Korea Investment CORP grew its holdings in shares of Nucor Co. (NYSE:NUE) by 667.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,016 shares of the basic materials company’s stock after purchasing an additional 60,020 shares during the period. Korea Investment CORP’s holdings in Nucor were worth $3,576,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. boosted its holdings in shares of Nucor by 65.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 177,419 shares of the basic materials company’s stock valued at $11,232,000 after buying an additional 70,211 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Nucor by 23.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 224,557 shares of the basic materials company’s stock valued at $14,268,000 after buying an additional 41,917 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Nucor by 290.1% in the 3rd quarter. Victory Capital Management Inc. now owns 185,401 shares of the basic materials company’s stock valued at $11,764,000 after buying an additional 137,871 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of Nucor by 66.7% in the 3rd quarter. Private Advisor Group LLC now owns 21,232 shares of the basic materials company’s stock valued at $1,347,000 after buying an additional 8,495 shares during the last quarter. Finally, American Century Companies Inc. acquired a new stake in shares of Nucor in the 3rd quarter valued at approximately $517,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.
NUE stock opened at $58.82 on Friday. The company has a current ratio of 3.08, a quick ratio of 1.45 and a debt-to-equity ratio of 0.41. The firm has a market cap of $18.04 billion, a price-to-earnings ratio of 7.72, a PEG ratio of 0.84 and a beta of 1.51. Nucor Co. has a fifty-two week low of $49.79 and a fifty-two week high of $68.84.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, March 29th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend is Thursday, March 28th. Nucor’s payout ratio is 21.00%.
In other Nucor news, Chairman John J. Ferriola sold 87,719 shares of the stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $60.35, for a total transaction of $5,293,841.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.80% of the stock is owned by company insiders.
Several equities research analysts have recently commented on NUE shares. Credit Suisse Group raised Nucor from a “neutral” rating to an “outperform” rating in a report on Tuesday, January 8th. Cowen began coverage on Nucor in a report on Tuesday, January 8th. They set an “outperform” rating and a $62.00 price target for the company. ValuEngine downgraded Nucor from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. KeyCorp reaffirmed a “buy” rating and set a $72.00 price target on shares of Nucor in a report on Friday, November 30th. Finally, UBS Group set a $59.00 price target on Nucor and gave the company a “hold” rating in a report on Monday, December 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $71.45.
Nucor Company Profile
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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; hollow structural section steel tubing, steel electrical conduit, plate steel, and structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, wire rods, and special bar quality; and tubular and plate steel products.
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