International Assets Investment Management LLC raised its stake in shares of Nucor Co. (NYSE:NUE – Get Rating) by 4,788.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 68,388 shares of the basic materials company’s stock after buying an additional 66,989 shares during the period. International Assets Investment Management LLC’s holdings in Nucor were worth $509,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of NUE. Fairfield Bush & CO. purchased a new stake in Nucor in the 1st quarter worth $48,000. Synovus Financial Corp raised its position in shares of Nucor by 150.6% in the first quarter. Synovus Financial Corp now owns 7,198 shares of the basic materials company’s stock valued at $1,067,000 after buying an additional 4,326 shares during the last quarter. Sei Investments Co. raised its position in shares of Nucor by 106.2% in the first quarter. Sei Investments Co. now owns 35,889 shares of the basic materials company’s stock valued at $5,328,000 after buying an additional 18,488 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of Nucor in the first quarter worth about $284,000. Finally, Brighton Jones LLC acquired a new position in Nucor during the first quarter worth about $222,000. Institutional investors and hedge funds own 78.33% of the company’s stock.
Nucor Stock Performance
NYSE NUE opened at $146.83 on Friday. The firm has a market capitalization of $36.99 billion, a P/E ratio of 5.11 and a beta of 1.56. Nucor Co. has a 1-year low of $100.13 and a 1-year high of $187.90. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.39 and a quick ratio of 2.13. The business’s 50-day simple moving average is $158.90 and its 200-day simple moving average is $145.97.
Nucor Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 11th. Shareholders of record on Friday, March 31st will be given a $0.51 dividend. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $2.04 dividend on an annualized basis and a yield of 1.39%. Nucor’s dividend payout ratio (DPR) is 7.10%.
Insider Activity
In other Nucor news, EVP Daniel R. Needham sold 5,000 shares of the company’s stock in a transaction dated Monday, January 30th. The shares were sold at an average price of $168.36, for a total value of $841,800.00. Following the completion of the sale, the executive vice president now directly owns 61,137 shares of the company’s stock, valued at approximately $10,293,025.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Nucor news, EVP Allen C. Behr sold 2,613 shares of the firm’s stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $168.00, for a total transaction of $438,984.00. Following the completion of the sale, the executive vice president now directly owns 57,121 shares in the company, valued at approximately $9,596,328. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Daniel R. Needham sold 5,000 shares of the company’s stock in a transaction on Monday, January 30th. The stock was sold at an average price of $168.36, for a total transaction of $841,800.00. Following the completion of the transaction, the executive vice president now directly owns 61,137 shares in the company, valued at $10,293,025.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,575 shares of company stock worth $1,630,000. 0.46% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the company. StockNews.com cut Nucor from a “buy” rating to a “hold” rating in a report on Thursday. Bank of America began coverage on Nucor in a report on Wednesday, January 4th. They issued a “buy” rating and a $172.00 price target for the company. Credit Suisse Group increased their price target on Nucor from $140.00 to $156.00 and gave the company an “outperform” rating in a report on Friday, March 17th. Morgan Stanley increased their price target on Nucor from $113.00 to $122.00 and gave the company an “equal weight” rating in a report on Monday, January 30th. Finally, BMO Capital Markets increased their price target on Nucor from $155.00 to $165.00 and gave the company a “market perform” rating in a report on Friday, January 27th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Nucor has a consensus rating of “Hold” and a consensus target price of $153.44.
Nucor Company Profile
Nucor Corp. engages in the manufacturing of steel and steel products. It operates through the following segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment consists of carbon and alloy steel in sheet, bars, structural and plate, steel trading businesses, rebar distribution businesses, and Nucor’s equity method investments.
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