Kapitalo Investimentos Ltda Lowers Stake in Nucor Co. (NYSE:NUE)

Kapitalo Investimentos Ltda cut its position in shares of Nucor Co. (NYSE:NUE) by 71.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,451 shares of the basic materials company’s stock after selling 3,701 shares during the quarter. Kapitalo Investimentos Ltda’s holdings in Nucor were worth $253,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of NUE. Criterion Capital Advisors LLC acquired a new position in Nucor during the fourth quarter valued at approximately $25,000. Valley National Advisers Inc. lifted its position in Nucor by 716.7% during the fourth quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock valued at $34,000 after buying an additional 172 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC lifted its position in Nucor by 36.6% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 220 shares of the basic materials company’s stock valued at $38,000 after buying an additional 59 shares in the last quarter. Private Wealth Management Group LLC acquired a new position in Nucor during the fourth quarter valued at approximately $38,000. Finally, Exchange Traded Concepts LLC lifted its position in Nucor by 2,410.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 251 shares of the basic materials company’s stock valued at $44,000 after buying an additional 241 shares in the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NUE has been the topic of a number of recent research reports. StockNews.com cut shares of Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. BMO Capital Markets reduced their target price on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a research report on Monday. Citigroup raised shares of Nucor from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. Jefferies Financial Group started coverage on shares of Nucor in a research report on Monday, May 20th. They set a “hold” rating and a $190.00 target price on the stock. Finally, JPMorgan Chase & Co. reduced their target price on shares of Nucor from $190.00 to $180.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 11th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $188.38.

Nucor Stock Down 1.4 %

Shares of NYSE:NUE traded down $2.25 during midday trading on Tuesday, reaching $155.13. The company had a trading volume of 402,314 shares, compared to its average volume of 1,418,987. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.02 and a quick ratio of 2.48. The stock’s fifty day moving average price is $173.48 and its 200-day moving average price is $178.48. The stock has a market capitalization of $37.19 billion, a P/E ratio of 9.26 and a beta of 1.60. Nucor Co. has a one year low of $140.07 and a one year high of $203.00.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). The company had revenue of $8.14 billion during the quarter, compared to the consensus estimate of $8.26 billion. Nucor had a return on equity of 19.62% and a net margin of 12.40%. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $4.45 EPS. Equities research analysts expect that Nucor Co. will post 11.96 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.54 per share. The ex-dividend date is Friday, June 28th. This represents a $2.16 annualized dividend and a yield of 1.39%. Nucor’s payout ratio is 12.71%.

Insider Buying and Selling at Nucor

In other Nucor news, insider Michael D. Keller sold 3,145 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total transaction of $609,092.15. Following the completion of the sale, the insider now owns 24,873 shares in the company, valued at $4,817,153.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Douglas J. Jellison sold 19,506 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the completion of the transaction, the executive vice president now owns 120,738 shares in the company, valued at $23,351,936.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael D. Keller sold 3,145 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.67, for a total transaction of $609,092.15. Following the transaction, the insider now owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The disclosure for this sale can be found here. 0.64% of the stock is owned by insiders.

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.