State of Alaska Department of Revenue Sells 6,054 Shares of Nucor Co. (NYSE:NUE)

State of Alaska Department of Revenue reduced its holdings in shares of Nucor Co. (NYSE:NUE) by 18.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,775 shares of the basic materials company’s stock after selling 6,054 shares during the period. State of Alaska Department of Revenue’s holdings in Nucor were worth $3,124,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Gateway Investment Advisers LLC boosted its holdings in shares of Nucor by 1.8% in the 3rd quarter. Gateway Investment Advisers LLC now owns 25,340 shares of the basic materials company’s stock worth $3,810,000 after buying an additional 445 shares during the last quarter. Matrix Asset Advisors Inc. NY purchased a new position in Nucor during the third quarter valued at approximately $406,000. Exchange Traded Concepts LLC raised its position in shares of Nucor by 1,060.2% in the third quarter. Exchange Traded Concepts LLC now owns 2,390 shares of the basic materials company’s stock worth $359,000 after buying an additional 2,184 shares in the last quarter. Douglas Lane & Associates LLC grew its holdings in shares of Nucor by 22.7% during the third quarter. Douglas Lane & Associates LLC now owns 97,568 shares of the basic materials company’s stock worth $14,668,000 after purchasing an additional 18,044 shares in the last quarter. Finally, Polianta Ltd increased its stake in Nucor by 26.2% in the third quarter. Polianta Ltd now owns 7,700 shares of the basic materials company’s stock valued at $1,157,000 after acquiring an additional 1,600 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

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

Nucor Stock Performance

NYSE:NUE opened at $130.18 on Monday. The stock has a 50-day simple moving average of $126.21 and a two-hundred day simple moving average of $141.10. The firm has a market capitalization of $30.57 billion, a PE ratio of 15.48 and a beta of 1.60. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51. Nucor Co. has a 52-week low of $112.25 and a 52-week high of $203.00.

Nucor (NYSE:NUE) last issued its quarterly 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 last year, the firm posted $3.16 earnings per share. Analysts forecast that Nucor Co. will post 7.88 EPS for the current year.

Nucor Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Tuesday, December 31st will be issued a $0.55 dividend. The ex-dividend date is Tuesday, December 31st. This is a positive change from Nucor’s previous quarterly dividend of $0.54. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.69%. Nucor’s dividend payout ratio (DPR) 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.