Fifth Third Bancorp decreased its holdings in shares of Nucor Co. (NYSE:NUE – Free Report) by 12.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,353 shares of the basic materials company’s stock after selling 1,421 shares during the quarter. Fifth Third Bancorp’s holdings in Nucor were worth $1,208,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Mizuho Securities USA LLC grew its stake in shares of Nucor by 8,530.1% during the third quarter. Mizuho Securities USA LLC now owns 1,595,179 shares of the basic materials company’s stock worth $239,819,000 after purchasing an additional 1,576,695 shares during the period. Pacer Advisors Inc. boosted its holdings in Nucor by 19.8% during the third quarter. Pacer Advisors Inc. now owns 3,456,484 shares of the basic materials company’s stock worth $519,648,000 after buying an additional 571,682 shares during the last quarter. Ceredex Value Advisors LLC acquired a new position in shares of Nucor during the 3rd quarter worth about $74,829,000. Nordea Investment Management AB increased its stake in shares of Nucor by 25.6% in the 4th quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company’s stock valued at $205,282,000 after acquiring an additional 358,721 shares during the last quarter. Finally, State Street Corp raised its position in shares of Nucor by 2.9% in the 3rd quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock valued at $1,724,117,000 after acquiring an additional 326,181 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.
Insiders Place Their Bets
In other news, CFO Stephen D. Laxton sold 4,712 shares of Nucor 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 completion of the transaction, the chief financial officer now owns 82,132 shares of the company’s stock, valued at $13,923,837.96. This trade represents a 5.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Allen C. Behr sold 4,968 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $159.72, for a total transaction of $793,488.96. Following the transaction, the executive vice president now owns 85,376 shares in the company, valued at $13,636,254.72. This represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,680 shares of company stock valued at $3,452,524 in the last 90 days. 0.46% of the stock is currently owned by insiders.
Nucor Price Performance
Nucor (NYSE:NUE – Get Free Report) last issued its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.28. Nucor had a net margin of 8.05% and a return on equity of 12.06%. During the same period last year, the company posted $3.16 EPS. Equities research analysts anticipate that Nucor Co. will post 8.18 earnings per share for the current fiscal year.
Nucor Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Tuesday, December 31st will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.74%. This is an increase from Nucor’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Tuesday, December 31st. Nucor’s dividend payout ratio (DPR) is currently 21.26%.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on NUE shares. JPMorgan Chase & Co. decreased their price objective on shares of Nucor from $168.00 to $152.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Jefferies Financial Group reduced their target price on Nucor from $150.00 to $125.00 and set a “hold” rating on the stock in a report on Monday, January 6th. The Goldman Sachs Group started coverage on Nucor in a report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price target for the company. UBS Group reiterated a “neutral” rating and issued a $156.00 price objective (down from $171.00) on shares of Nucor in a research report on Thursday, December 12th. Finally, Morgan Stanley cut their price target on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $163.63.
Read Our Latest Research Report on NUE
Nucor 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.
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