake in shares of Nucor by 19.8% during the third quarter. Pacer Advisors Inc. now owns 3,456,484 shares of the basic materials company’s stock worth $519,648,000 after buying an additional 571,682 shares during the last quarter. Nordea Investment Management AB boosted its stake in Nucor by 25.6% in the fourth quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company’s stock valued at $205,282,000 after acquiring an additional 358,721 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Nucor by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,612,216 shares of the basic materials company’s stock worth $242,381,000 after acquiring an additional 45,467 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on 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 research note on Thursday, December 12th. The Goldman Sachs Group initiated coverage on Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 target price for the company. Jefferies Financial Group increased their price target on shares of Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. 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 research note on Monday, February 3rd. Finally, StockNews.com raised shares of Nucor from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $163.13.

Nucor Price Performance

Shares of NYSE NUE opened at $142.47 on Wednesday. The company has a fifty day moving average price of $124.75 and a 200 day moving average price of $140.05. The firm has a market cap of $33.45 billion, a PE ratio of 16.94, a PEG ratio of 0.95 and a beta of 1.60. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. Nucor Co. has a 1-year low of $112.25 and a 1-year high of $203.00.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 earnings per share 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 quarter in the previous year, the company earned $3.16 earnings per share. Research analysts predict that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.54%. Nucor’s dividend payout ratio is presently 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.