PGGM Investments Sells 33,427 Shares of Nucor Co. (NYSE:NUE)

PGGM Investments trimmed its holdings in shares of Nucor Co. (NYSE:NUE) by 57.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,186 shares of the basic materials company’s stock after selling 33,427 shares during the quarter. PGGM Investments’ holdings in Nucor were worth $2,939,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in Nucor during the third quarter valued at approximately $26,000. Coastline Trust Co purchased a new stake in Nucor during the 3rd quarter valued at $29,000. Crews Bank & Trust bought a new stake in Nucor in the fourth quarter worth $29,000. New Wave Wealth Advisors LLC purchased a new position in Nucor during the fourth quarter worth $33,000. Finally, Versant Capital Management Inc increased its position in Nucor by 60.3% during the fourth quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 114 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NUE. Morgan Stanley raised their target price on shares of Nucor from $154.00 to $167.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Citigroup dropped 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. The Goldman Sachs Group initiated coverage on Nucor in a research note on Monday, December 2nd. They set a “buy” rating and a $190.00 target price on the stock. JPMorgan Chase & Co. raised their price target on Nucor from $150.00 to $156.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Argus set a $155.00 price objective on Nucor in a research report on Wednesday, March 5th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Nucor has a consensus rating of “Moderate Buy” and an average target price of $164.33.

Nucor Trading Down 1.0 %

Shares of NYSE NUE opened at $129.51 on Friday. 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 $29.86 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58. The business has a fifty day simple moving average of $129.42 and a two-hundred day simple moving average of $138.69. 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 (NYSE:NUE) last released its quarterly earnings data 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 period in the prior year, the company earned $3.16 earnings per share. Analysts expect that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.70%. Nucor’s dividend payout ratio is presently 26.16%.

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.