M&T Bank Corp reduced its holdings in Nucor Co. (NYSE:NUE – Get Rating) by 15.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 125,581 shares of the basic materials company’s stock after selling 22,611 shares during the quarter. M&T Bank Corp’s holdings in Nucor were worth $13,439,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Lumature Wealth Partners LLC raised its position in Nucor by 4.0% during the 3rd quarter. Lumature Wealth Partners LLC now owns 1,983 shares of the basic materials company’s stock worth $212,000 after purchasing an additional 76 shares during the last quarter. Retirement Guys Formula LLC raised its holdings in Nucor by 1.9% during the 3rd quarter. Retirement Guys Formula LLC now owns 4,135 shares of the basic materials company’s stock worth $442,000 after purchasing an additional 79 shares during the last quarter. SRS Capital Advisors Inc. lifted its position in shares of Nucor by 2.0% in the 3rd quarter. SRS Capital Advisors Inc. now owns 4,088 shares of the basic materials company’s stock worth $437,000 after purchasing an additional 81 shares during the period. Equitable Holdings Inc. boosted its position in Nucor by 4.0% during the third quarter. Equitable Holdings Inc. now owns 2,092 shares of the basic materials company’s stock valued at $224,000 after acquiring an additional 81 shares during the last quarter. Finally, Laidlaw Wealth Management LLC grew its holdings in Nucor by 2.0% during the 3rd quarter. Laidlaw Wealth Management LLC now owns 4,301 shares of the basic materials company’s stock worth $460,000 after acquiring an additional 85 shares during the period. Institutional investors own 78.33% of the company’s stock.
Insider Transactions at Nucor
In related news, EVP Allen C. Behr sold 2,613 shares of the company’s stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $168.00, for a total transaction of $438,984.00. Following the sale, the executive vice president now owns 57,121 shares of the company’s stock, valued at approximately $9,596,328. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Nucor news, CEO Leon J. Topalian sold 3,000 shares of Nucor stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $134.71, for a total transaction of $404,130.00. Following the completion of the sale, the chief executive officer now owns 126,809 shares of the company’s stock, valued at $17,082,440.39. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Allen C. Behr sold 2,613 shares of the firm’s stock in a transaction dated Wednesday, February 1st. The shares were sold at an average price of $168.00, for a total value of $438,984.00. Following the transaction, the executive vice president now directly owns 57,121 shares in the company, valued at $9,596,328. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,575 shares of company stock valued at $2,034,130. 0.46% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Nucor Stock Down 7.3 %
Nucor stock opened at $144.81 on Thursday. Nucor Co. has a twelve month low of $100.13 and a twelve month high of $187.90. The company has a quick ratio of 2.13, a current ratio of 3.39 and a debt-to-equity ratio of 0.34. The firm has a 50 day moving average price of $162.68 and a 200-day moving average price of $143.02. The company has a market capitalization of $36.48 billion, a P/E ratio of 5.04 and a beta of 1.59.
Nucor (NYSE:NUE – Get Rating) last issued its quarterly earnings results on Thursday, January 26th. The basic materials company reported $4.89 EPS for the quarter, beating analysts’ consensus estimates of $4.18 by $0.71. The firm had revenue of $8.72 billion for the quarter, compared to analysts’ expectations of $8.54 billion. Nucor had a return on equity of 42.03% and a net margin of 18.33%. The business’s revenue for the quarter was down 15.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $7.97 EPS. As a group, equities analysts predict that Nucor Co. will post 14.12 EPS for the current year.
Nucor Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 11th. Stockholders of record on Friday, March 31st will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Thursday, March 30th. Nucor’s dividend payout ratio is presently 7.10%.
Nucor Company Profile
Nucor Corp. engages in the manufacturing of steel and steel products. It operates through the following segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment consists of carbon and alloy steel in sheet, bars, structural and plate, steel trading businesses, rebar distribution businesses, and Nucor’s equity method investments.
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