Allspring Global Investments Holdings LLC Has $13.50 Million Position in Nucor Co. (NYSE:NUE)

Allspring Global Investments Holdings LLC lessened its position in Nucor Co. (NYSE:NUE) by 8.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 117,652 shares of the basic materials company’s stock after selling 10,998 shares during the period. Allspring Global Investments Holdings LLC owned about 0.05% of Nucor worth $13,497,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Creative Planning raised its holdings in Nucor by 0.8% during the 3rd quarter. Creative Planning now owns 109,174 shares of the basic materials company’s stock worth $16,413,000 after purchasing an additional 822 shares during the last quarter. Good Life Advisors LLC raised its holdings in Nucor by 13.5% during the 3rd quarter. Good Life Advisors LLC now owns 1,597 shares of the basic materials company’s stock worth $240,000 after purchasing an additional 190 shares during the last quarter. Blue Trust Inc. raised its holdings in Nucor by 58.6% during the 3rd quarter. Blue Trust Inc. now owns 3,197 shares of the basic materials company’s stock worth $505,000 after purchasing an additional 1,181 shares during the last quarter. Veracity Capital LLC raised its holdings in Nucor by 7.5% during the 3rd quarter. Veracity Capital LLC now owns 1,577 shares of the basic materials company’s stock worth $237,000 after purchasing an additional 110 shares during the last quarter. Finally, Brown Lisle Cummings Inc. bought a new stake in shares of Nucor in the 3rd quarter valued at about $30,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Price Performance

Shares of NUE opened at $137.75 on Tuesday. Nucor Co. has a 52-week low of $112.25 and a 52-week high of $203.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51. The business’s 50 day moving average price is $124.89 and its two-hundred day moving average price is $140.18. The firm has a market cap of $32.34 billion, a PE ratio of 16.38 and a beta of 1.60.

Nucor (NYSE:NUE) last issued its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates 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 last year, the business earned $3.16 EPS. On average, equities analysts anticipate that Nucor Co. will post 7.88 EPS for the current year.

Nucor Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.55 per share. This is an increase from Nucor’s previous quarterly dividend of $0.54. The ex-dividend date was Tuesday, December 31st. This represents a $2.20 annualized dividend and a dividend yield of 1.60%. Nucor’s dividend payout ratio is presently 26.16%.

Analysts Set New Price Targets

A number of analysts have recently commented on NUE shares. Jefferies Financial Group upped their price target on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. StockNews.com raised Nucor from a “sell” rating to a “hold” rating in a research note on Wednesday, February 12th. The Goldman Sachs Group initiated coverage on Nucor in a research report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective for the company. Morgan Stanley decreased their price objective on Nucor from $166.00 to $154.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, UBS Group reiterated a “neutral” rating and issued a $156.00 price objective (down from $171.00) on shares of Nucor in a research report on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.