Nucor Co. (NYSE:NUE) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its position in shares of Nucor Co. (NYSE:NUE - Free Report) by 10.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 135,087 shares of the basic materials company's stock after selling 16,170 shares during the period. Allspring Global Investments Holdings LLC owned about 0.05% of Nucor worth $23,511,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Nucor in the 3rd quarter worth about $25,000. Providence Capital Advisors LLC lifted its position in shares of Nucor by 15,470.4% in the 1st quarter. Providence Capital Advisors LLC now owns 4,204 shares of the basic materials company's stock worth $27,000 after purchasing an additional 4,177 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in shares of Nucor in the 1st quarter worth about $32,000. Valley National Advisers Inc. lifted its position in shares of Nucor by 716.7% in the 4th quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company's stock worth $34,000 after purchasing an additional 172 shares during the period. Finally, OFI Invest Asset Management purchased a new stake in shares of Nucor in the 3rd quarter worth about $40,000. Hedge funds and other institutional investors own 76.48% of the company's stock.

Insider Activity at Nucor

In other Nucor news, EVP Kenneth Rex Query sold 5,500 shares of Nucor stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the transaction, the executive vice president now owns 85,326 shares of the company's stock, valued at $15,902,206.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Allen C. Behr sold 10,000 shares of the business's stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total value of $1,901,900.00. Following the transaction, the executive vice president now owns 80,902 shares of the company's stock, valued at $15,386,751.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kenneth Rex Query sold 5,500 shares of the business's stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the completion of the transaction, the executive vice president now directly owns 85,326 shares in the company, valued at approximately $15,902,206.62. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,151 shares of company stock worth $7,308,683. 0.46% of the stock is owned by company insiders.

Nucor Stock Performance

Shares of NUE stock traded down $2.81 during trading hours on Friday, reaching $194.53. The company had a trading volume of 1,186,437 shares, compared to its average volume of 1,050,071. The business has a fifty day moving average price of $190.42 and a 200-day moving average price of $172.55. Nucor Co. has a one year low of $129.79 and a one year high of $203.00. The firm has a market cap of $46.68 billion, a PE ratio of 10.81 and a beta of 1.61. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.35 and a current ratio of 3.57.

Nucor (NYSE:NUE - Get Free Report) last announced its earnings results on Monday, January 29th. The basic materials company reported $3.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.33. The company had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.64 billion. Nucor had a net margin of 13.03% and a return on equity of 21.42%. The firm's quarterly revenue was down 11.7% compared to the same quarter last year. During the same period in the previous year, the business posted $4.89 earnings per share. Sell-side analysts predict that Nucor Co. will post 13 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Thursday, March 28th will be given a dividend of $0.54 per share. The ex-dividend date is Wednesday, March 27th. This represents a $2.16 annualized dividend and a yield of 1.11%. Nucor's dividend payout ratio (DPR) is 12.01%.

Wall Street Analysts Forecast Growth

NUE has been the subject of a number of recent research reports. StockNews.com raised shares of Nucor from a "hold" rating to a "buy" rating in a research report on Wednesday. UBS Group initiated coverage on shares of Nucor in a research report on Tuesday, January 16th. They set a "buy" rating and a $210.00 price target for the company. Finally, Citigroup raised shares of Nucor from a "neutral" rating to a "buy" rating and lifted their price target for the company from $180.00 to $240.00 in a research report on Wednesday, March 13th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Nucor has a consensus rating of "Moderate Buy" and an average price target of $186.67.

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.