Nucor Co. (NYSE:NUE) Shares Sold by CNB Bank

CNB Bank lowered its position in shares of Nucor Co. (NYSE:NUE) by 16.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,332 shares of the basic materials company’s stock after selling 265 shares during the quarter. CNB Bank’s holdings in Nucor were worth $232,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Householder Group Estate & Retirement Specialist LLC acquired a new stake in Nucor during the 3rd quarter worth $25,000. Providence Capital Advisors LLC boosted its stake in 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 worth $27,000 after purchasing an additional 4,177 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in Nucor during the 1st quarter worth $32,000. Valley National Advisers Inc. boosted its stake in Nucor by 716.7% during the 4th 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 during the last quarter. Finally, OFI Invest Asset Management acquired a new stake in Nucor during the 3rd quarter worth $40,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Trading Up 0.3 %

NYSE NUE traded up $0.59 during trading hours on Friday, reaching $191.36. The company had a trading volume of 1,622,789 shares, compared to its average volume of 908,045. The stock has a 50-day moving average of $191.19 and a 200 day moving average of $173.57. Nucor Co. has a 1-year low of $129.79 and a 1-year high of $203.00. The company has a current ratio of 3.57, a quick ratio of 2.35 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $45.92 billion, a P/E ratio of 10.64 and a beta of 1.61.

Nucor (NYSE:NUE) last posted its earnings results on Monday, January 29th. The basic materials company reported $3.16 EPS 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 company had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.64 billion. During the same quarter in the prior year, the company posted $4.89 earnings per share. Nucor’s revenue for the quarter was down 11.7% compared to the same quarter last year. As a group, research analysts anticipate that Nucor Co. will post 12.93 earnings per share for the current fiscal year.

Nucor Dividend Announcement

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

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 in the company, valued at $15,386,751.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Douglas J. Jellison sold 19,506 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the sale, the executive vice president now directly owns 120,738 shares in the company, valued at $23,351,936.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Allen C. Behr sold 10,000 shares of the company’s stock in a transaction that occurred on 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 sale, 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 worth $7,308,683 over the last three months. Company insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

NUE has been the topic of several recent research reports. Citigroup raised shares of Nucor from a “neutral” rating to a “buy” rating and boosted their price target for the company from $180.00 to $240.00 in a research report on Wednesday, March 13th. StockNews.com raised shares of Nucor from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. boosted their price target on shares of Nucor from $180.00 to $195.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, UBS Group initiated coverage on shares of Nucor in a research report on Tuesday, January 16th. They set a “buy” rating and a $210.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.83.

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.