Fox Run Management L.L.C. Buys New Shares in Nucor Co. (NYSE:NUE)

Fox Run Management L.L.C. purchased a new position in Nucor Co. (NYSE:NUE) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,987 shares of the basic materials company’s stock, valued at approximately $349,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. KLP Kapitalforvaltning AS acquired a new position in shares of Nucor in the 4th quarter valued at $15,353,000. AXQ Capital LP purchased a new position in shares of Nucor in the 4th quarter valued at approximately $825,000. American Century Companies Inc. increased its stake in Nucor by 9.0% in the 4th quarter. American Century Companies Inc. now owns 304,674 shares of the basic materials company’s stock valued at $35,559,000 after buying an additional 25,127 shares during the period. Mizuho Securities USA LLC raised its holdings in Nucor by 44.6% during the fourth quarter. Mizuho Securities USA LLC now owns 22,255 shares of the basic materials company’s stock worth $2,597,000 after purchasing an additional 6,865 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Nucor during the 4th quarter worth approximately $2,640,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Stock Down 0.3 %

Shares of NYSE:NUE opened at $127.18 on Thursday. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $29.32 billion, a P/E ratio of 15.12, a P/E/G ratio of 0.96 and a beta of 1.58. Nucor Co. has a 52-week low of $112.25 and a 52-week high of $203.00. The stock’s fifty day simple moving average is $130.94 and its 200-day simple moving average is $137.49.

Nucor (NYSE:NUE) last released its earnings results 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 net margin of 6.60% and a return on equity of 9.85%. During the same period last year, the business posted $3.16 EPS. As a group, equities research analysts forecast that Nucor Co. will post 7.64 earnings per share 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 issued a $0.55 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.20 annualized dividend and a yield of 1.73%. Nucor’s dividend payout ratio (DPR) is presently 26.16%.

Wall Street Analyst Weigh In

Several brokerages have commented on NUE. Citigroup decreased their target price on shares of Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Argus set a $155.00 price objective on shares of Nucor in a report on Wednesday, March 5th. The Goldman Sachs Group began coverage on shares of Nucor in a report on Monday, December 2nd. They issued a “buy” rating and a $190.00 target price for the company. JPMorgan Chase & Co. boosted their price target on Nucor from $150.00 to $156.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Finally, UBS Group raised Nucor from a “neutral” rating to a “buy” rating and raised their price objective for the company from $156.00 to $160.00 in a research note on Monday. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $164.78.

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.