Cadence Capital Management LLC decreased its holdings in Nucor Co. (NYSE:NUE) by 4.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 16,510 shares of the basic materials company’s stock after selling 733 shares during the quarter. Cadence Capital Management LLC’s holdings in Nucor were worth $963,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BOKF NA raised its holdings in Nucor by 8.8% in the fourth quarter. BOKF NA now owns 8,097 shares of the basic materials company’s stock valued at $420,000 after acquiring an additional 656 shares in the last quarter. Empowered Funds LLC acquired a new stake in Nucor in the fourth quarter valued at approximately $2,054,000. Oakbrook Investments LLC raised its holdings in Nucor by 77.1% in the first quarter. Oakbrook Investments LLC now owns 28,620 shares of the basic materials company’s stock valued at $1,670,000 after acquiring an additional 12,460 shares in the last quarter. MU Investments Co. Ltd. acquired a new stake in Nucor in the fourth quarter valued at approximately $5,079,000. Finally, BlackRock Inc. raised its holdings in Nucor by 3.4% in the fourth quarter. BlackRock Inc. now owns 23,134,435 shares of the basic materials company’s stock valued at $1,198,595,000 after acquiring an additional 764,927 shares in the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

NUE stock opened at $53.29 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.64 and a current ratio of 3.37. Nucor Co. has a twelve month low of $49.79 and a twelve month high of $68.84. The company has a market cap of $16.24 billion, a price-to-earnings ratio of 6.99, a P/E/G ratio of 0.77 and a beta of 1.46.

Nucor (NYSE:NUE) last released its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.05. Nucor had a net margin of 9.80% and a return on equity of 24.86%. The company had revenue of $6.10 billion for the quarter, compared to analysts’ expectations of $6.05 billion. During the same quarter last year, the company earned $1.17 earnings per share. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, analysts predict that Nucor Co. will post 5.74 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, March 29th were issued a dividend of $0.40 per share. The ex-dividend date was Thursday, March 28th. This represents a $1.60 dividend on an annualized basis and a yield of 3.00%. Nucor’s payout ratio is currently 21.00%.

In other Nucor news, Chairman John J. Ferriola sold 65,061 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $56.20, for a total transaction of $3,656,428.20. Following the sale, the chairman now owns 403,735 shares of the company’s stock, valued at $22,689,907. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Raymond S. Napolitan, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $58.28, for a total transaction of $582,800.00. Following the sale, the insider now directly owns 96,778 shares in the company, valued at approximately $5,640,221.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,314 shares of company stock worth $4,310,637. 0.96% of the stock is owned by corporate insiders.

Several analysts recently weighed in on the stock. Longbow Research cut shares of Nucor from a “buy” rating to a “neutral” rating in a report on Monday, March 11th. Zacks Investment Research cut shares of Nucor from a “hold” rating to a “strong sell” rating in a report on Friday, February 1st. Standpoint Research raised shares of Nucor from a “hold” rating to a “buy” rating in a report on Monday, March 18th. ValuEngine cut shares of Nucor from a “hold” rating to a “sell” rating in a report on Thursday, February 14th. Finally, UBS Group set a $59.00 target price on shares of Nucor and gave the company a “hold” rating in a report on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. Nucor currently has a consensus rating of “Buy” and an average target price of $70.00.

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About Nucor

Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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