Retirement Systems of Alabama lowered its holdings in shares of Nucor Co. (NYSE:NUE) by 39.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,884 shares of the basic materials company’s stock after selling 94,911 shares during the period. Retirement Systems of Alabama’s holdings in Nucor were worth $7,558,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Janus Henderson Group PLC raised its stake in shares of Nucor by 87.4% in the 2nd quarter. Janus Henderson Group PLC now owns 189,047 shares of the basic materials company’s stock worth $11,815,000 after buying an additional 88,154 shares in the last quarter. Baird Financial Group Inc. raised its stake in shares of Nucor by 17.6% in the 2nd quarter. Baird Financial Group Inc. now owns 15,032 shares of the basic materials company’s stock worth $940,000 after buying an additional 2,251 shares in the last quarter. Laurion Capital Management LP raised its stake in shares of Nucor by 66.2% in the 2nd quarter. Laurion Capital Management LP now owns 12,843 shares of the basic materials company’s stock worth $803,000 after buying an additional 5,116 shares in the last quarter. First Republic Investment Management Inc. raised its stake in shares of Nucor by 62.6% in the 2nd quarter. First Republic Investment Management Inc. now owns 21,281 shares of the basic materials company’s stock worth $1,330,000 after buying an additional 8,193 shares in the last quarter. Finally, Natixis bought a new stake in shares of Nucor in the 2nd quarter worth $3,363,000. 76.49% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NUE stock opened at $56.59 on Monday. Nucor Co. has a 1-year low of $49.79 and a 1-year high of $70.48. The company has a current ratio of 3.15, a quick ratio of 1.69 and a debt-to-equity ratio of 0.42. The firm has a market cap of $17.56 billion, a PE ratio of 16.12, a price-to-earnings-growth ratio of 0.73 and a beta of 1.46.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Thursday, October 18th. The basic materials company reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.35 by ($0.02). Nucor had a net margin of 8.79% and a return on equity of 20.72%. The business had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.64 billion. During the same quarter in the prior year, the firm posted $0.83 EPS. The business’s quarterly revenue was up 30.4% compared to the same quarter last year. On average, equities research analysts anticipate that Nucor Co. will post 7.55 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 11th. Stockholders of record on Monday, December 31st will be issued a dividend of $0.40 per share. This is an increase from Nucor’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, December 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.83%. Nucor’s payout ratio is currently 45.58%.

NUE has been the topic of a number of recent research reports. Credit Suisse Group upgraded Nucor from a “neutral” rating to an “outperform” rating in a report on Tuesday, January 8th. KeyCorp restated a “buy” rating and issued a $72.00 target price on shares of Nucor in a report on Friday, November 30th. UBS Group set a $63.00 target price on Nucor and gave the stock a “hold” rating in a report on Tuesday, November 27th. Deutsche Bank cut Nucor to a “buy” rating in a report on Tuesday, October 2nd. Finally, ValuEngine cut Nucor from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $71.58.

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Nucor Company Profile

Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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; hollow structural section steel tubing, steel electrical conduit, plate steel, and structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, wire rods, and special bar quality; and tubular and plate steel products.

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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