Stone Ridge Asset Management LLC purchased a new stake in shares of Nucor Co. (NYSE:NUE) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 17,540 shares of the basic materials company’s stock, valued at approximately $1,115,000.
A number of other large investors have also bought and sold shares of the stock. Independence Bank of Kentucky purchased a new position in Nucor in the fourth quarter valued at about $100,000. Barrett Asset Management LLC purchased a new position in Nucor in the fourth quarter valued at about $101,000. Cerebellum GP LLC purchased a new position in Nucor in the fourth quarter valued at about $131,000. Financial Gravity Companies Inc. purchased a new position in Nucor in the fourth quarter valued at about $140,000. Finally, Dupont Capital Management Corp purchased a new position in Nucor in the fourth quarter valued at about $176,000. 80.16% of the stock is currently owned by hedge funds and other institutional investors.
In related news, 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 transaction of $917,749.56. Following the completion of the sale, the chairman now owns 333,775 shares in the company, valued at approximately $21,401,653. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Robert J. Stratman sold 39,037 shares of the stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $63.88, for a total value of $2,493,683.56. Following the sale, the executive vice president now owns 233,824 shares of the company’s stock, valued at approximately $14,936,677.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,387 shares of company stock valued at $6,285,411. 0.70% of the stock is owned by corporate insiders.
A number of research analysts have commented on the company. Credit Suisse Group boosted their target price on Nucor from $67.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Zacks Investment Research downgraded Nucor from a “buy” rating to a “hold” rating in a research note on Monday, March 12th. Jefferies Group restated a “buy” rating and issued a $77.00 target price on shares of Nucor in a research note on Tuesday, January 9th. Morgan Stanley decreased their price target on Nucor from $70.00 to $68.00 and set a “hold” rating for the company in a research note on Tuesday, February 6th. Finally, ValuEngine upgraded Nucor from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $69.70.
Shares of Nucor Co. (NYSE NUE) opened at $66.59 on Friday. The stock has a market capitalization of $21,041.05, a PE ratio of 18.64, a PEG ratio of 1.08 and a beta of 1.51. Nucor Co. has a 52 week low of $51.67 and a 52 week high of $70.48. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 2.42.
Nucor (NYSE:NUE) last released its quarterly earnings results on Tuesday, January 30th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.10. The company had revenue of $5.09 billion during the quarter, compared to the consensus estimate 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 posted $0.50 EPS. research analysts expect that Nucor Co. will post 5.12 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 11th. Investors of record on Thursday, March 29th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.52 annualized dividend and a yield of 2.28%. Nucor’s payout ratio is 36.72%.
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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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