Allianz SE Acquires Shares of 2,920 Nucor Co. (NYSE:NUE)

Allianz SE bought a new position in Nucor Co. (NYSE:NUE) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,920 shares of the basic materials company’s stock, valued at approximately $338,000.

Several other institutional investors and hedge funds have also recently modified their holdings of NUE. Crews Bank & Trust purchased a new stake in Nucor during the 4th quarter valued at about $29,000. New Wave Wealth Advisors LLC bought a new position in shares of Nucor in the 4th quarter worth approximately $33,000. Versant Capital Management Inc boosted 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 worth $35,000 after buying an additional 114 shares during the last quarter. Beacon Capital Management LLC grew its position in Nucor by 29.1% during the fourth quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company’s stock valued at $49,000 after buying an additional 94 shares during the period. Finally, Millstone Evans Group LLC purchased a new stake in Nucor during the fourth quarter valued at approximately $50,000. 76.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on NUE shares. Jefferies Financial Group upped 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. UBS Group upgraded Nucor from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $156.00 to $160.00 in a research note on Monday, March 24th. JPMorgan Chase & Co. raised their target price on shares of Nucor from $150.00 to $156.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Argus set a $155.00 price target on shares of Nucor in a research report on Wednesday, March 5th. Finally, Citigroup reduced their price objective 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. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $164.44.

Nucor Trading Down 4.4 %

Shares of NUE stock opened at $121.90 on Monday. The stock’s 50-day moving average price is $130.98 and its 200-day moving average price is $137.27. Nucor Co. has a 12-month low of $112.25 and a 12-month high of $203.00. The stock has a market capitalization of $28.10 billion, a price-to-earnings ratio of 14.50, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58. 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 issued its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping 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 quarter in the previous year, the business posted $3.16 EPS. Equities research analysts predict that Nucor Co. will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

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