Strategic Investment Advisors MI Lowers Position in Nucor Co. (NYSE:NUE)

Strategic Investment Advisors MI lowered its holdings in Nucor Co. (NYSE:NUEFree Report) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,973 shares of the basic materials company’s stock after selling 309 shares during the quarter. Strategic Investment Advisors MI’s holdings in Nucor were worth $1,910,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of NUE. Gateway Investment Advisers LLC lifted its position in shares of Nucor by 10.4% during the fourth quarter. Gateway Investment Advisers LLC now owns 24,050 shares of the basic materials company’s stock valued at $4,186,000 after buying an additional 2,263 shares during the last quarter. Sound Income Strategies LLC raised its stake in shares of Nucor by 815.2% during the 4th quarter. Sound Income Strategies LLC now owns 302 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 269 shares in the last quarter. Nordea Investment Management AB lifted its position in Nucor by 2.1% during the fourth quarter. Nordea Investment Management AB now owns 1,094,177 shares of the basic materials company’s stock valued at $190,376,000 after acquiring an additional 22,596 shares during the last quarter. Wedmont Private Capital boosted its stake in Nucor by 10.9% in the fourth quarter. Wedmont Private Capital now owns 3,606 shares of the basic materials company’s stock valued at $623,000 after acquiring an additional 353 shares in the last quarter. Finally, Diversified Trust Co grew its holdings in Nucor by 5.3% in the fourth quarter. Diversified Trust Co now owns 5,569 shares of the basic materials company’s stock worth $969,000 after purchasing an additional 279 shares during the last quarter. Hedge funds and other institutional investors own 77.76% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and increased their price objective for the company from $180.00 to $240.00 in a report on Wednesday, March 13th. JPMorgan Chase & Co. raised their price target on shares of Nucor from $151.00 to $158.00 and gave the stock a “neutral” rating in a report on Tuesday, December 12th. StockNews.com downgraded Nucor from a “buy” rating to a “hold” rating in a research report on Wednesday, March 13th. Finally, UBS Group assumed coverage on Nucor in a research note on Tuesday, January 16th. They set a “buy” rating and a $210.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $186.67.

View Our Latest Research Report on Nucor

Insider Transactions at Nucor

In related news, EVP Kenneth Rex Query sold 5,500 shares of Nucor stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $186.37, for a total value of $1,025,035.00. Following the completion of the transaction, the executive vice president now owns 85,326 shares in the company, valued at approximately $15,902,206.62. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Nucor news, EVP Douglas J. Jellison sold 11,491 shares of the company’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $176.83, for a total transaction of $2,031,953.53. Following the completion of the transaction, the executive vice president now directly owns 127,615 shares in the company, valued at $22,566,160.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kenneth Rex Query sold 5,500 shares of Nucor stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the completion of the sale, the executive vice president now owns 85,326 shares in the company, valued at approximately $15,902,206.62. The disclosure for this sale can be found here. Insiders have sold a total of 23,762 shares of company stock valued at $4,258,570 in the last ninety days. 0.46% of the stock is currently owned by corporate insiders.

Nucor Price Performance

Shares of NUE opened at $189.78 on Monday. The company has a market capitalization of $45.69 billion, a P/E ratio of 10.48 and a beta of 1.61. The business’s 50-day moving average is $181.13 and its two-hundred day moving average is $167.59. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.35 and a current ratio of 3.57. Nucor Co. has a fifty-two week low of $129.79 and a fifty-two week high of $195.00.

Nucor (NYSE:NUEGet Free Report) last announced its quarterly earnings results on Monday, January 29th. The basic materials company reported $3.16 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.33. The company had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.64 billion. Nucor had a return on equity of 21.42% and a net margin of 13.03%. Nucor’s quarterly revenue was down 11.7% on a year-over-year basis. During the same period last year, the business earned $4.89 earnings per share. Research analysts predict that Nucor Co. will post 13.52 earnings per share for the current year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, March 28th will be given a $0.54 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.14%. Nucor’s dividend payout ratio (DPR) is currently 12.01%.

Nucor Profile

(Free Report)

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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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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