Prime Capital Investment Advisors LLC reduced its position in Nucor Corporation (NYSE:NUE - Free Report) by 74.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,750 shares of the basic materials company's stock after selling 7,924 shares during the period. Prime Capital Investment Advisors LLC's holdings in Nucor were worth $449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently made changes to their positions in the company. Stance Capital LLC acquired a new position in shares of Nucor in the 3rd quarter valued at $25,000. AXS Investments LLC acquired a new position in shares of Nucor in the 3rd quarter valued at $37,000. Vision Financial Markets LLC lifted its stake in shares of Nucor by 281.7% in the 3rd quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company's stock valued at $37,000 after purchasing an additional 200 shares during the period. Caitlin John LLC acquired a new position in shares of Nucor in the 3rd quarter valued at $41,000. Finally, Salomon & Ludwin LLC lifted its stake in shares of Nucor by 45.5% in the 3rd quarter. Salomon & Ludwin LLC now owns 320 shares of the basic materials company's stock valued at $44,000 after purchasing an additional 100 shares during the period. 76.48% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Nucor news, EVP Kenneth Rex Query sold 7,452 shares of Nucor stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $196.02, for a total transaction of $1,460,741.04. Following the sale, the executive vice president owned 76,628 shares of the company's stock, valued at $15,020,620.56. The trade was a 8.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Allen C. Behr sold 7,568 shares of Nucor stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $188.50, for a total transaction of $1,426,568.00. Following the sale, the executive vice president directly owned 67,711 shares in the company, valued at approximately $12,763,523.50. This trade represents a 10.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 26,401 shares of company stock valued at $4,936,152 in the last 90 days. 0.62% of the stock is owned by insiders.
Nucor Price Performance
Shares of NYSE NUE opened at $189.61 on Tuesday. The firm has a market cap of $43.16 billion, a PE ratio of 25.15, a PEG ratio of 0.66 and a beta of 1.73. The firm has a fifty day moving average of $175.53 and a 200 day moving average of $162.68. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.94. Nucor Corporation has a one year low of $105.92 and a one year high of $196.90.
Nucor (NYSE:NUE - Get Free Report) last issued its quarterly earnings results on Monday, January 26th. The basic materials company reported $1.73 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.18). The company had revenue of $7.69 billion during the quarter, compared to analysts' expectations of $7.93 billion. Nucor had a return on equity of 8.26% and a net margin of 5.37%.Nucor's revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.22 EPS. As a group, research analysts predict that Nucor Corporation will post 7.64 EPS for the current fiscal year.
Nucor announced that its Board of Directors has initiated a stock repurchase program on Friday, February 20th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the basic materials company to reacquire up to 9.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.
Nucor Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 11th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, March 31st. Nucor's payout ratio is 29.71%.
Analyst Ratings Changes
Several equities analysts recently issued reports on NUE shares. KeyCorp started coverage on shares of Nucor in a research note on Wednesday, March 25th. They issued a "sector weight" rating for the company. Jefferies Financial Group boosted their target price on shares of Nucor from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Friday. Morgan Stanley reiterated an "equal weight" rating and issued a $180.00 target price (up from $165.00) on shares of Nucor in a research note on Friday, January 9th. The Goldman Sachs Group started coverage on shares of Nucor in a research note on Wednesday, April 1st. They issued a "buy" rating and a $210.00 target price for the company. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Nucor in a research note on Monday, December 29th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $192.80.
View Our Latest Report on Nucor
About Nucor
(
Free Report)
Nucor Corporation NYSE: NUE is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor's operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.
Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.
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