First United Bank & Trust reduced its stake in Nucor Co. (NYSE:NUE – Free Report) by 38.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,870 shares of the basic materials company’s stock after selling 1,190 shares during the period. First United Bank & Trust’s holdings in Nucor were worth $218,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in NUE. Mizuho Securities USA LLC lifted its position 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 in the last quarter. Pacer Advisors Inc. lifted its holdings in Nucor by 19.8% in the 3rd 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 in the last quarter. Ceredex Value Advisors LLC purchased a new position in Nucor in the 3rd quarter valued at about $74,829,000. Nordea Investment Management AB lifted its stake in shares of Nucor by 25.6% in the fourth quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company’s stock worth $205,282,000 after acquiring an additional 358,721 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Nucor by 2.9% during 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 buying an additional 326,181 shares during the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.
Nucor Stock Up 0.8 %
Shares of Nucor stock opened at $124.40 on Tuesday. Nucor Co. has a 1-year low of $112.25 and a 1-year high of $203.00. The business’s fifty day moving average price is $133.52 and its two-hundred day moving average price is $144.40. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61. The company has a market capitalization of $29.21 billion, a P/E ratio of 12.02 and a beta of 1.60.
Nucor Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.55 per share. This is a boost from Nucor’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.20 annualized dividend and a yield of 1.77%. Nucor’s payout ratio is presently 21.26%.
Analyst Ratings Changes
Several analysts recently weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Nucor from $168.00 to $152.00 and set an “overweight” rating for the company in a report on Friday. UBS Group reiterated a “neutral” rating and issued a $156.00 price target (down from $171.00) on shares of Nucor in a report on Thursday, December 12th. Citigroup reduced their price objective on Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Jefferies Financial Group lowered 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, The Goldman Sachs Group started coverage on shares of Nucor in a research report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price target on the stock. 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.63.
Read Our Latest Stock Analysis on Nucor
Insiders Place Their Bets
In other Nucor news, EVP Kenneth Rex Query sold 9,000 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 98,770 shares of the company’s stock, valued at approximately $14,499,436. This represents a 8.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Allen C. Behr sold 4,968 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $159.72, for a total value of $793,488.96. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders sold 29,680 shares of company stock worth $4,773,724 over the last ninety days. Company insiders own 0.64% of the company’s stock.
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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