Nucor Co. (NYSE:NUE) Shares Bought by Bridges Investment Management Inc.

Bridges Investment Management Inc. raised its stake in Nucor Co. (NYSE:NUE) by 37.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,401 shares of the basic materials company’s stock after buying an additional 653 shares during the quarter. Bridges Investment Management Inc.’s holdings in Nucor were worth $280,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Widmann Financial Services Inc. boosted its stake 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 valued at $271,000 after acquiring an additional 70 shares during the period. Citizens Financial Group Inc. RI boosted its stake in Nucor by 1.7% in the third quarter. Citizens Financial Group Inc. RI now owns 4,629 shares of the basic materials company’s stock valued at $696,000 after acquiring an additional 79 shares during the period. TCI Wealth Advisors Inc. boosted its stake in 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 acquiring an additional 91 shares during the period. Jessup Wealth Management Inc boosted its stake in Nucor by 0.9% in the fourth quarter. Jessup Wealth Management Inc now owns 10,528 shares of the basic materials company’s stock valued at $1,229,000 after acquiring an additional 93 shares during the period. Finally, Redwood Investment Management LLC boosted its stake in Nucor by 1.0% in the third quarter. Redwood Investment Management LLC now owns 9,092 shares of the basic materials company’s stock valued at $1,365,000 after acquiring an additional 94 shares during the period. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on NUE. Morgan Stanley reduced their price objective on Nucor from $166.00 to $154.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. The Goldman Sachs Group began coverage on Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 price objective for the company. JPMorgan Chase & Co. reduced their price objective on Nucor from $152.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. UBS Group reiterated a “neutral” rating and set a $156.00 price objective (down from $171.00) on shares of Nucor in a research report on Thursday, December 12th. Finally, Citigroup reduced their price objective on Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $163.13.

Nucor Price Performance

Shares of NYSE:NUE opened at $133.94 on Tuesday. Nucor Co. has a 12 month low of $112.25 and a 12 month high of $203.00. The stock has a market cap of $31.45 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 0.96 and a beta of 1.60. The stock’s 50 day moving average price is $127.21 and its 200 day moving average price is $139.44. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48.

Nucor (NYSE:NUE) last announced its earnings results on Monday, January 27th. The basic materials company reported $1.22 EPS 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 business earned $3.16 EPS. Equities research analysts anticipate that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

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

About Nucor

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.