Nucor Co. (NYSE:NUE) Shares Sold by AMG National Trust Bank

AMG National Trust Bank lowered its stake in shares of Nucor Co. (NYSE:NUEFree Report) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,665 shares of the basic materials company’s stock after selling 105 shares during the period. AMG National Trust Bank’s holdings in Nucor were worth $986,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NUE. Keybank National Association OH raised its holdings in shares of Nucor by 3.4% during the 3rd quarter. Keybank National Association OH now owns 19,246 shares of the basic materials company’s stock worth $3,009,000 after acquiring an additional 639 shares during the period. Compagnie Lombard Odier SCmA purchased a new position in Nucor during the fourth quarter worth about $3,481,000. AIA Group Ltd raised its stake in Nucor by 53.2% during the fourth quarter. AIA Group Ltd now owns 13,226 shares of the basic materials company’s stock worth $2,302,000 after purchasing an additional 4,592 shares during the period. Sapient Capital LLC acquired a new position in Nucor in the 4th quarter valued at about $1,230,000. Finally, abrdn plc grew its stake in shares of Nucor by 41.7% in the 4th quarter. abrdn plc now owns 154,745 shares of the basic materials company’s stock valued at $26,932,000 after buying an additional 45,521 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Trading Down 0.8 %

Shares of NYSE NUE traded down $1.31 during trading on Friday, reaching $172.12. The stock had a trading volume of 1,245,035 shares, compared to its average volume of 1,584,862. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.48 and a current ratio of 4.02. The company has a market cap of $41.27 billion, a P/E ratio of 10.12 and a beta of 1.65. Nucor Co. has a fifty-two week low of $129.79 and a fifty-two week high of $203.00. The business’s 50-day moving average price is $185.97 and its 200-day moving average price is $177.13.

Nucor (NYSE:NUEGet Free Report) last released its earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share for the quarter, missing the consensus estimate of $3.62 by ($0.16). The firm had revenue of $8.14 billion during the quarter, compared to analyst estimates of $8.26 billion. Nucor had a net margin of 12.40% and a return on equity of 19.62%. The business’s revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.45 earnings per share. On average, equities research analysts predict that Nucor Co. will post 12.44 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Thursday, March 28th were paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.25%. The ex-dividend date was Wednesday, March 27th. Nucor’s payout ratio is currently 12.71%.

Insiders Place Their Bets

In related news, insider Michael D. Keller sold 3,145 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total transaction of $609,092.15. Following the completion of the transaction, the insider now directly owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Douglas J. Jellison sold 19,506 shares of Nucor stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the completion of the sale, the executive vice president now directly owns 120,738 shares of the company’s stock, valued at approximately $23,351,936.58. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael D. Keller sold 3,145 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the transaction, the insider now directly owns 24,873 shares of the company’s stock, valued at $4,817,153.91. The disclosure for this sale can be found here. Insiders have sold a total of 32,651 shares of company stock worth $6,283,648 in the last ninety days. 0.46% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NUE has been the topic of several analyst reports. BMO Capital Markets reduced their price target on shares of Nucor from $210.00 to $200.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 24th. JPMorgan Chase & Co. reduced their target price on Nucor from $195.00 to $190.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and increased their price target for the stock from $180.00 to $240.00 in a report on Wednesday, March 13th. Finally, StockNews.com lowered shares of Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Nucor currently has an average rating of “Hold” and an average target price of $193.14.

View Our Latest Stock Report on NUE

Nucor Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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