DoubleLine ETF Adviser LP Buys Shares of 26,558 Nucor Co. (NYSE:NUE)

DoubleLine ETF Adviser LP acquired a new position in shares of Nucor Co. (NYSE:NUE - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 26,558 shares of the basic materials company's stock, valued at approximately $3,100,000.

Several other large investors have also recently bought and sold shares of NUE. Voya Investment Management LLC increased its holdings in shares of Nucor by 528.6% in the 4th quarter. Voya Investment Management LLC now owns 507,715 shares of the basic materials company's stock valued at $59,235,000 after purchasing an additional 426,949 shares in the last quarter. Everence Capital Management Inc. purchased a new position in Nucor in the fourth quarter valued at about $565,000. InvesTrust acquired a new stake in shares of Nucor during the 4th quarter valued at approximately $4,388,000. Stephens Inc. AR boosted its stake in shares of Nucor by 38.0% during the 4th quarter. Stephens Inc. AR now owns 8,455 shares of the basic materials company's stock worth $987,000 after acquiring an additional 2,327 shares in the last quarter. Finally, Covea Finance purchased a new position in Nucor in the 4th quarter valued at approximately $5,836,000. Hedge funds and other institutional investors own 76.48% of the company's stock.

Nucor Trading Down 2.0 %

Shares of NYSE:NUE traded down $2.47 during trading on Monday, reaching $120.50. 1,368,340 shares of the stock were exchanged, compared to its average volume of 2,078,083. Nucor Co. has a 12-month low of $97.59 and a 12-month high of $176.59. The firm's 50-day moving average price is $120.78 and its 200 day moving average price is $130.45. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51. The firm has a market cap of $27.78 billion, a price-to-earnings ratio of 14.33, a price-to-earnings-growth ratio of 0.96 and a beta of 1.67.

Nucor (NYSE:NUE - Get Free Report) last announced 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). The company had revenue of $7.83 billion for the quarter, compared to analysts' expectations of $7.25 billion. Nucor had a net margin of 6.60% and a return on equity of 9.85%. The business's quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.46 earnings per share. On average, sell-side analysts anticipate that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Monday, March 31st. Nucor's dividend payout ratio (DPR) is 39.15%.

Analyst Ratings Changes

Several analysts have weighed in on NUE shares. StockNews.com lowered Nucor from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. dropped their target price on shares of Nucor from $156.00 to $140.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Morgan Stanley set a $164.00 price target on shares of Nucor in a report on Monday, March 24th. The Goldman Sachs Group dropped their price objective on shares of Nucor from $175.00 to $169.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Finally, Argus set a $155.00 target price on shares of Nucor in a report on Wednesday, March 5th. One equities 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target 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 transaction of $4,115,065.22. Following the sale, the chief executive officer now directly 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.46% of the stock is currently owned by company 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.