State of Alaska Department of Revenue Sells 6,054 Shares of Nucor Co. (NYSE:NUE)

State of Alaska Department of Revenue lessened its stake in Nucor Co. (NYSE:NUE) by 18.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,775 shares of the basic materials company’s stock after selling 6,054 shares during the period. State of Alaska Department of Revenue’s holdings in Nucor were worth $3,124,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Ashton Thomas Securities LLC purchased a new stake in shares of Nucor in the 3rd quarter worth approximately $26,000. Coastline Trust Co acquired a new position in Nucor during the third quarter worth $29,000. Brown Lisle Cummings Inc. purchased a new stake in shares of Nucor during the third quarter worth approximately $30,000. Salomon & Ludwin LLC lifted its stake in Nucor by 45.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 72 shares in the last quarter. Finally, Crews Bank & Trust purchased a new position in shares of Nucor during the 4th quarter worth $29,000. Institutional investors own 76.48% of the company’s stock.

Nucor Price Performance

Shares of NYSE:NUE opened at $130.18 on Monday. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. Nucor Co. has a 52 week low of $112.25 and a 52 week high of $203.00. The company has a market cap of $30.57 billion, a P/E ratio of 15.48 and a beta of 1.60. The company has a 50-day moving average price of $126.21 and a 200 day moving average price of $141.10.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share 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 business earned $3.16 EPS. Research analysts predict that Nucor Co. will post 7.88 earnings per share for the current year.

Nucor Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Tuesday, December 31st will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Nucor’s previous quarterly dividend of $0.54. Nucor’s dividend payout ratio is currently 26.16%.

Wall Street Analyst Weigh In

NUE has been the subject of a number of research analyst reports. StockNews.com cut Nucor from a “hold” rating to a “sell” rating in a report on Monday, February 3rd. Jefferies Financial Group upped their price target on Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. UBS Group restated a “neutral” rating and issued a $156.00 price objective (down from $171.00) on shares of Nucor in a report on Thursday, December 12th. JPMorgan Chase & Co. dropped their price target on shares of Nucor from $152.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Finally, The Goldman Sachs Group initiated coverage on Nucor in a research report on Monday, December 2nd. They issued a “buy” rating and a $190.00 target price for the company. One analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.13.

About Nucor

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.