Denali Advisors LLC Lowers Holdings in Nucor Co. (NYSE:NUE)

Denali Advisors LLC cut its stake in Nucor Co. (NYSE:NUE) by 13.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,015 shares of the basic materials company’s stock after selling 600 shares during the period. Denali Advisors LLC’s holdings in Nucor were worth $469,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Widmann Financial Services Inc. increased its position in Nucor by 4.0% in the third quarter. Widmann Financial Services Inc. now owns 1,800 shares of the basic materials company’s stock worth $271,000 after buying an additional 70 shares during the period. First Trust Direct Indexing L.P. grew its position in shares of Nucor by 1.4% during the third quarter. First Trust Direct Indexing L.P. now owns 5,467 shares of the basic materials company’s stock worth $822,000 after acquiring an additional 74 shares during the last quarter. Citizens Financial Group Inc. RI increased its holdings in shares of Nucor by 1.7% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 4,629 shares of the basic materials company’s stock worth $696,000 after acquiring an additional 79 shares during the period. TCI Wealth Advisors Inc. lifted its position in Nucor by 4.4% in the 4th quarter. TCI Wealth Advisors Inc. now owns 2,157 shares of the basic materials company’s stock valued at $252,000 after purchasing an additional 91 shares during the last quarter. Finally, Jessup Wealth Management Inc boosted its stake in Nucor by 0.9% during the 4th quarter. Jessup Wealth Management Inc now owns 10,528 shares of the basic materials company’s stock valued at $1,229,000 after purchasing an additional 93 shares during the period. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on NUE. UBS Group restated 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. Jefferies Financial Group raised their target price on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Citigroup reduced their price target on Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. The Goldman Sachs Group assumed coverage on Nucor in a report on Monday, December 2nd. They set a “buy” rating and a $190.00 price target on the stock. Finally, StockNews.com upgraded shares of Nucor from a “sell” rating to a “hold” rating in a research note on Wednesday, February 12th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $163.13.

Nucor Trading Up 0.1 %

Shares of Nucor stock opened at $134.73 on Friday. The business has a fifty day simple moving average of $126.44 and a 200-day simple moving average of $139.58. Nucor Co. has a fifty-two week low of $112.25 and a fifty-two week high of $203.00. The firm has a market cap of $31.64 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 0.96 and a beta of 1.60. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, beating 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 period in the prior year, the business posted $3.16 earnings per share. On average, equities analysts forecast that Nucor Co. will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be given a $0.55 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.20 annualized dividend and a yield of 1.63%. Nucor’s dividend payout ratio (DPR) is 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.