BB&T Securities LLC trimmed its position in shares of Nucor Co. (NYSE:NUE) by 17.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 124,673 shares of the basic materials company’s stock after selling 26,126 shares during the quarter. BB&T Securities LLC’s holdings in Nucor were worth $7,926,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Independence Bank of Kentucky purchased a new stake in Nucor during the 4th quarter valued at about $100,000. Barrett Asset Management LLC bought a new position in Nucor during the 4th quarter valued at about $101,000. Cerebellum GP LLC bought a new position in Nucor during the 4th quarter valued at about $131,000. Financial Gravity Companies Inc. bought a new position in Nucor during the 4th quarter valued at about $140,000. Finally, Dupont Capital Management Corp bought a new position in Nucor during the 4th quarter valued at about $176,000. 80.07% of the stock is currently owned by institutional investors.
Shares of NUE stock opened at $64.20 on Wednesday. The stock has a market cap of $21,171.40, a P/E ratio of 15.51, a P/E/G ratio of 1.08 and a beta of 1.51. Nucor Co. has a fifty-two week low of $51.67 and a fifty-two week high of $70.48. 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 (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 company 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 firm’s quarterly revenue was up 28.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 EPS. analysts predict that Nucor Co. will post 5.12 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 11th. Investors of record on Thursday, March 29th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Wednesday, March 28th. Nucor’s dividend payout ratio is 36.72%.
In related news, EVP Robert J. Stratman sold 39,037 shares of the stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $63.88, for a total value of $2,493,683.56. Following the completion of the sale, the executive vice president now directly owns 233,824 shares of the company’s stock, valued at approximately $14,936,677.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Victoria F. Haynes sold 3,000 shares of the stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $69.12, for a total transaction of $207,360.00. Following the completion of the sale, the director now directly owns 30,573 shares of the company’s stock, valued at $2,113,205.76. The disclosure for this sale can be found here. Insiders sold a total of 95,387 shares of company stock valued at $6,285,411 over the last three months. 0.70% of the stock is currently owned by insiders.
Several equities analysts have issued reports on NUE shares. Zacks Investment Research cut shares of Nucor from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. ValuEngine upgraded shares of Nucor from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Jefferies Group restated a “buy” rating and set a $77.00 target price on shares of Nucor in a research note on Tuesday, January 9th. Goldman Sachs started coverage on shares of Nucor in a research note on Tuesday. They set a “buy” rating and a $78.00 target price on the stock. Finally, Longbow Research upgraded shares of Nucor from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. Nucor presently has a consensus rating of “Buy” and a consensus target price of $70.22.
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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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