KLP Kapitalforvaltning AS Takes $15.35 Million Position in Nucor Co. (NYSE:NUE)

KLP Kapitalforvaltning AS purchased a new stake in Nucor Co. (NYSE:NUE) during the fourth quarter, Holdings Channel.com reports. The firm purchased 131,020 shares of the basic materials company’s stock, valued at approximately $15,353,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Crews Bank & Trust acquired a new stake in shares of Nucor in the 4th quarter worth $29,000. New Wave Wealth Advisors LLC acquired a new stake in shares of Nucor in the 4th quarter worth $33,000. Versant Capital Management Inc boosted its position in shares of Nucor by 60.3% in the 4th quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 114 shares in the last quarter. Beacon Capital Management LLC boosted its position in shares of Nucor by 29.1% in the 4th quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 94 shares in the last quarter. Finally, Millstone Evans Group LLC acquired a new stake in shares of Nucor in the 4th quarter worth $50,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Stock Performance

Shares of NUE stock opened at $122.02 on Monday. The stock has a market cap of $28.13 billion, a PE ratio of 14.51, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58. The business has a 50-day simple moving average of $130.65 and a 200-day simple moving average of $137.72. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. 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 data on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate 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 in the previous year, the firm posted $3.16 earnings per share. On average, equities analysts expect that Nucor Co. will post 7.64 EPS for the current year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be issued a $0.55 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.20 annualized dividend and a dividend yield of 1.80%. Nucor’s dividend payout ratio (DPR) is presently 26.16%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NUE shares. The Goldman Sachs Group started coverage on Nucor in a research report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective for the company. Citigroup lowered their price target on Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Morgan Stanley lifted their price target on Nucor from $154.00 to $167.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. JPMorgan Chase & Co. lifted their price target on Nucor from $150.00 to $156.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 11th. Finally, Argus set a $155.00 price target on Nucor in a research report on Wednesday, March 5th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company 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.