Dark Forest Capital Management LP Has $567,000 Stock Position in Nucor Co. (NYSE:NUE)

Dark Forest Capital Management LP cut its stake in shares of Nucor Co. (NYSE:NUE) by 66.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,855 shares of the basic materials company’s stock after selling 9,790 shares during the quarter. Dark Forest Capital Management LP’s holdings in Nucor were worth $567,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Crews Bank & Trust bought a new stake in Nucor during the 4th quarter valued at $29,000. New Wave Wealth Advisors LLC bought a new position in shares of Nucor during the fourth quarter valued at about $33,000. Versant Capital Management Inc lifted its position in shares of Nucor by 60.3% during the 4th quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock worth $35,000 after buying an additional 114 shares in the last quarter. Beacon Capital Management LLC boosted its position in Nucor by 29.1% in the fourth quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 94 shares during the last quarter. Finally, Millstone Evans Group LLC bought a new position in Nucor in the 4th quarter valued at $50,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Price Performance

Nucor stock opened at $115.70 on Friday. The firm has a market capitalization of $26.67 billion, a P/E ratio of 13.76, a PEG ratio of 0.96 and a beta of 1.67. Nucor Co. has a one year low of $97.59 and a one year high of $176.83. 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 business has a fifty day moving average price of $122.58 and a 200-day moving average price of $131.93.

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 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 previous year, the firm earned $3.16 EPS. As a group, equities research analysts forecast that Nucor Co. will post 7.64 EPS for the current year.

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be given a dividend of $0.55 per share. The ex-dividend date is Monday, March 31st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.90%. Nucor’s dividend payout ratio (DPR) is currently 26.16%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on NUE shares. Morgan Stanley set a $164.00 target price on Nucor in a research note on Monday, March 24th. Argus set a $155.00 target price on shares of Nucor in a research note on Wednesday, March 5th. JPMorgan Chase & Co. reduced their target price on shares of Nucor from $156.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. UBS Group upgraded Nucor from a “neutral” rating to a “buy” rating and upped their price objective for the company from $156.00 to $160.00 in a research note on Monday, March 24th. Finally, StockNews.com raised Nucor from a “sell” rating to a “hold” rating in a research report on Friday, April 18th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $160.33.

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.