By otakuyassine3@gmail.com 
Hudson Capital Management LLC lifted its stake in shares of Nucor Co. (NYSE:NUE – Free Report) by 9.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,810 shares of the basic materials company’s stock after buying an additional 2,523 shares during the quarter. Hudson Capital Management LLC’s holdings in Nucor were worth $3,479,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Renaissance Technologies LLC lifted its stake in Nucor by 4.3% during the second quarter. Renaissance Technologies LLC now owns 9,700 shares of the basic materials company’s stock worth $1,533,000 after purchasing an additional 400 shares during the last quarter. Sei Investments Co. raised its stake in shares of Nucor by 91.4% during the second quarter. Sei Investments Co. now owns 55,770 shares of the basic materials company’s stock worth $8,816,000 after purchasing an additional 26,638 shares during the last quarter. 1832 Asset Management L.P. raised its stake in shares of Nucor by 31.1% during the second quarter. 1832 Asset Management L.P. now owns 15,524 shares of the basic materials company’s stock worth $2,454,000 after purchasing an additional 3,680 shares during the last quarter. Public Sector Pension Investment Board raised its stake in shares of Nucor by 64.7% during the second quarter. Public Sector Pension Investment Board now owns 9,100 shares of the basic materials company’s stock worth $1,439,000 after purchasing an additional 3,574 shares during the last quarter. Finally, Evergreen Capital Management LLC grew its holdings in Nucor by 3.5% during the second quarter. Evergreen Capital Management LLC now owns 4,498 shares of the basic materials company’s stock worth $713,000 after acquiring an additional 154 shares during the period. 76.48% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Nucor
In related news, EVP Allen C. Behr sold 4,968 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $159.72, for a total transaction of $793,488.96. Following the transaction, the executive vice president now directly owns 85,376 shares in the company, valued at $13,636,254.72. The trade was a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Leon J. Topalian sold 11,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total value of $1,860,210.00. Following the transaction, the chief executive officer now owns 172,136 shares in the company, valued at $29,109,918.96. This represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,680 shares of company stock valued at $4,773,724. Insiders own 0.46% of the company’s stock.
Nucor Stock Performance
Shares of NYSE NUE opened at $121.95 on Thursday. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $28.63 billion, a price-to-earnings ratio of 11.78 and a beta of 1.60. The stock’s fifty day simple moving average is $132.24 and its 200 day simple moving average is $143.97. Nucor Co. has a 52-week low of $112.25 and a 52-week high of $203.00.
Nucor (NYSE:NUE – Get Free Report) last issued its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.09. The business had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. Nucor’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.57 earnings per share. As a group, sell-side analysts forecast that Nucor Co. will post 8.13 earnings per share for the current fiscal year.
Nucor Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Tuesday, December 31st will be given 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 dividend on an annualized basis and a yield of 1.80%. Nucor’s dividend payout ratio (DPR) is presently 21.26%.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on NUE. UBS Group reaffirmed a “neutral” rating and set a $156.00 price objective (down previously from $171.00) on shares of Nucor in a report on Thursday, December 12th. Morgan Stanley dropped their price objective on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. The Goldman Sachs Group started coverage on Nucor in a report on Monday, December 2nd. They issued a “buy” rating and a $190.00 target price on the stock. Citigroup lowered their target price on Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. lowered their target price on Nucor from $168.00 to $152.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Nucor currently has a consensus rating of “Moderate Buy” and an average target price of $163.63.
Check Out Our Latest Stock Analysis on NUE
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.
Further Reading
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