Capital Investment Counsel Inc Cuts Stock Position in Nucor Co. (NYSE:NUE)

Capital Investment Counsel Inc cut its holdings in Nucor Co. (NYSE:NUE) by 13.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,555 shares of the basic materials company’s stock after selling 550 shares during the quarter. Capital Investment Counsel Inc’s holdings in Nucor were worth $619,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Criterion Capital Advisors LLC bought a new stake in shares of Nucor during the fourth quarter worth $25,000. Valley National Advisers Inc. lifted its position in shares of Nucor by 716.7% during 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 during the last quarter. Householder Group Estate & Retirement Specialist LLC lifted its position in shares of Nucor by 36.6% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 220 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 59 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Nucor by 2,410.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 251 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 241 shares during the last quarter. Finally, OFI Invest Asset Management bought a new stake in shares of Nucor during the third quarter worth $40,000. 76.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on NUE. StockNews.com downgraded Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Citigroup upgraded 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 note on Wednesday, March 13th. JPMorgan Chase & Co. cut their price target on Nucor from $195.00 to $190.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. UBS Group began coverage on Nucor in a research note on Tuesday, January 16th. They set a “buy” rating and a $210.00 price target on the stock. Finally, BMO Capital Markets cut their price target on Nucor from $210.00 to $200.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $193.14.

Insider Activity

In other news, insider Michael D. Keller sold 3,145 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.67, for a total transaction of $609,092.15. Following the transaction, the insider now owns 24,873 shares in the company, valued at $4,817,153.91. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Michael D. Keller sold 3,145 shares of the company’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 value of $609,092.15. Following the sale, the insider now owns 24,873 shares in the company, valued at $4,817,153.91. The sale was disclosed in a legal filing with the SEC, which is available 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 shares were sold at an average price of $190.19, for a total value of $1,901,900.00. Following the completion of the sale, the executive vice president now owns 80,902 shares in the company, valued at approximately $15,386,751.38. The disclosure for this sale can be found here. Insiders have sold a total of 38,151 shares of company stock worth $7,308,683 over the last 90 days. 0.64% of the stock is currently owned by corporate insiders.

Nucor Stock Up 0.0 %

Nucor stock traded up $0.01 during trading hours on Monday, reaching $175.43. The stock had a trading volume of 149,420 shares, compared to its average volume of 1,424,316. The company has a market cap of $42.10 billion, a price-to-earnings ratio of 10.35 and a beta of 1.61. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.02 and a quick ratio of 2.48. The business’s 50 day moving average price is $190.62 and its 200-day moving average price is $174.59. Nucor Co. has a 52 week low of $129.79 and a 52 week high of $203.00.

Nucor (NYSE:NUE) last announced its earnings results on Monday, April 22nd. The basic materials company reported $3.46 EPS for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). Nucor had a return on equity of 19.62% and a net margin of 12.40%. The firm had revenue of $8.14 billion during the quarter, compared to the consensus estimate of $8.26 billion. During the same quarter in the prior year, the firm posted $4.45 earnings per share. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. Sell-side analysts anticipate that Nucor Co. will post 12.5 EPS for the current year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.54 per share. The ex-dividend date is Wednesday, March 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.23%. Nucor’s dividend payout ratio (DPR) is currently 12.71%.

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.