Bryn Mawr Capital Management LLC Acquires 4,904 Shares of Nucor Co. (NYSE:NUE)

Bryn Mawr Capital Management LLC increased its holdings in shares of Nucor Co. (NYSE:NUE) by 114.0% during the 4th quarter, HoldingsChannel reports. The firm owned 9,204 shares of the basic materials company’s stock after purchasing an additional 4,904 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Nucor were worth $1,602,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Keybank National Association OH raised its position in Nucor by 3.4% in the 3rd quarter. Keybank National Association OH now owns 19,246 shares of the basic materials company’s stock valued at $3,009,000 after buying an additional 639 shares during the last quarter. Compagnie Lombard Odier SCmA acquired a new stake in Nucor in the 4th quarter valued at approximately $3,481,000. AIA Group Ltd raised its position in Nucor by 53.2% in the 4th quarter. AIA Group Ltd now owns 13,226 shares of the basic materials company’s stock valued at $2,302,000 after buying an additional 4,592 shares during the last quarter. Sapient Capital LLC acquired a new stake in Nucor in the 4th quarter valued at approximately $1,230,000. Finally, abrdn plc raised its position in Nucor by 41.7% in the 4th quarter. abrdn plc now owns 154,745 shares of the basic materials company’s stock valued at $26,932,000 after buying an additional 45,521 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Stock Performance

Shares of NUE stock traded down $0.52 during trading on Friday, reaching $175.36. 1,253,887 shares of the company’s stock were exchanged, compared to its average volume of 1,440,998. The company has a quick ratio of 2.35, a current ratio of 4.02 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $42.08 billion, a PE ratio of 10.32 and a beta of 1.61. Nucor Co. has a twelve month low of $129.79 and a twelve month high of $203.00. The firm’s fifty day moving average price is $190.62 and its 200-day moving average price is $174.32.

Nucor (NYSE:NUE) last posted its 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 business had revenue of $8.14 billion for the quarter, compared to analyst estimates of $8.26 billion. Nucor had a return on equity of 19.62% and a net margin of 12.40%. The firm’s revenue was down 6.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.45 earnings per share. As a group, sell-side analysts anticipate that Nucor Co. will post 12.93 EPS for the current year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Thursday, March 28th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Wednesday, March 27th. Nucor’s payout ratio is presently 12.71%.

Insider Buying and Selling

In related news, insider Michael D. Keller sold 3,145 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total transaction of $609,092.15. Following the transaction, the insider now directly owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Michael D. Keller sold 3,145 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the completion of the sale, the insider now directly owns 24,873 shares in the company, valued at approximately $4,817,153.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Douglas J. Jellison sold 19,506 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.41, for a total value of $3,772,655.46. Following the completion of the sale, the executive vice president now owns 120,738 shares of the company’s stock, valued at $23,351,936.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,151 shares of company stock valued at $7,308,683. 0.46% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on NUE shares. UBS Group started coverage on Nucor in a research report on Tuesday, January 16th. They issued a “buy” rating and a $210.00 target price on the stock. BMO Capital Markets lowered their price target on Nucor from $210.00 to $200.00 and set a “market perform” rating on the stock in a research report on Wednesday. Citigroup raised Nucor from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. JPMorgan Chase & Co. lowered their price target on Nucor from $195.00 to $190.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, StockNews.com lowered Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $193.14.

About Nucor

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.