Barings LLC Acquires 14,650 Shares of Nucor Co. (NYSE:NUE)

Barings LLC boosted its holdings in shares of Nucor Co. (NYSE:NUE) by 36.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 55,242 shares of the basic materials company’s stock after purchasing an additional 14,650 shares during the quarter. Barings LLC’s holdings in Nucor were worth $6,447,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Arjuna Capital raised its stake in Nucor by 1.3% during the 4th quarter. Arjuna Capital now owns 24,772 shares of the basic materials company’s stock valued at $2,891,000 after purchasing an additional 312 shares during the period. RKL Wealth Management LLC bought a new stake in Nucor during the 4th quarter valued at approximately $648,000. Pacific Heights Asset Management LLC increased its stake in Nucor by 50.5% in the 4th quarter. Pacific Heights Asset Management LLC now owns 155,000 shares of the basic materials company’s stock worth $18,090,000 after acquiring an additional 52,000 shares during the last quarter. Candriam S.C.A. increased its stake in Nucor by 12.8% in the 4th quarter. Candriam S.C.A. now owns 18,930 shares of the basic materials company’s stock worth $2,209,000 after acquiring an additional 2,150 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Nucor in the 4th quarter worth approximately $38,714,000. Institutional investors own 76.48% of the company’s stock.

Nucor Price Performance

Shares of Nucor stock opened at $133.79 on Friday. The stock has a market cap of $30.84 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58. 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 stock has a 50 day moving average price of $128.34 and a 200-day moving average price of $139.12. Nucor Co. has a one year low of $112.25 and a one 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 (EPS) for the quarter, beating analysts’ consensus estimates 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 posted $3.16 earnings per share. Equities analysts expect that Nucor Co. will post 7.64 EPS for the current year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Monday, March 31st. Nucor’s payout ratio is currently 26.16%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on NUE shares. Jefferies Financial Group lifted their price objective on Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group started coverage on Nucor in a research note on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective on the stock. StockNews.com raised Nucor from a “sell” rating to a “hold” rating in a research note on Wednesday, February 12th. Morgan Stanley lifted their price objective on Nucor from $154.00 to $167.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, JPMorgan Chase & Co. reduced their price objective on Nucor from $152.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Four investment 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.75.

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.