CT Financial Advisors LLC reduced its position in shares of Nucor Co. (NYSE:NUE) by 2.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,660 shares of the basic materials company’s stock after selling 444 shares during the period. CT Financial Advisors LLC’s holdings in Nucor were worth $1,234,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the stock. TCI Wealth Advisors Inc. raised its position in shares of Nucor by 3.5% in the third quarter. TCI Wealth Advisors Inc. now owns 2,070 shares of the basic materials company’s stock worth $102,000 after buying an additional 70 shares during the period. FNY Partners Fund LP acquired a new position in shares of Nucor during the fourth quarter worth approximately $107,000. Massmutual Trust Co. FSB ADV acquired a new position in shares of Nucor during the fourth quarter worth approximately $127,000. Parallel Advisors LLC acquired a new position in shares of Nucor during the fourth quarter worth approximately $150,000. Finally, First Command Bank acquired a new position in shares of Nucor during the fourth quarter worth approximately $170,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.
Nucor Co. (NYSE:NUE) traded down 1.56% during midday trading on Friday, reaching $59.41. 479,451 shares of the company’s stock traded hands. Nucor Co. has a 52-week low of $44.81 and a 52-week high of $68.00. The stock has a market cap of $18.94 billion, a P/E ratio of 23.94 and a beta of 1.45. The company’s 50-day moving average price is $60.66 and its 200-day moving average price is $58.55.
Nucor (NYSE:NUE) last released its quarterly earnings results on Thursday, April 20th. The basic materials company reported $1.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.14 by $0.03. The firm had revenue of $4.82 billion for the quarter, compared to analysts’ expectations of $4.67 billion. Nucor had a net margin of 4.53% and a return on equity of 9.32%. The business’s quarterly revenue was up 29.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 earnings per share. On average, equities analysts predict that Nucor Co. will post $3.99 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 11th. Shareholders of record on Friday, March 31st will be given a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Wednesday, March 29th. Nucor’s payout ratio is 65.94%.
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A number of equities analysts have recently commented on the stock. BMO Capital Markets reiterated a “hold” rating on shares of Nucor in a report on Friday. Barclays PLC reiterated a “buy” rating and set a $68.00 price target on shares of Nucor in a report on Thursday. Jefferies Group LLC reiterated a “buy” rating on shares of Nucor in a report on Wednesday. Zacks Investment Research upgraded shares of Nucor from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a report on Tuesday, April 11th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Nucor from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, March 22nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Nucor currently has a consensus rating of “Buy” and an average price target of $65.97.
In other news, insider Raymond S. Napolitan, Jr. sold 12,400 shares of the company’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $63.74, for a total transaction of $790,376.00. Following the transaction, the insider now owns 73,885 shares in the company, valued at $4,709,429.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO James D. Frias sold 52,631 shares of the company’s stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $62.57, for a total transaction of $3,293,121.67. Following the transaction, the chief financial officer now owns 174,037 shares in the company, valued at approximately $10,889,495.09. The disclosure for this sale can be found here. Corporate insiders own 0.63% of the company’s stock.
Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).
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