NEOS Investment Management LLC Acquires 2,482 Shares of Nucor Co. (NYSE:NUE)

NEOS Investment Management LLC increased its holdings in Nucor Co. (NYSE:NUE) by 27.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,402 shares of the basic materials company’s stock after acquiring an additional 2,482 shares during the period. NEOS Investment Management LLC’s holdings in Nucor were worth $1,331,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Crews Bank & Trust purchased a new stake in shares of Nucor in the fourth quarter worth approximately $29,000. New Wave Wealth Advisors LLC bought a new stake in Nucor during the fourth quarter worth $33,000. Versant Capital Management Inc raised its position in Nucor by 60.3% in the 4th quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock valued at $35,000 after buying an additional 114 shares during the last quarter. Beacon Capital Management LLC lifted its stake in Nucor by 29.1% during the 4th 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 in the last quarter. Finally, Millstone Evans Group LLC purchased a new position in Nucor during the 4th quarter worth $50,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on NUE shares. JPMorgan Chase & Co. raised their price target on shares of Nucor from $150.00 to $156.00 and gave the company an “overweight” rating in a research report on Tuesday, March 11th. 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. UBS Group raised Nucor from a “neutral” rating to a “buy” rating and increased their price target for the company from $156.00 to $160.00 in a research report on Monday, March 24th. Jefferies Financial Group boosted 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, Argus set a $155.00 price objective on Nucor in a research note on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Nucor has an average rating of “Moderate Buy” and an average price target of $164.44.

Nucor Trading Down 4.4 %

Shares of NUE opened at $121.90 on Friday. The firm has a market cap of $28.10 billion, a P/E ratio of 14.50, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58. Nucor Co. has a fifty-two week low of $112.25 and a fifty-two week high of $203.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51. The business has a 50-day moving average of $130.98 and a 200 day moving average of $137.27.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating 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 company earned $3.16 EPS. As a group, research analysts forecast that Nucor Co. will post 7.64 EPS for the current year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Monday, March 31st. Nucor’s payout ratio is currently 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.