Court Place Advisors LLC Sells 300 Shares of Nucor Co. (NYSE:NUE)

Court Place Advisors LLC lowered its position in shares of Nucor Co. (NYSE:NUE) by 13.2% during the fourth quarter, HoldingsChannel reports. The fund owned 1,975 shares of the basic materials company’s stock after selling 300 shares during the quarter. Court Place Advisors LLC’s holdings in Nucor were worth $231,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp grew its holdings in shares of Nucor by 2.9% during the third quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock worth $1,724,117,000 after purchasing an additional 326,181 shares during the last quarter. National Pension Service grew its holdings in Nucor by 3.2% during the 3rd quarter. National Pension Service now owns 652,502 shares of the basic materials company’s stock worth $98,097,000 after acquiring an additional 20,258 shares during the last quarter. Everence Capital Management Inc. acquired a new position in Nucor in the 4th quarter valued at approximately $565,000. BIP Wealth LLC bought a new position in shares of Nucor during the third quarter valued at $681,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Nucor by 1.3% during the third quarter. Geode Capital Management LLC now owns 5,861,945 shares of the basic materials company’s stock worth $883,732,000 after purchasing an additional 74,569 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Activity

In other Nucor news, CEO Leon J. Topalian sold 11,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the transaction, the chief executive officer now owns 172,136 shares in the company, valued at approximately $29,109,918.96. This represents a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Stephen D. Laxton sold 4,712 shares of Nucor stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total transaction of $798,825.36. Following the transaction, the chief financial officer now owns 82,132 shares of the company’s stock, valued at $13,923,837.96. This represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,680 shares of company stock worth $3,452,524 in the last three months. Company insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. The Goldman Sachs Group began coverage on Nucor in a report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective for the company. UBS Group reissued a “neutral” rating and issued a $156.00 price target (down previously from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Jefferies Financial Group cut their price objective on Nucor from $150.00 to $125.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. Citigroup decreased their target price on shares of Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, Morgan Stanley lowered their price target on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.63.

Nucor Trading Down 0.2 %

Shares of NUE stock opened at $121.98 on Tuesday. Nucor Co. has a fifty-two week low of $112.25 and a fifty-two week high of $203.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59. The stock has a 50 day simple moving average of $130.66 and a two-hundred day simple moving average of $143.34. The company has a market cap of $28.64 billion, a P/E ratio of 11.79 and a beta of 1.60.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, topping the consensus estimate of $0.94 by $0.28. Nucor had a net margin of 8.05% and a return on equity of 12.06%. During the same quarter in the prior year, the business posted $3.16 earnings per share. Research analysts forecast that Nucor Co. will post 8.18 earnings per share for the current year.

Nucor Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Tuesday, December 31st. This is a boost from Nucor’s previous quarterly dividend of $0.54. Nucor’s dividend payout ratio is 21.26%.

About Nucor

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.