State Farm Mutual Automobile Insurance Co. Has $2.86 Billion Position in Nucor Co. (NYSE:NUE)

State Farm Mutual Automobile Insurance Co. cut its holdings in Nucor Co. (NYSE:NUE) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,496,294 shares of the basic materials company’s stock after selling 65,505 shares during the period. Nucor accounts for approximately 2.6% of State Farm Mutual Automobile Insurance Co.’s portfolio, making the stock its 12th biggest holding. State Farm Mutual Automobile Insurance Co. owned 10.43% of Nucor worth $2,858,962,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Cerity Partners LLC raised its position in Nucor by 52.6% in the 3rd quarter. Cerity Partners LLC now owns 19,985 shares of the basic materials company’s stock valued at $3,005,000 after purchasing an additional 6,885 shares during the last quarter. Townsquare Capital LLC increased its stake in shares of Nucor by 5.8% in the 3rd quarter. Townsquare Capital LLC now owns 4,622 shares of the basic materials company’s stock valued at $695,000 after buying an additional 255 shares during the period. CreativeOne Wealth LLC lifted its position in Nucor by 24.3% during the 3rd quarter. CreativeOne Wealth LLC now owns 8,017 shares of the basic materials company’s stock valued at $1,205,000 after purchasing an additional 1,567 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Nucor by 5.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,478,917 shares of the basic materials company’s stock valued at $222,340,000 after buying an additional 80,757 shares during the period. Finally, Public Sector Pension Investment Board boosted its stake in Nucor by 9.9% in the third quarter. Public Sector Pension Investment Board now owns 10,000 shares of the basic materials company’s stock valued at $1,503,000 after acquiring an additional 900 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Trading Down 4.4 %

Shares of NUE stock opened at $121.90 on Friday. 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 firm has a market cap of $28.10 billion, a P/E ratio of 14.50, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58. The business has a 50-day moving average price of $130.98 and a two-hundred day moving average price of $137.29. Nucor Co. has a 12-month low of $112.25 and a 12-month high of $203.00.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.28. Nucor had a net margin of 6.60% and a return on equity of 9.85%. During the same quarter in the prior year, the company posted $3.16 EPS. Equities analysts anticipate that Nucor Co. will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Monday, March 31st. Nucor’s payout ratio is 26.16%.

Analyst Ratings Changes

NUE has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their price target on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Morgan Stanley set a $164.00 target price on Nucor in a research report on Monday. Argus set a $155.00 price objective on shares of Nucor in a research note on Wednesday, March 5th. UBS Group raised 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. Finally, The Goldman Sachs Group started coverage on Nucor in a research note on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective on the stock. Three equities research 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $164.44.

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.