D.A. Davidson & CO. Reduces Stake in Nucor Co. (NYSE:NUE)

D.A. Davidson & CO. has reduced its holdings in Nucor Co. (NYSE:NUE - Free Report) by 16.9% during the fourth quarter. This information was disclosed in their latest Form 13F filed with the Securities and Exchange Commission. After selling 4,924 shares, D.A. Davidson & CO. now holds 24,215 shares of Nucor, which are valued at approximately $2,826,000 at the conclusion of the latest reporting period.

Institutional Investors Adjust Holdings

Other institutional investors have also made adjustments to their positions in Nucor. For instance, CIBC Asset Management Inc increased its stake by 2.3%, ending up with 35,988 shares valued at $4,200,000 after acquiring an additional 809 shares. Similarly, Principal Financial Group Inc. boosted its position by 10.0%, bringing its total to 314,037 shares worth $36,651,000 after purchasing 28,622 shares. Strategic Advisors LLC expanded its investment by 31.2%, now holding 5,584 shares valued at $652,000 following an addition of 1,329 shares. Meanwhile, Allworth Financial LP increased its stake by an impressive 65.9%, owning 1,375 shares valued at $168,000 after acquiring 546 additional shares. Lastly, Beacon Capital Management LLC grew its position by 29.1%, currently holding 417 shares worth $49,000 after buying an extra 94 shares. It is noteworthy that about 76.48% of Nucor's stock is owned by hedge funds and other institutional investors.

Nucor Stock Performance

Recently, shares of Nucor (NYSE NUE) opened at $135.19. The company is reported to have a debt-to-equity ratio of 0.27, a current ratio of 2.51, and a quick ratio of 1.48. Nucor's market capitalization stands at $31.74 billion. The firm has a P/E ratio of 16.07, a PEG ratio of 0.96, and a beta of 1.60. Over the past year, Nucor's stock has fluctuated between a low of $112.25 and a high of $203.00, with its 50-day and 200-day simple moving averages at $125 and $139.99, respectively.

Recent Earnings Report

Nucor announced its quarterly earnings on January 27th, reporting an earnings per share (EPS) of $1.22, surpassing the consensus estimate of $0.94 by $0.28. The company had a net margin of 6.60% and a return on equity of 9.85%. Comparatively, during the same quarter of the previous year, Nucor's EPS was $3.16. Analysts are forecasting an EPS of 7.64 for the current year for Nucor.

Dividend Announcement

The company has also declared a quarterly dividend that will be disbursed on May 12th to stockholders recorded on March 31st. Shareholders can expect a dividend of $0.55 per share, amounting to an annualized dividend of $2.20, which translates to a yield of 1.63%. The ex-dividend date is also set for March 31st, with a current dividend payout ratio at 26.16%.

Analyst Ratings and Price Targets

Several brokerage firms have recently provided updated ratings for Nucor. Jefferies Financial Group raised its price target from $125.00 to $135.00 and maintained a "hold" rating. Morgan Stanley lowered its price target from $166.00 to $154.00, maintaining an "overweight" rating. UBS Group reiterated a "neutral" rating and set a price target of $156.00, reduced from $171.00. Also, JPMorgan Chase & Co. updated their price target, bringing it down from $152.00 to $150.00 while keeping their "overweight" rating. Additionally, StockNews.com upgraded Nucor from a "sell" to a "hold" rating. Presently, four analysts have issued a hold rating, five have given a buy rating, and one has assigned a strong buy rating, leading to a consensus rating of "Moderate Buy" with an average target price of $163.13.

Nucor Company Overview

Nucor Corporation specializes in the manufacturing and sale of steel and related products. It operates through three segments: steel mills, steel products, and raw materials. The Steel Mills segment is responsible for producing various steel products, including hot-rolled, cold-rolled, and galvanized sheet steel products, along with structural and bar steel products. Nucor also engages in the trading and distribution of steel.

Nucor, D.A.Davidson, Investors