Twin Capital Management Inc. Sells 191 Shares of Nucor Co. (NYSE:NUE)

Twin Capital Management Inc. trimmed its holdings in shares of Nucor Co. (NYSE:NUE) by 1.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,657 shares of the basic materials company’s stock after selling 191 shares during the period. Twin Capital Management Inc.’s holdings in Nucor were worth $2,029,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Nucor during the 3rd quarter valued at approximately $25,000. Providence Capital Advisors LLC lifted its stake in shares of Nucor by 15,470.4% during the 1st quarter. Providence Capital Advisors LLC now owns 4,204 shares of the basic materials company’s stock valued at $27,000 after buying an additional 4,177 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in shares of Nucor during the 1st quarter valued at approximately $32,000. Valley National Advisers Inc. lifted its stake in shares of Nucor by 716.7% during the 4th quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock valued at $34,000 after buying an additional 172 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new stake in shares of Nucor during the 3rd quarter valued at approximately $40,000. 76.48% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Kenneth Rex Query sold 5,500 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $186.37, for a total value of $1,025,035.00. Following the completion of the sale, the executive vice president now directly owns 85,326 shares of the company’s stock, valued at $15,902,206.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Kenneth Rex Query sold 5,500 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $186.37, for a total value of $1,025,035.00. Following the transaction, the executive vice president now owns 85,326 shares in the company, valued at approximately $15,902,206.62. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael D. Keller sold 3,145 shares of the 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 completion of the transaction, the insider now owns 24,873 shares in the company, valued at approximately $4,817,153.91. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,151 shares of company stock valued at $7,308,683. 0.46% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on NUE shares. UBS Group began coverage on shares of Nucor in a report on Tuesday, January 16th. They set a “buy” rating and a $210.00 target price on the stock. Citigroup raised shares of Nucor from a “neutral” rating to a “buy” rating and upped their price objective for the company from $180.00 to $240.00 in a research note on Wednesday, March 13th. StockNews.com raised shares of Nucor from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Nucor from $180.00 to $195.00 and gave the company a “neutral” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Nucor presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.83.

Nucor Price Performance

Shares of NYSE:NUE opened at $190.77 on Friday. The firm’s 50 day simple moving average is $191.09 and its two-hundred day simple moving average is $173.32. Nucor Co. has a 1-year low of $129.79 and a 1-year high of $203.00. The company has a market capitalization of $45.78 billion, a P/E ratio of 10.60 and a beta of 1.61. 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 posted its quarterly earnings data on Monday, January 29th. The basic materials company reported $3.16 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.33. Nucor had a net margin of 13.03% and a return on equity of 21.42%. The business had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.64 billion. During the same quarter in the previous year, the business posted $4.89 earnings per share. The business’s revenue was down 11.7% compared to the same quarter last year. Research analysts expect that Nucor Co. will post 13.03 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Wednesday, March 27th. Nucor’s dividend payout ratio is currently 12.01%.

Nucor 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.