Bridgeway Capital Management LLC Trims Stock Position in Nucor Co. (NYSE:NUE)

Bridgeway Capital Management LLC trimmed its stake in Nucor Co. (NYSE:NUE) by 49.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,070 shares of the basic materials company’s stock after selling 12,600 shares during the period. Bridgeway Capital Management LLC’s holdings in Nucor were worth $1,525,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NUE. Norges Bank acquired a new position in shares of Nucor in the 4th quarter valued at $398,077,000. First Trust Advisors LP increased its stake in Nucor by 24.6% in the fourth quarter. First Trust Advisors LP now owns 2,404,477 shares of the basic materials company’s stock valued at $280,627,000 after purchasing an additional 474,274 shares during the period. Voya Investment Management LLC raised its holdings in shares of Nucor by 528.6% in the fourth quarter. Voya Investment Management LLC now owns 507,715 shares of the basic materials company’s stock valued at $59,235,000 after buying an additional 426,949 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Nucor by 18.7% during the fourth quarter. Invesco Ltd. now owns 2,435,265 shares of the basic materials company’s stock worth $284,220,000 after buying an additional 384,205 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Nucor during the fourth quarter worth about $38,714,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Trading Down 0.2 %

Shares of Nucor stock opened at $115.30 on Friday. The company has a 50-day moving average of $119.05 and a two-hundred day moving average of $129.42. Nucor Co. has a 12-month low of $97.59 and a 12-month high of $176.59. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. The stock has a market cap of $26.58 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 0.96 and a beta of 1.73.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, April 28th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.15). The firm had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.25 billion. Nucor had a return on equity of 9.85% and a net margin of 6.60%. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.46 earnings per share. On average, research analysts anticipate that Nucor Co. will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.20 annualized dividend and a dividend yield of 1.91%. Nucor’s dividend payout ratio is currently 39.15%.

Wall Street Analyst Weigh In

Several analysts have commented on NUE shares. Jefferies Financial Group upped their price objective on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Argus set a $155.00 price target on Nucor in a report on Wednesday, March 5th. UBS Group raised shares of Nucor from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $156.00 to $160.00 in a research note on Monday, March 24th. JPMorgan Chase & Co. reduced their target price on shares of Nucor from $156.00 to $140.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Finally, StockNews.com lowered shares of Nucor from a “hold” rating to a “sell” rating in a research note on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $160.33.

Insider Activity at Nucor

In related news, CEO Leon J. Topalian sold 34,238 shares of the business’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $120.19, for a total value of $4,115,065.22. Following the completion of the transaction, the chief executive officer now owns 162,993 shares of the company’s stock, valued at approximately $19,590,128.67. The trade was a 17.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is owned by corporate insiders.

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.