Capital Investment Advisors LLC raised its position in Nucor Co. (NYSE:NUE – Free Report) by 339.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,157 shares of the basic materials company’s stock after purchasing 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 quarter.
Several other hedge funds and other institutional investors have also modified their holdings of NUE. Ashton Thomas Securities LLC acquired a new position in Nucor during the third quarter valued at approximately $26,000. Coastline Trust Co purchased a new position in shares of Nucor in the 3rd quarter valued at $29,000. Brown Lisle Cummings Inc. purchased a new position in shares of Nucor in the 3rd quarter valued at $30,000. Salomon & Ludwin LLC lifted its holdings 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 valued at $35,000 after acquiring an additional 72 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in Nucor by 60.3% during the 4th quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 114 shares during the period. 76.48% of the stock is owned by institutional investors and hedge funds.
Nucor Stock Down 0.9 %
Shares of NYSE:NUE opened at $121.73 on Wednesday. The firm has a market cap of $28.58 billion, a PE ratio of 11.76 and a beta of 1.60. The company has a fifty day simple moving average of $135.85 and a 200 day simple moving average of $145.10. 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 Co. has a 12-month low of $112.25 and a 12-month high of $203.00.
Nucor Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders 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 dividend yield of 1.81%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Nucor’s previous quarterly dividend of $0.54. Nucor’s dividend payout ratio is 21.26%.
Insider Activity
In other news, EVP Kenneth Rex Query sold 9,000 shares of the company’s stock in a transaction dated 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 owns 98,770 shares in the company, valued at approximately $14,499,436. This represents a 8.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Stephen D. Laxton sold 4,712 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total transaction of $798,825.36. Following the completion of the sale, the chief financial officer now owns 82,132 shares in the company, valued at approximately $13,923,837.96. This trade represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,680 shares of company stock worth $4,773,724. 0.46% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of brokerages have commented on NUE. BMO Capital Markets reduced their price objective on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 18th. UBS Group restated a “neutral” rating and issued a $156.00 price target (down previously from $171.00) on shares of Nucor in a report on Thursday, December 12th. The Goldman Sachs Group assumed coverage on shares of Nucor in a research note on Monday, December 2nd. They set a “buy” rating and a $190.00 price objective on the stock. Jefferies Financial Group decreased their target price on shares of Nucor from $150.00 to $125.00 and set a “hold” rating for the company in a research note on Monday, January 6th. Finally, Morgan Stanley dropped 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 analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.63.
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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