Oppenheimer & Co. Inc. cut its holdings in shares of Nucor Co. (NYSE:NUE) by 15.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 19,542 shares of the basic materials company’s stock after selling 3,557 shares during the period. Oppenheimer & Co. Inc.’s holdings in Nucor were worth $1,243,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. California Public Employees Retirement System lifted its position in Nucor by 2.4% in the fourth quarter. California Public Employees Retirement System now owns 721,398 shares of the basic materials company’s stock worth $45,866,000 after purchasing an additional 16,700 shares during the period. Community Bank N.A. lifted its position in Nucor by 11.5% in the fourth quarter. Community Bank N.A. now owns 53,640 shares of the basic materials company’s stock worth $3,410,000 after purchasing an additional 5,545 shares during the period. Shelton Capital Management lifted its position in Nucor by 652.2% in the fourth quarter. Shelton Capital Management now owns 60,204 shares of the basic materials company’s stock worth $3,828,000 after purchasing an additional 52,200 shares during the period. BP PLC acquired a new stake in Nucor in the fourth quarter worth approximately $2,352,000. Finally, AE Wealth Management LLC acquired a new stake in Nucor in the fourth quarter worth approximately $1,099,000. Hedge funds and other institutional investors own 74.10% of the company’s stock.
Nucor Co. (NYSE:NUE) opened at $68.54 on Friday. The stock has a market capitalization of $21,790.03, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 1.17 and a beta of 1.56. Nucor Co. has a twelve month low of $51.67 and a twelve month high of $70.48. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.42 and a quick ratio of 1.19.
Nucor (NYSE:NUE) last posted its quarterly earnings results on Tuesday, January 30th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.10. The company had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $4.86 billion. Nucor had a return on equity of 13.03% and a net margin of 6.58%. The firm’s revenue was up 28.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 earnings per share. equities research analysts forecast that Nucor Co. will post 4.87 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Friday, December 29th were issued a $0.38 dividend. The ex-dividend date was Thursday, December 28th. This represents a $1.52 annualized dividend and a dividend yield of 2.22%. This is a boost from Nucor’s previous quarterly dividend of $0.38. Nucor’s dividend payout ratio is currently 36.72%.
In other Nucor news, EVP Robert J. Stratman sold 39,037 shares of the company’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $63.88, for a total value of $2,493,683.56. Following the transaction, the executive vice president now owns 233,824 shares of the company’s stock, valued at $14,936,677.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman John J. Ferriola sold 14,313 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $64.12, for a total transaction of $917,749.56. Following the sale, the chairman now directly owns 333,775 shares in the company, valued at $21,401,653. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by corporate insiders.
A number of equities research analysts have weighed in on the company. Credit Suisse Group upped their target price on Nucor from $67.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Morgan Stanley cut their target price on Nucor from $70.00 to $68.00 and set a “hold” rating for the company in a research report on Tuesday, February 6th. Zacks Investment Research upgraded Nucor from a “hold” rating to a “strong-buy” rating and set a $73.00 target price for the company in a research report on Tuesday, February 13th. BMO Capital Markets upped their target price on 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. Finally, Jefferies Group restated a “buy” rating and issued a $76.00 target price on shares of Nucor in a research report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Nucor has a consensus rating of “Buy” and an average target price of $69.70.
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Nucor Company Profile
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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