Cetera Advisor Networks LLC lowered its holdings in shares of Nucor Co. (NYSE:NUE) by 12.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,032 shares of the basic materials company’s stock after selling 1,569 shares during the quarter. Cetera Advisor Networks LLC’s holdings in Nucor were worth $705,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Barrett Asset Management LLC bought a new position in Nucor during the fourth quarter valued at $101,000. Cerebellum GP LLC bought a new position in Nucor during the fourth quarter valued at $131,000. Benjamin F. Edwards & Company Inc. lifted its position in Nucor by 791.0% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,673 shares of the basic materials company’s stock valued at $150,000 after purchasing an additional 2,373 shares during the last quarter. Dupont Capital Management Corp bought a new position in Nucor during the fourth quarter valued at $176,000. Finally, Checchi Capital Advisers LLC bought a new position in Nucor during the fourth quarter valued at $200,000. Institutional investors and hedge funds own 74.10% of the company’s stock.
NUE has been the subject of several research reports. ValuEngine upgraded shares of Nucor from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Zacks Investment Research lowered shares of Nucor from a “hold” rating to a “sell” rating in a research report on Tuesday, December 26th. Jefferies Group reiterated a “buy” rating and set a $76.00 price objective on shares of Nucor in a research report on Wednesday, January 31st. Cowen increased their price objective on shares of Nucor from $57.00 to $63.00 and gave the company a “market perform” rating in a research report on Monday, October 23rd. Finally, Bank of America set a $75.00 target price on shares of Nucor and gave the stock a “buy” rating in a report on Monday, January 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Nucor currently has a consensus rating of “Buy” and an average price target of $69.70.
In related news, Chairman John J. Ferriola sold 14,313 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $64.12, for a total value of $917,749.56. Following the transaction, the chairman now owns 333,775 shares of the company’s stock, valued at approximately $21,401,653. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert J. Stratman sold 39,037 shares of the firm’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $63.88, for a total transaction of $2,493,683.56. Following the completion of the transaction, the executive vice president now directly owns 233,824 shares in the company, valued at approximately $14,936,677.12. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.
Shares of Nucor Co. (NUE) opened at $68.54 on Monday. The stock has a market cap of $21,790.00, a PE ratio of 16.72, a PEG ratio of 1.17 and a beta of 1.56. The company has a quick ratio of 1.19, a current ratio of 2.42 and a debt-to-equity ratio of 0.36. Nucor Co. has a twelve month low of $51.67 and a twelve month high of $70.48.
Nucor (NYSE:NUE) last released its earnings results on Tuesday, January 30th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.10. The firm had revenue of $5.09 billion during the quarter, compared to analyst estimates of $4.86 billion. Nucor had a net margin of 6.58% and a return on equity of 13.03%. The business’s revenue was up 28.7% on a year-over-year basis. During the same quarter last year, the business earned $0.50 EPS. research analysts expect that Nucor Co. will post 4.87 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Friday, December 29th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.22%. The ex-dividend date was Thursday, December 28th. This is an increase from Nucor’s previous quarterly dividend of $0.38. Nucor’s dividend payout ratio (DPR) is currently 37.07%.
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Nucor Company Profile
Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).
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