New York Life Investment Management LLC Sells 254 Shares of Nucor Co. (NYSE:NUE)

New York Life Investment Management LLC lessened its position in shares of Nucor Co. (NYSE:NUE) by 0.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 35,036 shares of the basic materials company’s stock after selling 254 shares during the period. New York Life Investment Management LLC’s holdings in Nucor were worth $4,089,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several brokerages recently commented on NUE. Citigroup reduced their target price on shares of Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, December 19th. UBS Group restated a “neutral” rating and set a $156.00 price objective (down from $171.00) on shares of Nucor in a research note on Thursday, December 12th. JPMorgan Chase & Co. lowered their target price on Nucor from $152.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Morgan Stanley reduced their price target on Nucor from $166.00 to $154.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, The Goldman Sachs Group assumed coverage on Nucor in a research note on Monday, December 2nd. They issued a “buy” rating and a $190.00 price target for the company. Four equities research 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. According to MarketBeat, Nucor presently has an average rating of “Moderate Buy” and a consensus price target of $163.13.

Nucor Stock Up 2.0 %

NUE stock opened at $137.52 on Friday. The business’s 50 day simple moving average is $126.86 and its 200 day simple moving average is $139.53. Nucor Co. has a 1-year low of $112.25 and a 1-year high of $203.00. The firm has a market capitalization of $32.29 billion, a PE ratio of 16.35, a PEG 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 (NYSE:NUE) last posted 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 net margin of 6.60% and a return on equity of 9.85%. During the same quarter in the previous year, the firm posted $3.16 earnings per share. As a group, research analysts anticipate that Nucor Co. will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Monday, March 31st. Nucor’s payout ratio is 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.