Ilmarinen Mutual Pension Insurance Co Has $2.33 Million Position in Nucor Co. (NYSE:NUE)

Ilmarinen Mutual Pension Insurance Co raised its stake in shares of Nucor Co. (NYSE:NUE) by 53.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,000 shares of the basic materials company’s stock after purchasing an additional 7,000 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in Nucor were worth $2,334,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NUE. Horrell Capital Management Inc. grew its stake in Nucor by 0.3% in the 4th quarter. Horrell Capital Management Inc. now owns 26,657 shares of the basic materials company’s stock valued at $3,111,000 after buying an additional 76 shares during the last quarter. TCI Wealth Advisors Inc. grew its position in shares of Nucor by 4.4% in the fourth 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. Jessup Wealth Management Inc increased its stake in shares of Nucor by 0.9% in the fourth quarter. Jessup Wealth Management Inc now owns 10,528 shares of the basic materials company’s stock worth $1,229,000 after purchasing an additional 93 shares during the period. Redwood Investment Management LLC lifted its position in shares of Nucor by 1.0% during the 3rd quarter. Redwood Investment Management LLC now owns 9,092 shares of the basic materials company’s stock worth $1,365,000 after purchasing an additional 94 shares during the last quarter. Finally, Beacon Capital Management LLC boosted its stake in Nucor by 29.1% during the 4th quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 94 shares during the period. Institutional investors own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

NUE has been the topic of several recent analyst reports. Morgan Stanley set a $164.00 price target on Nucor in a research report on Monday, March 24th. JPMorgan Chase & Co. upped their target price on shares of Nucor from $150.00 to $156.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. Argus set a $155.00 price target on shares of Nucor in a research report on Wednesday, March 5th. Jefferies Financial Group upped their price objective 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. Finally, StockNews.com raised Nucor from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $164.44.

Nucor Stock Performance

NYSE NUE opened at $103.14 on Friday. The stock has a market cap of $23.78 billion, a P/E ratio of 12.26, a PEG ratio of 0.96 and a beta of 1.67. 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 Co. has a twelve month low of $99.77 and a twelve month high of $203.00. The company’s 50-day simple moving average is $130.19 and its 200 day simple moving average is $136.36.

Nucor (NYSE:NUE) last issued its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping 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 period in the previous year, the firm posted $3.16 earnings per share. As a group, research analysts forecast that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Monday, March 31st. Nucor’s payout ratio is 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.