Northern Trust Corp Has $389.04 Million Stock Position in Nucor Co. (NYSE:NUE)

Northern Trust Corp decreased its holdings in shares of Nucor Co. (NYSE:NUE - Free Report) by 4.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,333,344 shares of the basic materials company's stock after selling 149,602 shares during the quarter. Northern Trust Corp owned approximately 1.42% of Nucor worth $389,035,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Canal Capital Management LLC boosted its stake in shares of Nucor by 2.5% during the 4th quarter. Canal Capital Management LLC now owns 3,075 shares of the basic materials company's stock worth $359,000 after buying an additional 75 shares during the last quarter. Horrell Capital Management Inc. boosted its position in Nucor by 0.3% during the fourth quarter. Horrell Capital Management Inc. now owns 26,657 shares of the basic materials company's stock valued at $3,111,000 after purchasing an additional 76 shares during the last quarter. TCI Wealth Advisors Inc. grew its stake in Nucor by 4.4% in the fourth quarter. TCI Wealth Advisors Inc. now owns 2,157 shares of the basic materials company's stock valued at $252,000 after purchasing an additional 91 shares in the last quarter. Jessup Wealth Management Inc increased its position in shares of Nucor by 0.9% during the 4th quarter. Jessup Wealth Management Inc now owns 10,528 shares of the basic materials company's stock worth $1,229,000 after purchasing an additional 93 shares during the last quarter. Finally, Beacon Capital Management LLC raised its stake in shares of Nucor by 29.1% during the 4th quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company's stock worth $49,000 after purchasing an additional 94 shares in the last quarter. Institutional investors own 76.48% of the company's stock.

Nucor Stock Performance

NYSE:NUE traded up $3.20 during mid-day trading on Friday, hitting $122.92. 2,084,591 shares of the stock were exchanged, compared to its average volume of 2,076,827. 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 firm's 50-day simple moving average is $120.78 and its 200 day simple moving average is $130.81. Nucor Co. has a fifty-two week low of $97.59 and a fifty-two week high of $176.59. The stock has a market capitalization of $28.34 billion, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 0.96 and a beta of 1.67.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The basic materials company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.15). Nucor had a net margin of 6.60% and a return on equity of 9.85%. The business had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.25 billion. During the same quarter last year, the company posted $3.46 earnings per share. The company's revenue was down 3.8% on a year-over-year basis. As a group, equities analysts anticipate that Nucor Co. will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Monday, March 31st. Nucor's payout ratio is presently 39.15%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Jefferies Financial Group raised their target price on shares of Nucor from $125.00 to $135.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. StockNews.com lowered shares of Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday. UBS Group upgraded shares of Nucor from a "neutral" rating to a "buy" rating and raised their target price for the company from $156.00 to $160.00 in a research note on Monday, March 24th. The Goldman Sachs Group reduced their price target on Nucor from $175.00 to $169.00 and set a "buy" rating for the company in a report on Monday, April 7th. Finally, Argus set a $155.00 price objective on Nucor in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $160.33.

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.