Independence Bank of Kentucky Lowers Position in Nucor Co. (NYSE:NUE)

Independence Bank of Kentucky reduced its stake in Nucor Co. (NYSE:NUEFree Report) by 11.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 593 shares of the basic materials company’s stock after selling 75 shares during the quarter. Independence Bank of Kentucky’s holdings in Nucor were worth $103,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Nucor during the 3rd quarter valued at $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in shares of Nucor during the 1st quarter valued at $32,000. VisionPoint Advisory Group LLC purchased a new stake in shares of Nucor during the 2nd quarter valued at $39,000. Chilton Capital Management LLC increased its position in shares of Nucor by 260.9% during the 2nd quarter. Chilton Capital Management LLC now owns 249 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 180 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its position in shares of Nucor by 2,410.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 251 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 241 shares during the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Trading Up 0.9 %

Shares of NUE opened at $200.15 on Thursday. The business has a 50-day moving average of $187.48 and a 200 day moving average of $170.05. Nucor Co. has a fifty-two week low of $129.79 and a fifty-two week high of $202.89. The firm has a market cap of $48.03 billion, a P/E ratio of 11.13 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:NUEGet Free Report) last announced its quarterly earnings data on Monday, January 29th. The basic materials company reported $3.16 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.33. Nucor had a return on equity of 21.42% and a net margin of 13.03%. The company had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.64 billion. During the same quarter last year, the firm posted $4.89 EPS. The firm’s revenue for the quarter was down 11.7% on a year-over-year basis. As a group, research analysts forecast that Nucor Co. will post 14.03 EPS for the current year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Wednesday, March 27th. Nucor’s payout ratio is presently 12.01%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NUE shares. JPMorgan Chase & Co. raised their target price on Nucor from $151.00 to $158.00 and gave the company a “neutral” rating in a research report on Tuesday, December 12th. Citigroup raised Nucor from a “neutral” rating to a “buy” rating and raised their target price for the company from $180.00 to $240.00 in a research report on Wednesday, March 13th. StockNews.com lowered Nucor from a “buy” rating to a “hold” rating in a research report on Wednesday, March 13th. Finally, UBS Group started coverage on Nucor in a research report on Tuesday, January 16th. They set a “buy” rating and a $210.00 target price for the company. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $186.67.

View Our Latest Analysis on Nucor

Insider Buying and Selling at Nucor

In other Nucor news, insider Michael D. Keller sold 3,145 shares of Nucor stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.67, for a total transaction of $609,092.15. Following the completion of the transaction, the insider now owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Nucor news, insider Michael D. Keller sold 3,145 shares of Nucor stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.67, for a total transaction of $609,092.15. Following the completion of the transaction, the insider now owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Allen C. Behr sold 10,000 shares of Nucor stock in a transaction dated 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 directly owns 80,902 shares of the company’s stock, valued at approximately $15,386,751.38. The disclosure for this sale can be found here. Insiders sold 38,151 shares of company stock valued at $7,308,683 in the last quarter. 0.46% of the stock is currently owned by corporate insiders.

Nucor Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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