CANADA LIFE ASSURANCE Co Sells 46,134 Shares of Nucor Co. (NYSE:NUE)

CANADA LIFE ASSURANCE Co lowered its holdings in shares of Nucor Co. (NYSE:NUE) by 19.2% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 193,869 shares of the basic materials company’s stock after selling 46,134 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Nucor were worth $38,370,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Criterion Capital Advisors LLC acquired a new position in Nucor during the fourth quarter worth about $25,000. Rise Advisors LLC acquired a new position in Nucor during the 1st quarter worth approximately $27,000. Chilton Capital Management LLC increased its position in Nucor by 94.2% during the 1st quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 65 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in Nucor in the 1st quarter valued at approximately $28,000. Finally, Tompkins Financial Corp boosted its position in Nucor by 208.0% in the first quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after buying an additional 104 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NUE shares. StockNews.com cut Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Jefferies Financial Group began coverage on Nucor in a research report on Monday, May 20th. They issued a “hold” rating and a $190.00 target price for the company. Bank of America reduced their price target on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. JPMorgan Chase & Co. dropped their price objective on shares of Nucor from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Tuesday, July 16th. Finally, BMO Capital Markets reduced their target price on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a report on Monday, June 17th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $191.29.

Nucor Trading Up 2.2 %

NUE stock traded up $3.34 during trading on Thursday, hitting $158.13. The company had a trading volume of 679,586 shares, compared to its average volume of 1,473,105. The company has a current ratio of 4.02, a quick ratio of 2.48 and a debt-to-equity ratio of 0.31. Nucor Co. has a one year low of $140.07 and a one year high of $203.00. The business has a 50-day moving average of $161.02 and a 200-day moving average of $175.79. The stock has a market cap of $37.91 billion, a PE ratio of 9.29 and a beta of 1.57.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.37. The company had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $7.69 billion. Nucor had a net margin of 10.45% and a return on equity of 15.68%. Nucor’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same period in the prior year, the company posted $5.81 earnings per share. Research analysts predict that Nucor Co. will post 10.72 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, June 28th will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Friday, June 28th. Nucor’s dividend payout ratio is 12.71%.

About Nucor

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.