Gulf International Bank UK Ltd Buys 89 Shares of Nucor Co. (NYSE:NUE)

Gulf International Bank UK Ltd lifted its stake in Nucor Co. (NYSE:NUE) by 0.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,549 shares of the basic materials company’s stock after buying an additional 89 shares during the period. Gulf International Bank UK Ltd’s holdings in Nucor were worth $4,264,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Compagnie Lombard Odier SCmA purchased a new position in Nucor in the 4th quarter worth approximately $3,481,000. Newbridge Financial Services Group Inc. raised its holdings in Nucor by 94.2% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,855 shares of the basic materials company’s stock valued at $323,000 after buying an additional 900 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Nucor by 6.1% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 262,385 shares of the basic materials company’s stock valued at $45,665,000 after buying an additional 15,058 shares during the last quarter. AIA Group Ltd boosted its position in Nucor by 53.2% during the 4th quarter. AIA Group Ltd now owns 13,226 shares of the basic materials company’s stock valued at $2,302,000 after buying an additional 4,592 shares during the period. Finally, Sapient Capital LLC bought a new stake in Nucor in the 4th quarter worth $1,230,000. Institutional investors own 76.48% of the company’s stock.

Nucor Price Performance

Shares of NUE stock opened at $157.58 on Friday. The business’s fifty day moving average is $170.20 and its 200 day moving average is $178.08. The company has a quick ratio of 2.48, a current ratio of 4.02 and a debt-to-equity ratio of 0.31. The stock has a market cap of $37.78 billion, a price-to-earnings ratio of 9.27 and a beta of 1.60. Nucor Co. has a twelve month low of $140.07 and a twelve month high of $203.00.

Nucor (NYSE:NUE) last released its earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). Nucor had a return on equity of 19.62% and a net margin of 12.40%. The business had revenue of $8.14 billion during the quarter, compared to analysts’ expectations of $8.26 billion. During the same period in the prior year, the company earned $4.45 earnings per share. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. Research analysts expect that Nucor Co. will post 11.07 EPS for the current fiscal year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, June 28th will be given a $0.54 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.37%. Nucor’s dividend payout ratio is currently 12.71%.

Analyst Ratings Changes

NUE has been the subject of several recent analyst reports. BMO Capital Markets lowered their price objective on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a research note on Monday, June 17th. JPMorgan Chase & Co. cut their price objective on Nucor from $190.00 to $180.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 11th. StockNews.com cut Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Citigroup raised Nucor from a “neutral” rating to a “buy” rating and raised their price target for the stock from $180.00 to $240.00 in a research note on Wednesday, March 13th. Finally, Jefferies Financial Group began coverage on shares of Nucor in a research report on Monday, May 20th. They set a “hold” rating and a $190.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $188.38.

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.