Clifford Swan Investment Counsel LLC Has $2.34 Million Position in Nucor Co. (NUE)

Clifford Swan Investment Counsel LLC decreased its holdings in Nucor Co. (NYSE:NUE) by 4.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 36,846 shares of the basic materials company’s stock after selling 1,765 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Nucor were worth $2,343,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Flippin Bruce & Porter Inc. raised its holdings in Nucor by 1,802.0% in the 3rd quarter. Flippin Bruce & Porter Inc. now owns 82,298 shares of the basic materials company’s stock worth $4,612,000 after purchasing an additional 77,971 shares during the period. CI Investments Inc. acquired a new position in Nucor in the 3rd quarter worth about $55,250,000. Deltec Asset Management LLC raised its holdings in Nucor by 184.8% in the 3rd quarter. Deltec Asset Management LLC now owns 28,481 shares of the basic materials company’s stock worth $1,596,000 after purchasing an additional 18,481 shares during the period. Berkshire Asset Management LLC PA raised its holdings in Nucor by 49.1% in the 3rd quarter. Berkshire Asset Management LLC PA now owns 230,408 shares of the basic materials company’s stock worth $12,912,000 after purchasing an additional 75,899 shares during the period. Finally, Rhumbline Advisers raised its holdings in Nucor by 1.4% in the 3rd quarter. Rhumbline Advisers now owns 559,037 shares of the basic materials company’s stock worth $31,328,000 after purchasing an additional 7,570 shares during the period. 75.59% of the stock is owned by institutional investors.

A number of equities analysts have commented on the company. Bank of America set a $75.00 target price on Nucor and gave the company a “buy” rating in a report on Monday, January 8th. Jefferies Group reissued a “buy” rating and set a $77.00 target price on shares of Nucor in a report on Tuesday, January 9th. Zacks Investment Research raised Nucor from a “sell” rating to a “hold” rating and set a $76.00 target price for the company in a report on Monday, January 8th. Credit Suisse Group increased their target price on Nucor from $67.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Finally, BMO Capital Markets increased their target price on Nucor to $72.00 and gave the company a “market perform” rating in a report on Wednesday, January 31st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Nucor has an average rating of “Buy” and an average target price of $69.70.

In related news, EVP Robert J. Stratman sold 39,037 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 233,824 shares in the company, valued at $14,936,677.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman John J. Ferriola sold 14,313 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $64.12, for a total value of $917,749.56. Following the completion of the transaction, the chairman now owns 333,775 shares of the company’s stock, valued at $21,401,653. The disclosure for this sale can be found here. 0.70% of the stock is owned by corporate insiders.

Shares of Nucor Co. (NYSE NUE) opened at $68.54 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.42 and a quick ratio of 1.19. The stock has a market capitalization of $21,790.01, a P/E ratio of 19.31, a PEG ratio of 1.17 and a beta of 1.56. Nucor Co. has a 52-week low of $51.67 and a 52-week high of $70.48.

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 analysts’ consensus estimates of $0.55 by $0.10. The business had revenue of $5.09 billion during the quarter, compared to analyst estimates of $4.86 billion. Nucor had a return on equity of 13.03% and a net margin of 6.58%. The business’s revenue was up 28.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.50 earnings per share. sell-side analysts predict 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. Stockholders of record on Friday, December 29th were given a $0.38 dividend. The ex-dividend date was Thursday, December 28th. This is a positive change from Nucor’s previous quarterly dividend of $0.38. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.22%. Nucor’s dividend payout ratio is 36.72%.

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About Nucor

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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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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