Nucor Co. (NYSE:NUE) Shares Sold by Burney Co.

Burney Co. lowered its position in Nucor Co. (NYSE:NUE) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,776 shares of the basic materials company’s stock after selling 305 shares during the quarter. Burney Co.’s holdings in Nucor were worth $1,258,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its stake in shares of Nucor by 4.3% during the second quarter. Renaissance Technologies LLC now owns 9,700 shares of the basic materials company’s stock worth $1,533,000 after purchasing an additional 400 shares in the last quarter. Moors & Cabot Inc. lifted its holdings in Nucor by 20.3% during the 2nd quarter. Moors & Cabot Inc. now owns 3,576 shares of the basic materials company’s stock worth $565,000 after buying an additional 603 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its position in shares of Nucor by 5.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 108,428 shares of the basic materials company’s stock worth $17,129,000 after acquiring an additional 5,763 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Nucor by 1.8% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 24,504 shares of the basic materials company’s stock valued at $3,874,000 after acquiring an additional 436 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of Nucor by 13.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 31,652 shares of the basic materials company’s stock worth $4,992,000 after acquiring an additional 3,747 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NUE. The Goldman Sachs Group assumed coverage on shares of Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 target price on the stock. Citigroup dropped their price objective on shares of Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. UBS Group reiterated a “neutral” rating and set a $156.00 target price (down previously from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Morgan Stanley decreased their price target on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $165.63.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Allen C. Behr sold 4,968 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $159.72, for a total value of $793,488.96. Following the sale, the executive vice president now owns 85,376 shares of the company’s stock, valued at approximately $13,636,254.72. This represents a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kenneth Rex Query sold 9,000 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the completion of the transaction, the executive vice president now owns 98,770 shares of the company’s stock, valued at approximately $14,499,436. This represents a 8.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,680 shares of company stock valued at $4,773,724. Corporate insiders own 0.64% of the company’s stock.

Nucor Stock Up 0.3 %

Nucor stock opened at $123.48 on Friday. The stock’s 50 day moving average price is $134.96 and its 200 day moving average price is $144.94. Nucor Co. has a 1-year low of $112.25 and a 1-year high of $203.00. The company has a market cap of $29.00 billion, a PE ratio of 11.93 and a beta of 1.60. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61.

Nucor (NYSE:NUE) last issued its earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.40 by $0.09. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The company had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.28 billion. During the same period in the previous year, the firm earned $4.57 EPS. The business’s revenue was down 15.2% on a year-over-year basis. On average, sell-side analysts predict that Nucor Co. will post 8.19 EPS for the current fiscal year.

Nucor Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.55 per share. This is a positive change from Nucor’s previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Tuesday, December 31st. Nucor’s dividend payout ratio is presently 21.26%.

Nucor Company 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.