UBS Asset Management Americas Inc. lessened its stake in shares of Nucor Co. (NYSE:NUE) by 1.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 982,023 shares of the basic materials company’s stock after selling 16,288 shares during the period. UBS Asset Management Americas Inc. owned about 0.31% of Nucor worth $62,437,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Independence Bank of Kentucky acquired a new stake in shares of Nucor during the 4th quarter valued at $100,000. Barrett Asset Management LLC acquired a new stake in Nucor during the 4th quarter valued at $101,000. Cerebellum GP LLC acquired a new stake in Nucor during the 4th quarter valued at $131,000. Benjamin F. Edwards & Company Inc. raised its stake in Nucor by 791.0% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 2,673 shares of the basic materials company’s stock valued at $150,000 after purchasing an additional 2,373 shares during the period. Finally, Dupont Capital Management Corp acquired a new stake in Nucor during the 4th quarter valued at $176,000. Institutional investors own 75.59% of the company’s stock.
Nucor Co. (NYSE:NUE) opened at $66.94 on Friday. Nucor Co. has a one year low of $51.67 and a one year high of $70.48. 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 firm has a market cap of $21,284.52, a price-to-earnings ratio of 16.17, a PEG ratio of 1.13 and a beta of 1.56.
Nucor (NYSE:NUE) last posted its quarterly 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. Nucor had a net margin of 6.58% and a return on equity of 13.03%. The business had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same period in the prior year, the business posted $0.50 earnings per share. Nucor’s revenue for the quarter was up 28.7% compared to the same quarter last year. research analysts predict that Nucor Co. will post 4.92 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 11th. Stockholders of record on Thursday, March 29th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Wednesday, March 28th. Nucor’s dividend payout ratio (DPR) is presently 36.72%.
Several analysts have issued reports on NUE shares. Zacks Investment Research raised shares of Nucor from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. BMO Capital Markets set a $62.00 target price on shares of Nucor and gave the company a “hold” rating in a research note on Friday, November 17th. ValuEngine raised shares of Nucor from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Longbow Research raised shares of Nucor from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 20th. Finally, Bank of America set a $75.00 target price on shares of Nucor and gave the company a “buy” rating in a research note on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $69.70.
In other news, Chairman John J. Ferriola sold 14,313 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $64.12, for a total value of $917,749.56. Following the transaction, the chairman now directly owns 333,775 shares of the company’s stock, valued at $21,401,653. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James D. Frias sold 39,037 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $68.31, for a total transaction of $2,666,617.47. Following the completion of the transaction, the chief financial officer now directly owns 177,204 shares in the company, valued at $12,104,805.24. The disclosure for this sale can be found here. Insiders sold 92,387 shares of company stock worth $6,078,051 over the last ninety days. 0.70% of the stock is currently owned by company insiders.
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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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