Janney Montgomery Scott LLC Sells 191 Shares of Nucor Co. (NYSE:NUE)

Janney Montgomery Scott LLC cut its stake in Nucor Co. (NYSE:NUEFree Report) by 0.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 128,347 shares of the basic materials company’s stock after selling 191 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Nucor were worth $14,979,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of NUE. Renaissance Technologies LLC grew its stake in Nucor by 4.3% in the 2nd quarter. Renaissance Technologies LLC now owns 9,700 shares of the basic materials company’s stock worth $1,533,000 after buying an additional 400 shares in the last quarter. Sei Investments Co. grew its stake in shares of Nucor by 91.4% in the second quarter. Sei Investments Co. now owns 55,770 shares of the basic materials company’s stock worth $8,816,000 after purchasing an additional 26,638 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in shares of Nucor by 64.7% during the second quarter. Public Sector Pension Investment Board now owns 9,100 shares of the basic materials company’s stock valued at $1,439,000 after acquiring an additional 3,574 shares in the last quarter. MBB Public Markets I LLC purchased a new stake in shares of Nucor in the 2nd quarter worth about $2,637,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Nucor by 2.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 162,262 shares of the basic materials company’s stock worth $25,650,000 after acquiring an additional 3,209 shares during the period. 76.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Citigroup dropped their target price on Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Jefferies Financial Group cut 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. UBS Group reiterated a “neutral” rating and set a $156.00 price target (down previously from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Morgan Stanley cut their price target on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group began coverage on shares of Nucor in a report on Monday, December 2nd. They issued a “buy” rating and a $190.00 target price on the stock. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.63.

Get Our Latest Analysis on Nucor

Nucor Trading Up 0.1 %

Shares of NYSE:NUE opened at $122.19 on Monday. The company has a market capitalization of $28.69 billion, a PE ratio of 11.81 and a beta of 1.60. Nucor Co. has a 12-month low of $112.25 and a 12-month high of $203.00. The business has a 50 day moving average of $130.66 and a two-hundred day moving average of $143.41. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26.

Nucor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Tuesday, December 31st will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.80%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Nucor’s previous quarterly dividend of $0.54. Nucor’s payout ratio is presently 21.26%.

Insider Buying and Selling

In other news, EVP Allen C. Behr sold 4,968 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $159.72, for a total value of $793,488.96. Following the transaction, the executive vice president now directly owns 85,376 shares of the company’s stock, valued at approximately $13,636,254.72. This trade represents a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Stephen D. Laxton sold 4,712 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total value of $798,825.36. Following the transaction, the chief financial officer now directly owns 82,132 shares in the company, valued at $13,923,837.96. This trade represents a 5.43 % decrease in their position. 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 90 days. Insiders own 0.46% 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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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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