Arjuna Capital Purchases 312 Shares of Nucor Co. (NYSE:NUE)

Arjuna Capital boosted its position in Nucor Co. (NYSE:NUE) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,772 shares of the basic materials company’s stock after acquiring an additional 312 shares during the period. Arjuna Capital’s holdings in Nucor were worth $2,891,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of NUE. Farther Finance Advisors LLC raised its position in Nucor by 5.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,009 shares of the basic materials company’s stock valued at $302,000 after purchasing an additional 100 shares during the last quarter. Trinity Legacy Partners LLC purchased a new position in shares of Nucor during the third quarter valued at approximately $2,625,000. Stiles Financial Services Inc raised its holdings in shares of Nucor by 59.1% during the third quarter. Stiles Financial Services Inc now owns 3,655 shares of the basic materials company’s stock valued at $550,000 after acquiring an additional 1,358 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc lifted its stake in Nucor by 1.1% in the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 139,462 shares of the basic materials company’s stock worth $20,957,000 after acquiring an additional 1,530 shares during the period. Finally, CWA Asset Management Group LLC bought a new stake in Nucor in the third quarter valued at $333,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Wall Street Analysts Forecast Growth

NUE has been the subject of several research reports. Jefferies Financial Group upped their price objective on shares of Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. The Goldman Sachs Group started coverage on shares of Nucor in a research note on Monday, December 2nd. They issued a “buy” rating and a $190.00 price target for the company. StockNews.com raised Nucor from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. Citigroup decreased their target price on Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, Morgan Stanley lifted their price target on Nucor from $154.00 to $167.00 and gave the company an “overweight” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $164.75.

Nucor Stock Up 1.4 %

NUE stock opened at $133.79 on Friday. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The business has a 50 day moving average of $128.34 and a 200 day moving average of $139.15. Nucor Co. has a twelve month low of $112.25 and a twelve month high of $203.00. The firm has a market cap of $30.84 billion, a PE ratio of 15.91, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.28. Nucor had a return on equity of 9.85% and a net margin of 6.60%. During the same quarter in the prior year, the firm earned $3.16 earnings per share. On average, research analysts forecast that Nucor Co. will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be paid a $0.55 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.20 annualized dividend and a dividend yield of 1.64%. Nucor’s dividend payout ratio is presently 26.16%.

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.