Nucor Co. (NYSE:NUE) Shares Sold by Front Street Capital Management Inc.

Front Street Capital Management Inc. lessened its position in shares of Nucor Co. (NYSE:NUE - Free Report) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 98,150 shares of the basic materials company's stock after selling 3,081 shares during the quarter. Nucor accounts for 2.0% of Front Street Capital Management Inc.'s portfolio, making the stock its 16th biggest holding. Front Street Capital Management Inc.'s holdings in Nucor were worth $11,455,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of NUE. Crews Bank & Trust bought a new stake in Nucor during the 4th quarter worth approximately $29,000. New Wave Wealth Advisors LLC purchased a new stake in Nucor in the 4th quarter worth $33,000. Versant Capital Management Inc raised its holdings in Nucor by 60.3% during the fourth quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company's stock valued at $35,000 after acquiring an additional 114 shares during the period. Beacon Capital Management LLC boosted its stake in shares of Nucor by 29.1% in the fourth quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company's stock worth $49,000 after acquiring an additional 94 shares during the period. Finally, Millstone Evans Group LLC purchased a new stake in shares of Nucor during the fourth quarter worth about $50,000. Institutional investors own 76.48% of the company's stock.

Nucor Price Performance

NUE traded up $3.01 during midday trading on Wednesday, hitting $112.63. 942,414 shares of the company traded hands, compared to its average volume of 2,068,841. The company has a market capitalization of $25.97 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 0.96 and a beta of 1.67. Nucor Co. has a 52-week low of $97.59 and a 52-week high of $183.95. The business has a 50 day simple moving average of $124.07 and a two-hundred day simple moving average of $132.55. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) 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 in the prior year, the business posted $3.16 earnings per share. On average, equities analysts forecast that Nucor Co. will post 7.64 earnings per share for the current fiscal 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 given a $0.55 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.20 dividend on an annualized basis and a yield of 1.95%. Nucor's dividend payout ratio (DPR) is 26.16%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Nucor from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. The Goldman Sachs Group cut their target price on Nucor from $175.00 to $169.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. JPMorgan Chase & Co. lowered their price target on Nucor from $156.00 to $140.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Morgan Stanley set a $164.00 price objective on Nucor in a report on Monday, March 24th. Finally, Jefferies Financial Group increased their price target on Nucor from $125.00 to $135.00 and gave the stock a "hold" rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $160.33.

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.