Aigen Investment Management LP Raises Stock Holdings in Nucor Co. (NYSE:NUE)

Aigen Investment Management LP grew its position in Nucor Co. (NYSE:NUE) by 191.4% during the fourth quarter, Holdings Channel reports. The firm owned 22,263 shares of the basic materials company’s stock after acquiring an additional 14,623 shares during the period. Aigen Investment Management LP’s holdings in Nucor were worth $2,598,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Widmann Financial Services Inc. increased its position in Nucor by 4.0% in the 3rd quarter. Widmann Financial Services Inc. now owns 1,800 shares of the basic materials company’s stock valued at $271,000 after acquiring an additional 70 shares during the period. Citizens Financial Group Inc. RI increased its holdings in shares of Nucor by 1.7% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 4,629 shares of the basic materials company’s stock valued at $696,000 after purchasing an additional 79 shares in the last quarter. TCI Wealth Advisors Inc. boosted its holdings in Nucor by 4.4% during the fourth quarter. TCI Wealth Advisors Inc. now owns 2,157 shares of the basic materials company’s stock worth $252,000 after buying an additional 91 shares in the last quarter. Jessup Wealth Management Inc increased its holdings in Nucor by 0.9% in the fourth quarter. Jessup Wealth Management Inc now owns 10,528 shares of the basic materials company’s stock valued at $1,229,000 after buying an additional 93 shares in the last quarter. Finally, Redwood Investment Management LLC increased its stake in Nucor by 1.0% in the 3rd quarter. Redwood Investment Management LLC now owns 9,092 shares of the basic materials company’s stock valued at $1,365,000 after purchasing an additional 94 shares in the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor Trading Down 3.6 %

Shares of NYSE:NUE opened at $129.25 on Wednesday. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average price is $127.45 and its 200 day moving average price is $139.32. The company has a market cap of $30.35 billion, a PE ratio of 15.37, a P/E/G ratio of 0.96 and a beta of 1.60. Nucor Co. has a fifty-two week low of $112.25 and a fifty-two week high of $203.00.

Nucor (NYSE:NUE) last released its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share 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 period in the prior year, the business earned $3.16 earnings per share. Sell-side analysts anticipate that Nucor Co. will post 7.64 earnings per share for the current year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Monday, March 31st. Nucor’s dividend payout ratio is currently 26.16%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on NUE shares. Citigroup cut their price objective on Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. StockNews.com raised Nucor from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. Jefferies Financial Group boosted their price objective on Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group initiated coverage on Nucor in a research note on Monday, December 2nd. They issued a “buy” rating and a $190.00 price target on the stock. Finally, UBS Group reaffirmed a “neutral” rating and issued a $156.00 target price (down from $171.00) on shares of Nucor in a research report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $163.13.

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.