Yousif Capital Management LLC Cuts Holdings in Nucor Co. (NYSE:NUE)

Yousif Capital Management LLC reduced its position in Nucor Co. (NYSE:NUE) by 15.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,688 shares of the basic materials company’s stock after selling 17,055 shares during the period. Yousif Capital Management LLC’s holdings in Nucor were worth $16,305,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Criterion Capital Advisors LLC acquired a new stake in shares of Nucor during the fourth quarter worth $25,000. Valley National Advisers Inc. grew its stake in Nucor by 716.7% in the fourth quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 172 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC boosted its stake in Nucor by 36.6% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 220 shares of the basic materials company’s stock valued at $38,000 after acquiring an additional 59 shares during the period. OFI Invest Asset Management acquired a new position in Nucor in the third quarter valued at approximately $40,000. Finally, Exchange Traded Concepts LLC boosted its stake in Nucor by 2,410.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 251 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 241 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insiders Place Their Bets

In other Nucor news, EVP Allen C. Behr sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total transaction of $1,901,900.00. Following the sale, the executive vice president now directly owns 80,902 shares of the company’s stock, valued at approximately $15,386,751.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Kenneth Rex Query sold 5,500 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the transaction, the executive vice president now directly owns 85,326 shares in the company, valued at approximately $15,902,206.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Allen C. Behr sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $190.19, for a total transaction of $1,901,900.00. Following the transaction, the executive vice president now owns 80,902 shares in the company, valued at $15,386,751.38. The disclosure for this sale can be found here. Insiders have sold 38,151 shares of company stock valued at $7,308,683 in the last three months. 0.46% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. UBS Group assumed coverage on Nucor in a report on Tuesday, January 16th. They set a “buy” rating and a $210.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of Nucor from $180.00 to $195.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. StockNews.com raised Nucor from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th. Finally, Citigroup raised Nucor from a “neutral” rating to a “buy” rating and raised their price target for the company from $180.00 to $240.00 in a research report on Wednesday, March 13th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $192.83.

Nucor Trading Down 8.9 %

Shares of NYSE NUE traded down $16.99 during midday trading on Tuesday, reaching $174.64. 4,805,092 shares of the stock were exchanged, compared to its average volume of 1,426,247. The business has a 50-day simple moving average of $191.20 and a two-hundred day simple moving average of $174.18. The company has a market capitalization of $41.91 billion, a price-to-earnings ratio of 9.71 and a beta of 1.61. Nucor Co. has a 12 month low of $129.79 and a 12 month high of $203.00. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.57 and a quick ratio of 2.35.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). The firm had revenue of $8.14 billion for the quarter, compared to the consensus estimate of $8.26 billion. Nucor had a return on equity of 21.42% and a net margin of 13.03%. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the prior year, the business earned $4.45 earnings per share. As a group, equities research analysts expect that Nucor Co. will post 12.93 EPS for the current year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Thursday, March 28th will be given a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.16 annualized dividend and a yield of 1.24%. Nucor’s dividend payout ratio is currently 12.01%.

Nucor Company Profile

Nucor Corporation engages in manufacture and sale of steel and steel products. 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; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.