Royal London Asset Management Ltd. Reduces Stake in Nucor Co. (NYSE:NUE)

Royal London Asset Management Ltd. lowered its position in Nucor Co. (NYSE:NUE) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 99,105 shares of the basic materials company’s stock after selling 265 shares during the period. Royal London Asset Management Ltd.’s holdings in Nucor were worth $11,567,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of NUE. Crews Bank & Trust purchased a new stake in Nucor in the fourth quarter valued at approximately $29,000. New Wave Wealth Advisors LLC acquired a new position in Nucor in the fourth quarter valued at approximately $33,000. Versant Capital Management Inc lifted its holdings in Nucor by 60.3% in the fourth 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 lifted its holdings in Nucor by 29.1% in the fourth 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 Nucor in the fourth quarter valued at approximately $53,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Stock Down 5.8 %

Shares of NUE opened at $122.02 on Friday. 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 Co. has a one year low of $112.25 and a one year high of $203.00. The stock has a market capitalization of $28.13 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 0.96 and a beta of 1.58. The stock has a 50 day moving average price of $130.65 and a 200 day moving average price of $137.75.

Nucor (NYSE:NUE) last issued its quarterly 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 return on equity of 9.85% and a net margin of 6.60%. During the same quarter in the previous year, the business earned $3.16 earnings per share. Equities research analysts forecast that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Monday, March 31st. Nucor’s payout ratio is 26.16%.

Analysts Set New Price Targets

A number of research analysts have issued reports on NUE shares. StockNews.com raised Nucor from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. boosted their price target on Nucor from $150.00 to $156.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. Argus set a $155.00 price target on Nucor in a report on Wednesday, March 5th. Morgan Stanley upped their target price on Nucor from $154.00 to $167.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Finally, 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 note on Wednesday, January 29th. 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. According to data from MarketBeat.com, Nucor currently has an average rating of “Moderate Buy” and an average price target of $164.33.

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.