Los Angeles Capital Management LLC Has $16.32 Million Stake in Nucor Co. (NYSE:NUE)

Los Angeles Capital Management LLC lessened its holdings in Nucor Co. (NYSE:NUE) by 20.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 93,766 shares of the basic materials company’s stock after selling 24,285 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Nucor were worth $16,319,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Keybank National Association OH increased its holdings in shares of Nucor by 3.4% during the third quarter. Keybank National Association OH now owns 19,246 shares of the basic materials company’s stock worth $3,009,000 after purchasing an additional 639 shares during the period. Compagnie Lombard Odier SCmA bought a new position in Nucor during the 4th quarter worth $3,481,000. AIA Group Ltd lifted its position in shares of Nucor by 53.2% during the 4th quarter. AIA Group Ltd now owns 13,226 shares of the basic materials company’s stock valued at $2,302,000 after acquiring an additional 4,592 shares during the period. Sapient Capital LLC acquired a new stake in shares of Nucor during the 4th quarter worth $1,230,000. Finally, abrdn plc increased its position in shares of Nucor by 41.7% in the fourth quarter. abrdn plc now owns 154,745 shares of the basic materials company’s stock worth $26,932,000 after purchasing an additional 45,521 shares during the period. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on NUE. StockNews.com lowered shares of Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Nucor from $195.00 to $190.00 and set a “neutral” rating for the company in a research note on Wednesday, April 24th. Citigroup raised shares of Nucor from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $180.00 to $240.00 in a research note on Wednesday, March 13th. UBS Group assumed coverage on shares of Nucor in a research report on Tuesday, January 16th. They issued a “buy” rating and a $210.00 price target for the company. Finally, BMO Capital Markets reduced their price objective on shares of 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $193.14.

Nucor Stock Performance

Nucor stock traded up $3.40 during mid-day trading on Friday, reaching $173.92. 1,054,672 shares of the company’s stock were exchanged, compared to its average volume of 1,443,490. The business’s fifty day simple moving average is $189.47 and its 200 day simple moving average is $174.86. The company has a quick ratio of 2.48, a current ratio of 4.02 and a debt-to-equity ratio of 0.31. Nucor Co. has a one year low of $129.79 and a one year high of $203.00. The firm has a market capitalization of $41.74 billion, a PE ratio of 10.23 and a beta of 1.65.

Nucor (NYSE:NUE) last released 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). The business 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 19.62% and a net margin of 12.40%. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.45 earnings per share. On average, sell-side analysts expect that Nucor Co. will post 12.55 earnings per share for the current year.

Nucor Announces Dividend

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 given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Wednesday, March 27th. Nucor’s dividend payout ratio is currently 12.71%.

Insider Transactions at Nucor

In other Nucor news, EVP Allen C. Behr sold 10,000 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 80,902 shares of the company’s stock, valued at $15,386,751.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Douglas J. Jellison sold 19,506 shares of Nucor stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 120,738 shares in the company, valued at approximately $23,351,936.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Allen C. Behr sold 10,000 shares of the 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 completion of the sale, the executive vice president now directly owns 80,902 shares in the company, valued at $15,386,751.38. The disclosure for this sale can be found here. Insiders sold a total of 32,651 shares of company stock worth $6,283,648 in the last quarter. Insiders own 0.46% of the company’s stock.

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.