AXQ Capital LP Purchases New Position in Nucor Co. (NYSE:NUE)

AXQ Capital LP purchased a new stake in Nucor Co. (NYSE:NUE) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 7,070 shares of the basic materials company’s stock, valued at approximately $825,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. GSA Capital Partners LLP bought a new stake in Nucor in the 3rd quarter valued at about $239,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Nucor in the 3rd quarter valued at about $1,481,000. Commerce Bank boosted its holdings in Nucor by 4.9% in the 3rd quarter. Commerce Bank now owns 16,344 shares of the basic materials company’s stock valued at $2,457,000 after purchasing an additional 758 shares during the period. Citizens Financial Group Inc. RI boosted its holdings in Nucor by 1.7% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 4,629 shares of the basic materials company’s stock valued at $696,000 after purchasing an additional 79 shares during the period. Finally, Cornerstone Advisors LLC boosted its holdings in Nucor by 26.9% in the 3rd quarter. Cornerstone Advisors LLC now owns 6,600 shares of the basic materials company’s stock valued at $992,000 after purchasing an additional 1,400 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. StockNews.com raised shares of Nucor from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. lifted their price target on Nucor from $150.00 to $156.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. Morgan Stanley lifted their price target on Nucor from $154.00 to $167.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Argus set a $155.00 price target on Nucor in a research note on Wednesday, March 5th. Finally, Citigroup decreased their price target on Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $164.33.

Nucor Stock Down 5.8 %

Shares of NYSE:NUE opened at $122.02 on Friday. The company has a market capitalization of $28.13 billion, a price-to-earnings ratio of 14.51, a P/E/G ratio of 0.96 and a beta of 1.58. 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 business’s 50-day moving average is $130.65 and its 200-day moving average is $137.80. 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 results on Monday, January 27th. The basic materials company reported $1.22 earnings per share 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 prior year, the company posted $3.16 EPS. Equities research analysts predict that Nucor Co. will post 7.64 earnings per share 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. This represents a $2.20 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Monday, March 31st. Nucor’s dividend payout ratio is currently 26.16%.

Nucor 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.