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

Bridgeway Capital Management LLC reduced its holdings in shares of Nucor Co. (NYSE:NUE - Free Report) by 49.1% during the fourth quarter, according to its most recent disclosure 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 reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Marshall & Sterling Wealth Advisors Inc. bought a new position in Nucor during the fourth quarter valued at approximately $25,000. Crews Bank & Trust bought a new position in Nucor during the fourth quarter valued at approximately $29,000. New Wave Wealth Advisors LLC bought a new position in Nucor during the fourth quarter valued at approximately $33,000. Beacon Capital Management LLC grew its position in Nucor by 29.1% during the fourth quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company's stock valued at $49,000 after acquiring an additional 94 shares during the last quarter. Finally, Millstone Evans Group LLC bought a new position in Nucor during the fourth quarter valued at approximately $50,000. 76.48% of the stock is currently owned by institutional investors.

Nucor Trading Down 1.5%

Shares of NYSE:NUE traded down $1.83 on Wednesday, hitting $117.13. The company had a trading volume of 1,864,769 shares, compared to its average volume of 2,104,886. The firm's 50-day simple moving average is $118.53 and its two-hundred day simple moving average is $129.11. Nucor Co. has a 1 year low of $97.59 and a 1 year high of $176.59. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $27.00 billion, a price-to-earnings ratio of 13.93, a P/E/G ratio of 0.96 and a beta of 1.73.

Nucor (NYSE:NUE - Get Free Report) last posted its earnings results on Monday, April 28th. The basic materials company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.15). Nucor had a return on equity of 9.85% and a net margin of 6.60%. The company had revenue of $7.83 billion during the quarter, compared to analysts' expectations of $7.25 billion. During the same period in the prior year, the business posted $3.46 earnings per share. The company's revenue for the quarter was down 3.8% on a year-over-year basis. Equities analysts anticipate that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 12th. Investors of record on Monday, March 31st were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.88%. The ex-dividend date was Monday, March 31st. Nucor's payout ratio is currently 39.15%.

Analyst Ratings Changes

NUE has been the topic of several recent analyst reports. Argus set a $155.00 target price on shares of Nucor in a report on Wednesday, March 5th. JPMorgan Chase & Co. decreased their price objective on shares of Nucor from $156.00 to $140.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. UBS Group raised shares of Nucor from a "neutral" rating to a "buy" rating and upped their price objective for the company from $156.00 to $160.00 in a research note on Monday, March 24th. Morgan Stanley set a $164.00 target price on shares of Nucor in a report on Monday, March 24th. Finally, StockNews.com downgraded Nucor from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $160.33.

Insiders Place Their Bets

In other news, CEO Leon J. Topalian sold 34,238 shares of Nucor stock in a transaction dated Thursday, May 1st. The stock was 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 $19,590,128.67. The trade was a 17.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.46% of the company's stock.

Nucor 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.