King Luther Capital Management Corp Purchases 105 Shares of Nucor Co. (NYSE:NUE)

King Luther Capital Management Corp grew its position in shares of Nucor Co. (NYSE:NUE) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,777 shares of the basic materials company’s stock after acquiring an additional 105 shares during the quarter. King Luther Capital Management Corp’s holdings in Nucor were worth $1,258,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of NUE. State Street Corp increased its stake in Nucor by 2.9% during the 3rd quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock valued at $1,724,117,000 after purchasing an additional 326,181 shares in the last quarter. Everence Capital Management Inc. acquired a new position in shares of Nucor during the fourth quarter valued at about $565,000. BIP Wealth LLC bought a new stake in shares of Nucor during the third quarter worth about $681,000. Geode Capital Management LLC raised its holdings in shares of Nucor by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 5,861,945 shares of the basic materials company’s stock worth $883,732,000 after acquiring an additional 74,569 shares during the last quarter. Finally, InvesTrust bought a new position in Nucor in the 4th quarter valued at about $4,388,000. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor Trading Down 1.0 %

Shares of Nucor stock opened at $129.51 on Friday. The stock has a fifty day moving average price of $129.42 and a 200-day moving average price of $138.69. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48. The firm has a market cap of $29.86 billion, a PE ratio of 15.40, a P/E/G ratio of 0.96 and a beta of 1.58. Nucor Co. has a 1 year low of $112.25 and a 1 year high of $203.00.

Nucor (NYSE:NUE) last posted its quarterly earnings data 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 prior year, the firm earned $3.16 earnings per share. Equities research analysts anticipate that Nucor Co. will post 7.64 EPS for the current year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be paid a $0.55 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.20 annualized dividend and a yield of 1.70%. Nucor’s payout ratio is 26.16%.

Wall Street Analysts Forecast Growth

NUE has been the subject of a number of recent research reports. Morgan Stanley boosted their price objective on Nucor from $154.00 to $167.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. UBS Group reiterated a “neutral” rating and set a $156.00 price target (down previously from $171.00) on shares of Nucor in a report on Thursday, December 12th. The Goldman Sachs Group assumed coverage on Nucor in a research report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price target for the company. Jefferies Financial Group lifted their price objective on shares of Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of Nucor from $150.00 to $156.00 and gave the company an “overweight” rating in a report on Tuesday. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $164.33.

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.