New York Life Investment Management LLC Has $4.09 Million Holdings in Nucor Co. (NYSE:NUE)

New York Life Investment Management LLC trimmed its holdings in shares of Nucor Co. (NYSE:NUE) by 0.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,036 shares of the basic materials company’s stock after selling 254 shares during the period. New York Life Investment Management LLC’s holdings in Nucor were worth $4,089,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Ashton Thomas Securities LLC acquired a new stake in shares of Nucor in the third quarter valued at $26,000. Coastline Trust Co bought a new stake in Nucor during the 3rd quarter worth about $29,000. Crews Bank & Trust acquired a new stake in Nucor in the 4th quarter valued at about $29,000. New Wave Wealth Advisors LLC bought a new position in shares of Nucor in the fourth quarter worth about $33,000. Finally, Versant Capital Management Inc lifted its position in shares of Nucor by 60.3% during the fourth 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. Institutional investors own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

NUE has been the subject of several research analyst reports. StockNews.com upgraded shares of Nucor from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. UBS Group restated a “neutral” rating and set a $156.00 target price (down previously from $171.00) on shares of Nucor in a research report on Thursday, December 12th. Morgan Stanley cut their price target on Nucor from $166.00 to $154.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Jefferies Financial Group lifted their price objective on Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Finally, The Goldman Sachs Group assumed coverage on shares of Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 target price on the stock. Four investment 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 MarketBeat.com, Nucor presently has a consensus rating of “Moderate Buy” and an average price target of $163.13.

Nucor Stock Performance

Shares of NUE stock opened at $137.52 on Friday. The stock has a market cap of $32.29 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 0.96 and a beta of 1.60. The stock has a 50-day moving average of $126.86 and a 200-day moving average of $139.53. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48. Nucor Co. has a one year low of $112.25 and a one year high of $203.00.

Nucor (NYSE:NUE) last posted its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share 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 period last year, the firm earned $3.16 EPS. As a group, sell-side analysts expect that Nucor Co. will post 7.64 earnings per share for the current year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be issued 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 1.60%. Nucor’s dividend payout ratio is presently 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.