Graypoint LLC lowered its stake in Nucor Co. (NYSE:NUE – Free Report) by 4.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,342 shares of the basic materials company’s stock after selling 100 shares during the quarter. Graypoint LLC’s holdings in Nucor were worth $273,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in Nucor in the 3rd quarter valued at approximately $26,000. Coastline Trust Co purchased a new position in shares of Nucor during the 3rd quarter worth $29,000. Brown Lisle Cummings Inc. purchased a new position in shares of Nucor during the 3rd quarter worth $30,000. Salomon & Ludwin LLC lifted its stake in shares of Nucor by 45.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 72 shares during the period. Finally, Carolina Wealth Advisors LLC purchased a new position in shares of Nucor during the 3rd quarter worth $43,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.
Insiders Place Their Bets
In other Nucor 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 owns 85,376 shares of the company’s stock, valued at $13,636,254.72. This trade represents a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kenneth Rex Query sold 9,000 shares of Nucor stock in a transaction that occurred on Tuesday, October 29th. The shares were 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 in the company, valued at approximately $14,499,436. This trade represents a 8.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,680 shares of company stock valued at $4,773,724 over the last quarter. Insiders own 0.46% of the company’s stock.
Nucor Stock Up 0.4 %
Nucor (NYSE:NUE – Get Free Report) last issued its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.09. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The firm had revenue of $7.44 billion for the quarter, compared to analysts’ expectations of $7.28 billion. During the same quarter last year, the company posted $4.57 earnings per share. Nucor’s revenue was down 15.2% on a year-over-year basis. Sell-side analysts predict that Nucor Co. will post 8.48 EPS for the current fiscal year.
Nucor Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Tuesday, December 31st will be issued a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.20 dividend on an annualized basis and a yield of 1.85%. This is a boost from Nucor’s previous quarterly dividend of $0.54. Nucor’s dividend payout ratio (DPR) is currently 21.26%.
Analyst Upgrades and Downgrades
NUE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reduced their price target on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Morgan Stanley cut their target price on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Citigroup cut their target price on Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Jefferies Financial Group cut their target price on Nucor from $150.00 to $125.00 and set a “hold” rating on the stock in a research report on Monday, January 6th. Finally, BMO Capital Markets cut their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 18th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.63.
Check Out Our Latest Stock Analysis on Nucor
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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