Kimelman & Baird LLC Sells 4,550 Shares of Nucor Co. (NYSE:NUE)

Kimelman & Baird LLC cut its holdings in shares of Nucor Co. (NYSE:NUE) by 10.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,550 shares of the basic materials company’s stock after selling 4,550 shares during the period. Kimelman & Baird LLC’s holdings in Nucor were worth $4,382,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in NUE. Pacer Advisors Inc. increased its position in shares of 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 position in Nucor by 25.6% in the 4th 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 in the last quarter. Raymond James Financial Inc. bought a new stake in Nucor in the 4th quarter worth about $38,714,000. State Street Corp grew its position in Nucor by 2.9% in 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 purchasing an additional 326,181 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Nucor in the 3rd quarter worth about $46,731,000. 76.48% of the stock is owned by institutional investors.

Nucor Stock Performance

Shares of NUE stock opened at $132.26 on Monday. The stock has a market capitalization of $30.49 billion, a P/E ratio of 15.73, a PEG ratio of 0.96 and a beta of 1.58. 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 firm’s 50 day moving average is $129.75 and its 200 day moving average is $138.42. Nucor Co. has a 12 month low of $112.25 and a 12 month high of $203.00.

Nucor (NYSE:NUE) last announced its quarterly earnings results 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 net margin of 6.60% and a return on equity of 9.85%. During the same quarter in the previous year, the company posted $3.16 EPS. On average, sell-side analysts anticipate that Nucor Co. will post 7.64 earnings per share for the current year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Monday, March 31st. Nucor’s dividend payout ratio is presently 26.16%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Citigroup reduced their price objective on shares of Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. JPMorgan Chase & Co. boosted their target price on shares of Nucor from $150.00 to $156.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. UBS Group reiterated a “neutral” rating and issued a $156.00 target price (down from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Argus set a $155.00 target price on shares of Nucor in a research note on Wednesday, March 5th. Finally, Morgan Stanley boosted their target price on shares of Nucor from $154.00 to $167.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.