Bank of New York Mellon Corp Increases Position in Nucor Co. (NYSE:NUE)

Bank of New York Mellon Corp increased its holdings in shares of Nucor Co. (NYSE:NUE) by 6.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,679,176 shares of the basic materials company’s stock after acquiring an additional 104,238 shares during the period. Bank of New York Mellon Corp’s holdings in Nucor were worth $195,977,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in shares of Nucor during the third quarter worth $26,000. Coastline Trust Co bought a new stake in Nucor during the 3rd quarter valued at about $29,000. Crews Bank & Trust purchased a new stake in Nucor in the 4th quarter valued at about $29,000. New Wave Wealth Advisors LLC purchased a new position in shares of Nucor during the fourth quarter worth approximately $33,000. Finally, Versant Capital Management Inc raised its stake in shares of Nucor by 60.3% during the fourth quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on NUE. Jefferies Financial Group increased 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. Morgan Stanley cut their price objective on shares of Nucor from $166.00 to $154.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. UBS Group reiterated a “neutral” rating and issued a $156.00 target price (down from $171.00) on shares of Nucor in a report on Thursday, December 12th. Citigroup lowered their target price on shares of Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group started coverage on Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Nucor presently has an average rating of “Moderate Buy” and an average target price of $163.13.

Nucor Trading Up 0.1 %

NYSE NUE opened at $134.73 on Friday. The stock has a market cap of $31.64 billion, a P/E ratio of 16.02, a P/E/G ratio of 0.96 and a beta of 1.60. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. Nucor Co. has a 12-month low of $112.25 and a 12-month high of $203.00. The company has a fifty day simple moving average of $126.44 and a two-hundred day simple moving average of $139.58.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 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 quarter in the previous year, the company posted $3.16 earnings per share. On average, analysts forecast that Nucor Co. will post 7.64 earnings per share for the current year.

Nucor Announces Dividend

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 given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Monday, March 31st. Nucor’s dividend payout ratio is presently 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.