Meadow Creek Investment Management LLC cut its position in shares of Nucor Co. (NYSE:NUE) by 8.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,916 shares of the basic materials company’s stock after selling 2,006 shares during the quarter. Meadow Creek Investment Management LLC’s holdings in Nucor were worth $1,457,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in NUE. Independence Bank of Kentucky acquired a new stake in Nucor during the fourth quarter worth about $100,000. Barrett Asset Management LLC acquired a new stake in Nucor during the fourth quarter worth about $101,000. Cerebellum GP LLC acquired a new stake in Nucor during the fourth quarter worth about $131,000. Financial Gravity Companies Inc. acquired a new stake in Nucor during the fourth quarter worth about $140,000. Finally, Dupont Capital Management Corp acquired a new stake in Nucor during the fourth quarter worth about $176,000. 80.07% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Victoria F. Haynes sold 3,000 shares of Nucor stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $69.12, for a total value of $207,360.00. Following the completion of the transaction, the director now owns 30,573 shares in the company, valued at $2,113,205.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert J. Stratman sold 39,037 shares of Nucor stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $63.88, for a total transaction of $2,493,683.56. Following the completion of the transaction, 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. Insiders sold 95,387 shares of company stock valued at $6,285,411 in the last quarter. 0.70% of the stock is currently owned by corporate insiders.
Nucor Co. (NYSE NUE) opened at $65.33 on Tuesday. 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 stock has a market cap of $21,171.40, a P/E ratio of 15.78, a PEG ratio of 1.08 and a beta of 1.51.
Nucor (NYSE:NUE) last posted its 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. Nucor had a net margin of 6.58% and a return on equity of 13.03%. The company had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter in the previous year, the company posted $0.50 earnings per share. Nucor’s quarterly revenue was up 28.7% compared to the same quarter last year. sell-side analysts forecast that Nucor Co. will post 5.12 EPS for the current fiscal year.
The company also recently announced 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 2.33%. The ex-dividend date is Wednesday, March 28th. Nucor’s dividend payout ratio (DPR) is currently 36.72%.
A number of equities research analysts recently weighed in on NUE shares. Longbow Research raised Nucor from a “neutral” rating to a “buy” rating in a research report on Wednesday, December 20th. ValuEngine raised Nucor from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Bank of America set a $75.00 target price on Nucor and gave the stock a “buy” rating in a research report on Monday, January 8th. Jefferies Group restated a “buy” rating and set a $76.00 price target on shares of Nucor in a research note on Wednesday, January 31st. Finally, Goldman Sachs initiated coverage on shares of Nucor in a research note on Tuesday. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. Nucor presently has a consensus rating of “Buy” and a consensus price target 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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