1832 Asset Management L.P. Has $3.38 Million Stake in Nucor Co. (NYSE:NUE)

1832 Asset Management L.P. cut its holdings in Nucor Co. (NYSE:NUEFree Report) by 1.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,390 shares of the basic materials company’s stock after selling 325 shares during the period. 1832 Asset Management L.P.’s holdings in Nucor were worth $3,375,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. SVB Wealth LLC lifted its holdings in shares of Nucor by 1.5% during the fourth quarter. SVB Wealth LLC now owns 3,656 shares of the basic materials company’s stock worth $636,000 after buying an additional 54 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Nucor by 6.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the basic materials company’s stock valued at $151,000 after purchasing an additional 54 shares during the period. Kestra Private Wealth Services LLC grew its position in Nucor by 0.8% in the 4th quarter. Kestra Private Wealth Services LLC now owns 7,191 shares of the basic materials company’s stock worth $1,252,000 after purchasing an additional 55 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC increased its holdings in shares of Nucor by 36.6% during the 4th 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 period. Finally, Center for Financial Planning Inc. increased its holdings in shares of Nucor by 7.9% during the 4th quarter. Center for Financial Planning Inc. now owns 822 shares of the basic materials company’s stock worth $143,000 after purchasing an additional 60 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Buying and Selling at Nucor

In other news, EVP Douglas J. Jellison sold 19,506 shares of the 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 of the company’s stock, valued at $23,351,936.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Nucor news, EVP Allen C. Behr sold 10,000 shares of the company’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 transaction, the executive vice president now directly owns 80,902 shares in the company, valued at approximately $15,386,751.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Douglas J. Jellison sold 19,506 shares of the firm’s stock in a transaction dated 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 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 32,651 shares of company stock worth $6,283,648. 0.46% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NUE has been the topic of a number of recent research reports. Jefferies Financial Group initiated coverage on Nucor in a research report on Monday, May 20th. They set a “hold” rating and a $190.00 target price on the stock. StockNews.com cut Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. BMO Capital Markets dropped their price objective on shares of Nucor from $210.00 to $200.00 and set a “market perform” rating for the company in a research note on Wednesday, April 24th. Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and lifted their target price for the company from $180.00 to $240.00 in a research report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Nucor from $195.00 to $190.00 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $192.75.

Read Our Latest Analysis on Nucor

Nucor Stock Performance

NYSE NUE opened at $160.93 on Friday. Nucor Co. has a 1-year low of $140.07 and a 1-year high of $203.00. The company has a 50 day moving average of $178.80 and a 200-day moving average of $178.44. The company has a current ratio of 4.02, a quick ratio of 2.48 and a debt-to-equity ratio of 0.31. The firm has a market cap of $38.58 billion, a price-to-earnings ratio of 9.47 and a beta of 1.60.

Nucor (NYSE:NUEGet Free Report) last released its quarterly earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share 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 analyst estimates of $8.26 billion. Nucor had a net margin of 12.40% and a return on equity of 19.62%. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the prior year, the business earned $4.45 earnings per share. On average, equities analysts forecast that Nucor Co. will post 12.57 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Friday, June 28th. Nucor’s dividend payout ratio is currently 12.71%.

About Nucor

(Free Report)

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.

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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