Schonfeld Strategic Advisors LLC Sells 6,980 Shares of Nucor Co. (NYSE:NUE)

Schonfeld Strategic Advisors LLC lowered its stake in shares of Nucor Co. (NYSE:NUE) by 12.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 47,108 shares of the basic materials company’s stock after selling 6,980 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in Nucor were worth $5,498,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NUE. Geode Capital Management LLC increased its stake in shares of Nucor by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 5,967,254 shares of the basic materials company’s stock valued at $701,255,000 after buying an additional 105,309 shares during the period. Norges Bank bought a new position in shares of Nucor during the fourth quarter valued at approximately $398,077,000. Invesco Ltd. raised its stake in Nucor by 18.7% during the fourth quarter. Invesco Ltd. now owns 2,435,265 shares of the basic materials company’s stock valued at $284,220,000 after buying an additional 384,205 shares during the last quarter. First Trust Advisors LP boosted its stake in Nucor by 24.6% in the 4th quarter. First Trust Advisors LP now owns 2,404,477 shares of the basic materials company’s stock worth $280,627,000 after purchasing an additional 474,274 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of Nucor by 25.6% in the fourth quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company’s stock worth $205,282,000 after buying an additional 358,721 shares in the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. The Goldman Sachs Group dropped their price objective on Nucor from $175.00 to $169.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Argus set a $155.00 target price on Nucor in a research report on Wednesday, March 5th. StockNews.com lowered shares of Nucor from a “hold” rating to a “sell” rating in a research report on Wednesday. JPMorgan Chase & Co. lowered their price target on Nucor from $156.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Finally, Morgan Stanley set a $164.00 price target on shares of Nucor in a research note on Monday, March 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $160.33.

Nucor Stock Up 2.7 %

NYSE NUE opened at $122.92 on Friday. The company has a fifty day moving average of $120.78 and a two-hundred day moving average of $130.81. The firm has a market capitalization of $28.34 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 0.96 and a beta of 1.67. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. Nucor Co. has a 52 week low of $97.59 and a 52 week high of $176.59.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, April 28th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15). The business had revenue of $7.83 billion for the quarter, compared to analysts’ expectations of $7.25 billion. Nucor had a net margin of 6.60% and a return on equity of 9.85%. Nucor’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.46 EPS. On average, analysts predict that Nucor Co. will post 7.64 earnings per share for the current year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be paid a $0.55 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.20 annualized dividend and a yield of 1.79%. Nucor’s dividend payout ratio (DPR) is currently 39.15%.

Nucor Company 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.