Huntington National Bank Has $6.40 Million Stock Position in Nucor Co. (NYSE:NUE)

Huntington National Bank cut its holdings in Nucor Co. (NYSE:NUE) by 5.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,835 shares of the basic materials company’s stock after selling 3,354 shares during the period. Huntington National Bank’s holdings in Nucor were worth $6,400,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its stake in shares of Nucor by 2.9% during the 3rd quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock worth $1,724,117,000 after acquiring an additional 326,181 shares in the last quarter. Everence Capital Management Inc. bought a new stake in Nucor during the fourth quarter worth approximately $565,000. Geode Capital Management LLC grew its holdings 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 valued at $883,732,000 after purchasing an additional 74,569 shares during the last quarter. InvesTrust acquired a new stake in shares of Nucor in the fourth quarter worth $4,388,000. Finally, Wellington Management Group LLP boosted its holdings in shares of Nucor by 15.8% during the 3rd quarter. Wellington Management Group LLP now owns 249,984 shares of the basic materials company’s stock worth $37,583,000 after buying an additional 34,149 shares during the period. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor Trading Up 3.0 %

Shares of NUE stock opened at $123.29 on Thursday. The firm has a fifty day moving average of $130.82 and a 200-day moving average of $136.86. The stock has a market cap of $28.42 billion, a price-to-earnings ratio of 14.66, a P/E/G ratio of 0.96 and a beta of 1.58. Nucor Co. has a 52-week low of $112.25 and a 52-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.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the business earned $3.16 earnings per share. On average, equities research analysts forecast that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.55 per share. The ex-dividend date is Monday, March 31st. This represents a $2.20 annualized dividend and a yield of 1.78%. Nucor’s dividend payout ratio is currently 26.16%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Nucor from $150.00 to $156.00 and gave the stock an “overweight” rating in a report on Tuesday, March 11th. StockNews.com raised Nucor from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. Argus set a $155.00 target price on Nucor in a report on Wednesday, March 5th. UBS Group upgraded Nucor from a “neutral” rating to a “buy” rating and upped their price target for the stock from $156.00 to $160.00 in a report on Monday, March 24th. Finally, Jefferies Financial Group raised their price objective on shares of Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $164.44.

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.