Capital Investment Advisors LLC grew its holdings in Nucor Co. (NYSE:NUE - Free Report) by 339.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,157 shares of the basic materials company's stock after acquiring an additional 4,755 shares during the quarter. Capital Investment Advisors LLC's holdings in Nucor were worth $719,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of NUE. State Street Corp increased its holdings in Nucor by 2.9% during the 3rd quarter. State Street Corp now owns 11,427,899 shares of the basic materials company's stock worth $1,724,117,000 after purchasing an additional 326,181 shares in the last quarter. National Pension Service boosted its position in shares of Nucor by 3.2% during the third quarter. National Pension Service now owns 652,502 shares of the basic materials company's stock worth $98,097,000 after buying an additional 20,258 shares during the period. Everence Capital Management Inc. bought a new position in shares of Nucor during the fourth quarter worth about $565,000. BIP Wealth LLC acquired a new stake in Nucor in the 3rd quarter valued at approximately $681,000. Finally, Ascension Asset Management LLC bought a new stake in Nucor in the 2nd quarter valued at approximately $885,000. Institutional investors and hedge funds own 76.48% of the company's stock.
Analyst Upgrades and Downgrades
NUE has been the subject of several research reports. The Goldman Sachs Group initiated coverage on shares of Nucor in a research note on Monday, December 2nd. They set a "buy" rating and a $190.00 price target for the company. Morgan Stanley decreased their target price on shares of Nucor from $170.00 to $166.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. BMO Capital Markets cut their price target on shares of Nucor from $175.00 to $160.00 and set a "market perform" rating on the stock in a research report on Wednesday, September 18th. Jefferies Financial Group decreased their price objective on Nucor from $150.00 to $125.00 and set a "hold" rating for the company in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. dropped their target price on Nucor from $170.00 to $168.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $165.63.
View Our Latest Research Report on NUE
Nucor Price Performance
Shares of Nucor stock traded up $1.33 during midday trading on Wednesday, hitting $123.08. 2,053,582 shares of the company traded hands, compared to its average volume of 2,419,382. The stock has a market cap of $28.90 billion, a price-to-earnings ratio of 11.89 and a beta of 1.60. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59. The firm's fifty day moving average price is $135.85 and its 200-day moving average price is $145.10. Nucor Co. has a 12 month low of $112.25 and a 12 month high of $203.00.
Nucor (NYSE:NUE - Get Free Report) last issued its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.40 by $0.09. The business had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The firm's quarterly revenue was down 15.2% on a year-over-year basis. During the same quarter last year, the business earned $4.57 EPS. As a group, sell-side analysts forecast that Nucor Co. will post 8.48 earnings per share for the current year.
Nucor Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Nucor's previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a yield of 1.79%. Nucor's dividend payout ratio is currently 21.26%.
Insider Activity
In related news, CFO Stephen D. Laxton sold 4,712 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total value of $798,825.36. Following the transaction, the chief financial officer now owns 82,132 shares of the company's stock, valued at approximately $13,923,837.96. This trade represents a 5.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kenneth Rex Query sold 9,000 shares of the business's stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total value of $1,321,200.00. Following the sale, the executive vice president now directly owns 98,770 shares of the company's stock, valued at $14,499,436. This represents a 8.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,680 shares of company stock worth $4,773,724 in the last three months. Company insiders own 0.64% of the company's stock.
About Nucor
(
Free Report)
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.
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