Federated Hermes Inc. Has $9.17 Million Holdings in Nucor Co. (NYSE:NUE)

Federated Hermes Inc. decreased its position in Nucor Co. (NYSE:NUE) by 30.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 78,536 shares of the basic materials company’s stock after selling 34,085 shares during the period. Federated Hermes Inc.’s holdings in Nucor were worth $9,166,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Ilmarinen Mutual Pension Insurance Co boosted its position in shares of Nucor by 53.8% during the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 20,000 shares of the basic materials company’s stock valued at $2,334,000 after purchasing an additional 7,000 shares in the last quarter. Aviva PLC boosted its holdings in shares of Nucor by 164.9% during the 4th quarter. Aviva PLC now owns 143,060 shares of the basic materials company’s stock worth $16,697,000 after buying an additional 89,059 shares in the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in shares of Nucor during the 4th quarter worth approximately $10,213,000. Smith Moore & CO. increased its stake in shares of Nucor by 29.1% in the 4th quarter. Smith Moore & CO. now owns 1,845 shares of the basic materials company’s stock valued at $215,000 after acquiring an additional 416 shares in the last quarter. Finally, Unison Advisors LLC lifted its position in shares of Nucor by 0.3% during the 4th quarter. Unison Advisors LLC now owns 42,252 shares of the basic materials company’s stock valued at $4,954,000 after acquiring an additional 147 shares during the period. Institutional investors own 76.48% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Citigroup decreased their price target on shares of Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. JPMorgan Chase & Co. upped their price target on Nucor from $150.00 to $156.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Morgan Stanley set a $164.00 price objective on Nucor in a research note on Monday, March 24th. Argus set a $155.00 target price on Nucor in a research report on Wednesday, March 5th. Finally, Jefferies Financial Group lifted their price target on shares of Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $162.11.

Nucor Price Performance

Shares of NYSE:NUE opened at $109.47 on Friday. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. The stock has a market cap of $25.24 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 0.96 and a beta of 1.67. The stock’s fifty day simple moving average is $127.93 and its two-hundred day simple moving average is $134.82. Nucor Co. has a 1-year low of $97.59 and a 1-year high of $199.15.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share 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 EPS. As a group, analysts forecast that Nucor Co. will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Monday, March 31st. Nucor’s dividend payout ratio is presently 26.16%.

Nucor Profile

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.