Lazard Asset Management LLC Buys 28,466 Shares of Nucor Co. (NYSE:NUE)

Lazard Asset Management LLC raised its holdings in shares of Nucor Co. (NYSE:NUE) by 18.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 181,500 shares of the basic materials company’s stock after purchasing an additional 28,466 shares during the period. Lazard Asset Management LLC owned approximately 0.08% of Nucor worth $35,918,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Criterion Capital Advisors LLC purchased a new position in shares of Nucor in the 4th quarter worth $25,000. Rise Advisors LLC bought a new stake in Nucor during the first quarter valued at about $27,000. Chilton Capital Management LLC raised its holdings in Nucor by 94.2% during the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 65 shares during the period. Central Pacific Bank Trust Division bought a new stake in Nucor during the first quarter valued at about $28,000. Finally, Tompkins Financial Corp raised its holdings in Nucor by 208.0% during the first quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 104 shares during the period. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NUE has been the topic of a number of recent analyst reports. BMO Capital Markets decreased their price target on Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a report on Monday, June 17th. Jefferies Financial Group began coverage on Nucor in a report on Monday, May 20th. They set a “hold” rating and a $190.00 price target on the stock. JPMorgan Chase & Co. reduced their target price on Nucor from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Tuesday, July 16th. StockNews.com cut Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Finally, Bank of America reduced their target price on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $191.29.

Nucor Trading Up 2.5 %

NYSE NUE traded up $3.87 during trading hours on Friday, hitting $160.89. 1,252,823 shares of the company were exchanged, compared to its average volume of 1,532,657. The stock has a 50-day moving average price of $160.47 and a 200 day moving average price of $175.64. The company has a quick ratio of 2.48, a current ratio of 2.93 and a debt-to-equity ratio of 0.26. Nucor Co. has a 52 week low of $140.07 and a 52 week high of $203.00. The stock has a market cap of $38.57 billion, a PE ratio of 9.46 and a beta of 1.57.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.37. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The company had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $7.69 billion. During the same period in the previous year, the firm posted $5.81 earnings per share. The firm’s revenue for the quarter was down 15.2% on a year-over-year basis. Analysts forecast that Nucor Co. will post 10.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.16 annualized dividend and a yield of 1.34%. Nucor’s payout ratio is currently 12.71%.

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.