Alpine Woods Capital Investors LLC lessened its holdings in shares of Nucor (NYSE:NUE) by 12.9% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 23,700 shares of the basic materials company’s stock after selling 3,500 shares during the period. Alpine Woods Capital Investors LLC’s holdings in Nucor were worth $1,448,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Main Street Research LLC grew its holdings in shares of Nucor by 1.9% during the fourth quarter. Main Street Research LLC now owns 200,752 shares of the basic materials company’s stock worth $12,764,000 after purchasing an additional 3,730 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in Nucor by 32.6% in the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 20,345 shares of the basic materials company’s stock valued at $1,294,000 after acquiring an additional 5,000 shares during the last quarter. MetLife Investment Advisors LLC bought a new position in Nucor in the fourth quarter valued at about $6,254,000. SG Americas Securities LLC boosted its holdings in Nucor by 330.3% in the fourth quarter. SG Americas Securities LLC now owns 63,096 shares of the basic materials company’s stock valued at $4,012,000 after acquiring an additional 48,432 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in Nucor by 60.4% in the fourth quarter. Bank of Montreal Can now owns 514,931 shares of the basic materials company’s stock valued at $32,739,000 after acquiring an additional 194,001 shares during the last quarter. Institutional investors own 79.50% of the company’s stock.
NUE has been the topic of several recent research reports. Zacks Investment Research cut Nucor from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. ValuEngine cut Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, March 20th. Jefferies Group reiterated a “buy” rating and issued a $76.00 price target on shares of Nucor in a report on Wednesday, January 31st. Morgan Stanley raised their price target on Nucor from $68.00 to $73.00 and gave the company an “equal weight” rating in a report on Tuesday, April 17th. Finally, UBS initiated coverage on Nucor in a report on Tuesday, April 17th. They issued a “neutral” rating and a $65.00 price target on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $70.40.
Shares of Nucor opened at $65.54 on Friday, according to Marketbeat.com. The company has a current ratio of 2.49, a quick ratio of 1.18 and a debt-to-equity ratio of 0.35. Nucor has a 1 year low of $51.67 and a 1 year high of $70.48. The stock has a market cap of $20.67 billion, a price-to-earnings ratio of 18.67, a P/E/G ratio of 0.92 and a beta of 1.55.
Nucor (NYSE:NUE) last issued its earnings results on Thursday, April 19th. The basic materials company reported $1.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.07. Nucor had a return on equity of 12.94% and a net margin of 6.33%. The firm had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.50 billion. During the same quarter last year, the business earned $1.13 earnings per share. The company’s revenue was up 15.6% compared to the same quarter last year. equities analysts predict that Nucor will post 5.86 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 11th. Stockholders of record on Thursday, March 29th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date was Wednesday, March 28th. Nucor’s dividend payout ratio is currently 43.30%.
In other news, Director Victoria F. Haynes sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $69.12, for a total transaction of $207,360.00. Following the sale, the director now owns 30,573 shares of the company’s stock, valued at $2,113,205.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Victoria F. Haynes sold 1,800 shares of the firm’s stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $60.91, for a total value of $109,638.00. Following the sale, the director now directly owns 28,773 shares in the company, valued at approximately $1,752,563.43. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,837 shares of company stock worth $3,504,495. 0.70% of the stock is currently owned by insiders.
Nucor Company Profile
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. It operates in three segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; hollow structural section steel tubing, steel electrical conduit, plate steel, and structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, wire rods, and special bar quality; and tubular and plate steel products.
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