Neuburgh Advisers LLC lessened its stake in shares of Nucor Co. (NYSE:NUE) by 14.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,584 shares of the basic materials company’s stock after selling 976 shares during the period. Neuburgh Advisers LLC’s holdings in Nucor were worth $289,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in NUE. Lindbrook Capital LLC acquired a new position in shares of Nucor during the 4th quarter worth about $27,000. Laurel Wealth Advisors LLC acquired a new position in shares of Nucor during the 4th quarter worth about $38,000. Capital Investment Advisory Services LLC acquired a new position in shares of Nucor during the 4th quarter worth about $39,000. Oakworth Capital Inc. acquired a new position in shares of Nucor during the 4th quarter worth about $43,000. Finally, Essex Savings Bank acquired a new position in shares of Nucor during the 4th quarter worth about $47,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.
In other news, Chairman John J. Ferriola sold 87,719 shares of Nucor stock in a transaction on Thursday, January 31st. The shares were sold at an average price of $60.35, for a total transaction of $5,293,841.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.80% of the stock is currently owned by insiders.
Nucor (NYSE:NUE) last released its quarterly earnings data on Tuesday, January 29th. The basic materials company reported $2.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.93 by $0.14. The business had revenue of $6.30 billion during the quarter, compared to analysts’ expectations of $6.29 billion. Nucor had a net margin of 9.42% and a return on equity of 24.57%. The company’s revenue for the quarter was up 23.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.65 EPS. As a group, sell-side analysts forecast that Nucor Co. will post 5.89 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, March 29th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.60 annualized dividend and a dividend yield of 2.73%. Nucor’s dividend payout ratio (DPR) is currently 21.00%.
A number of analysts have commented on NUE shares. Credit Suisse Group upgraded shares of Nucor from a “neutral” rating to an “outperform” rating in a report on Tuesday, January 8th. KeyCorp restated a “buy” rating and set a $72.00 price target on shares of Nucor in a report on Friday, November 30th. ValuEngine raised shares of Nucor from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. UBS Group set a $63.00 price objective on shares of Nucor and gave the stock a “hold” rating in a research report on Tuesday, November 27th. Finally, Cowen assumed coverage on shares of Nucor in a research report on Tuesday, January 8th. They set an “outperform” rating and a $62.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $71.45.
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Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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