New Mexico Educational Retirement Board Has $1.32 Million Stake in Nucor Co. (NYSE:NUE)

New Mexico Educational Retirement Board reduced its position in shares of Nucor Co. (NYSE:NUE) by 3.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,309 shares of the basic materials company’s stock after selling 400 shares during the period. New Mexico Educational Retirement Board’s holdings in Nucor were worth $1,320,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp boosted its position in Nucor by 2.9% during the third quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock worth $1,724,117,000 after purchasing an additional 326,181 shares during the period. Geode Capital Management LLC raised its stake in Nucor by 1.3% during the third quarter. Geode Capital Management LLC now owns 5,861,945 shares of the basic materials company’s stock worth $883,732,000 after acquiring an additional 74,569 shares in the last quarter. Pacer Advisors Inc. raised its stake in Nucor by 19.8% during the third quarter. Pacer Advisors Inc. now owns 3,456,484 shares of the basic materials company’s stock worth $519,648,000 after acquiring an additional 571,682 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Nucor by 25.6% during the fourth quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company’s stock worth $205,282,000 after purchasing an additional 358,721 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Nucor by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,612,216 shares of the basic materials company’s stock worth $242,381,000 after purchasing an additional 45,467 shares during the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor Trading Up 1.6 %

Nucor stock opened at $137.75 on Tuesday. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. The business’s fifty day simple moving average is $124.89 and its two-hundred day simple moving average is $140.18. Nucor Co. has a 12 month low of $112.25 and a 12 month high of $203.00. The company has a market capitalization of $32.34 billion, a price-to-earnings ratio of 16.38 and a beta of 1.60.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, beating 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 previous year, the firm earned $3.16 earnings per share. As a group, equities analysts predict that Nucor Co. will post 7.88 earnings per share for the current fiscal year.

Nucor Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 11th. Investors of record on Tuesday, December 31st were paid a dividend of $0.55 per share. The ex-dividend date was Tuesday, December 31st. This is a positive change from Nucor’s previous quarterly dividend of $0.54. This represents a $2.20 dividend on an annualized basis and a yield of 1.60%. Nucor’s dividend payout ratio is presently 26.16%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NUE shares. StockNews.com upgraded Nucor from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. Jefferies Financial Group upped their target price on Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Morgan Stanley lowered their price target on Nucor from $166.00 to $154.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. JPMorgan Chase & Co. lowered their price target on Nucor from $152.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Finally, The Goldman Sachs Group began coverage on Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 target price for the company. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $163.13.

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.