Nucor Co. (NYSE:NUE) Shares Sold by UMB Bank n.a.

UMB Bank n.a. lowered its holdings in Nucor Co. (NYSE:NUEFree Report) by 7.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 98,389 shares of the basic materials company’s stock after selling 8,455 shares during the quarter. UMB Bank n.a.’s holdings in Nucor were worth $17,124,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Keybank National Association OH raised its stake in shares of Nucor by 3.4% during the 3rd quarter. Keybank National Association OH now owns 19,246 shares of the basic materials company’s stock valued at $3,009,000 after buying an additional 639 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new position in Nucor during the fourth quarter valued at approximately $3,481,000. Deutsche Bank AG lifted its holdings in Nucor by 2.5% in the third quarter. Deutsche Bank AG now owns 908,340 shares of the basic materials company’s stock valued at $142,019,000 after acquiring an additional 22,470 shares during the period. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in Nucor in the 4th quarter worth approximately $5,490,000. Finally, Nordea Investment Management AB grew its stake in shares of Nucor by 2.1% during the 4th quarter. Nordea Investment Management AB now owns 1,094,177 shares of the basic materials company’s stock worth $190,376,000 after purchasing an additional 22,596 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analyst Ratings Changes

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

Read Our Latest Report on Nucor

Insiders Place Their Bets

In related news, EVP Allen C. Behr sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total transaction of $1,901,900.00. Following the sale, the executive vice president now directly owns 80,902 shares of the company’s stock, valued at approximately $15,386,751.38. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Douglas J. Jellison sold 19,506 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now directly 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 link. Also, EVP Allen C. Behr sold 10,000 shares of Nucor stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $190.19, for a total transaction of $1,901,900.00. Following the completion of the transaction, the executive vice president now owns 80,902 shares of the company’s stock, valued at approximately $15,386,751.38. The disclosure for this sale can be found here. Insiders have sold 38,151 shares of company stock worth $7,308,683 over the last three months. Company insiders own 0.46% of the company’s stock.

Nucor Stock Up 0.9 %

Shares of NUE opened at $200.15 on Thursday. The company’s 50-day moving average price is $187.48 and its 200 day moving average price is $170.05. Nucor Co. has a 12-month low of $129.79 and a 12-month high of $202.89. The company has a current ratio of 3.57, a quick ratio of 2.35 and a debt-to-equity ratio of 0.30. The firm has a market cap of $48.03 billion, a P/E ratio of 11.13 and a beta of 1.61.

Nucor (NYSE:NUEGet Free Report) last released its quarterly earnings results on Monday, January 29th. The basic materials company reported $3.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.33. The business had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.64 billion. Nucor had a net margin of 13.03% and a return on equity of 21.42%. The business’s revenue was down 11.7% on a year-over-year basis. During the same period in the previous year, the firm earned $4.89 EPS. On average, sell-side analysts forecast that Nucor Co. will post 14.03 earnings per share for the current year.

Nucor Dividend Announcement

The company also recently announced 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. This represents a $2.16 annualized dividend and a yield of 1.08%. The ex-dividend date is Wednesday, March 27th. Nucor’s dividend payout ratio is currently 12.01%.

About Nucor

(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.

See Also

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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