Retirement Systems of Alabama Lowers Stake in Nucor Co. (NYSE:NUE)

Retirement Systems of Alabama lowered its position in shares of Nucor Co. (NYSE:NUE) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 50,839 shares of the basic materials company’s stock after selling 698 shares during the quarter. Retirement Systems of Alabama’s holdings in Nucor were worth $5,933,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. Rockline Wealth Management LLC raised its stake in Nucor by 2.1% during the fourth quarter. Rockline Wealth Management LLC now owns 22,878 shares of the basic materials company’s stock worth $2,670,000 after purchasing an additional 460 shares during the period. Columbus Macro LLC grew its position in Nucor by 246.3% during the fourth quarter. Columbus Macro LLC now owns 29,031 shares of the basic materials company’s stock valued at $3,388,000 after acquiring an additional 20,648 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Nucor by 6.0% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,521 shares of the basic materials company’s stock worth $878,000 after purchasing an additional 429 shares during the period. OFC Financial Planning LLC purchased a new stake in shares of Nucor during the 4th quarter worth about $878,000. Finally, Heck Capital Advisors LLC acquired a new stake in Nucor during the 4th quarter worth approximately $121,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Stock Down 2.3 %

NUE stock opened at $130.18 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48. The company has a 50-day moving average of $126.21 and a two-hundred day moving average of $141.10. The stock has a market capitalization of $30.57 billion, a price-to-earnings ratio of 15.48 and a beta of 1.60. Nucor Co. has a 52-week low of $112.25 and a 52-week high of $203.00.

Nucor (NYSE:NUE) last announced its quarterly earnings data 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 last year, the company earned $3.16 earnings per share. As a group, equities research analysts anticipate that Nucor Co. will post 7.88 EPS for the current year.

Nucor Increases Dividend

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

Analyst Ratings Changes

NUE has been the subject of several recent research reports. StockNews.com lowered shares of Nucor from a “hold” rating to a “sell” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. reduced their price objective on Nucor from $152.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. The Goldman Sachs Group began coverage on Nucor in a report on Monday, December 2nd. They set a “buy” rating and a $190.00 target price on the stock. Citigroup decreased their price target on Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, Morgan Stanley reduced their target price on shares of Nucor from $166.00 to $154.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.