Geode Capital Management LLC lessened its holdings in Nucor Co. (NYSE:NUE) by 3.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,482,027 shares of the basic materials company’s stock after selling 138,664 shares during the quarter. Geode Capital Management LLC owned 1.10% of Nucor worth $220,943,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. Independence Bank of Kentucky acquired a new position in shares of Nucor during the 4th quarter worth approximately $100,000. Barrett Asset Management LLC acquired a new position in Nucor in the 4th quarter valued at $101,000. Cerebellum GP LLC acquired a new position in Nucor in the 4th quarter valued at $131,000. Financial Gravity Companies Inc. acquired a new position in Nucor in the 4th quarter valued at $140,000. Finally, Dupont Capital Management Corp acquired a new position in Nucor in the 4th quarter valued at $176,000. Institutional investors own 80.16% of the company’s stock.
NUE has been the subject of several research reports. Zacks Investment Research cut shares of Nucor from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. ValuEngine raised shares of Nucor from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Longbow Research raised shares of Nucor from a “neutral” rating to a “buy” rating in a research report on Wednesday, December 20th. Bank of America set a $75.00 price target on shares of Nucor and gave the stock a “buy” rating in a research report on Monday, January 8th. Finally, BMO Capital Markets upped their price target on shares of Nucor to $72.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 31st. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $69.70.
In other Nucor news, CFO James D. Frias sold 39,037 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $68.31, for a total value of $2,666,617.47. Following the sale, the chief financial officer now directly owns 177,204 shares in the company, valued at approximately $12,104,805.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Victoria F. Haynes sold 3,000 shares of the firm’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $69.12, for a total transaction of $207,360.00. Following the completion of the sale, the director now owns 30,573 shares in the company, valued at $2,113,205.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,387 shares of company stock valued at $6,285,411. Insiders own 0.70% of the company’s stock.
Nucor Co. (NYSE NUE) traded down $1.53 during trading on Wednesday, hitting $66.00. 2,287,165 shares of the stock traded hands, compared to its average volume of 3,088,361. The company has a quick ratio of 1.19, a current ratio of 2.42 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $20,980.00, a PE ratio of 18.59, a PEG ratio of 1.15 and a beta of 1.51. Nucor Co. has a twelve month low of $51.67 and a twelve month high of $70.48.
Nucor (NYSE:NUE) last issued its earnings results on Tuesday, January 30th. The basic materials company reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.10. The firm had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $4.86 billion. Nucor had a net margin of 6.58% and a return on equity of 13.03%. The firm’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same period last year, the firm posted $0.50 earnings per share. equities research analysts forecast that Nucor Co. will post 4.92 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 11th. Shareholders of record on Thursday, March 29th will be given a $0.38 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $1.52 dividend on an annualized basis and a yield of 2.30%. Nucor’s payout ratio is 42.82%.
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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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