Commonwealth of Pennsylvania Public School Empls Retrmt SYS Trims Stock Position in Nucor Co. (NYSE:NUE)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its holdings in Nucor Co. (NYSE:NUE) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,928 shares of the basic materials company’s stock after selling 1,738 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Nucor were worth $5,827,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Crews Bank & Trust acquired a new position in shares of Nucor in the 4th quarter valued at $29,000. New Wave Wealth Advisors LLC acquired a new position in shares of Nucor in the 4th quarter valued at $33,000. Versant Capital Management Inc increased its holdings 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 valued at $35,000 after acquiring an additional 114 shares during the period. Beacon Capital Management LLC increased its holdings 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 valued at $49,000 after acquiring an additional 94 shares during the period. Finally, Bank of Jackson Hole Trust acquired a new position in shares of Nucor in the 4th quarter valued at $53,000. 76.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NUE shares. StockNews.com raised shares of Nucor from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. Morgan Stanley boosted their price objective on shares of Nucor from $154.00 to $167.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. UBS Group reissued a “neutral” rating and issued a $156.00 price objective (down from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Argus set a $155.00 price objective on shares of Nucor in a research note on Wednesday, March 5th. Finally, Jefferies Financial Group boosted their price objective on shares of Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $164.33.

Nucor Price Performance

Shares of NYSE NUE opened at $122.02 on Friday. The firm has a market capitalization of $28.13 billion, a P/E ratio of 14.51, a PEG ratio of 0.96 and a beta of 1.58. Nucor Co. has a one year low of $112.25 and a one year high of $203.00. The company’s fifty day moving average is $130.65 and its two-hundred day moving average is $137.75. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51.

Nucor (NYSE:NUE) last issued its earnings results on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, topping the consensus estimate 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 last year, the company posted $3.16 EPS. Analysts forecast that Nucor Co. will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

The business also recently announced 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. 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 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.