OLD National Bancorp IN Sells 951 Shares of Nucor Co. (NYSE:NUE)

OLD National Bancorp IN lowered its stake in Nucor Co. (NYSE:NUE) by 7.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,485 shares of the basic materials company’s stock after selling 951 shares during the period. OLD National Bancorp IN’s holdings in Nucor were worth $2,173,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of NUE. Criterion Capital Advisors LLC bought a new position in shares of Nucor in the fourth quarter worth $25,000. Valley National Advisers Inc. increased its position in shares of Nucor by 716.7% in the fourth 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. Householder Group Estate & Retirement Specialist LLC increased its position in shares of Nucor by 36.6% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 220 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 59 shares during the period. OFI Invest Asset Management bought a new position in shares of Nucor in the third quarter worth $40,000. Finally, Exchange Traded Concepts LLC increased its position in shares of Nucor by 2,410.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 251 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 241 shares during the period. Institutional investors own 76.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on NUE shares. Citigroup raised Nucor from a “neutral” rating to a “buy” rating and raised their price objective for the company from $180.00 to $240.00 in a research note on Wednesday, March 13th. StockNews.com raised Nucor from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. UBS Group started coverage on Nucor in a research note on Tuesday, January 16th. They issued a “buy” rating and a $210.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their price objective on Nucor from $180.00 to $195.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $192.83.

Nucor Stock Performance

Shares of NUE stock opened at $191.74 on Tuesday. The business’s 50-day moving average price is $191.30 and its 200-day moving average price is $174.06. Nucor Co. has a 12 month low of $129.79 and a 12 month high of $203.00. The firm has a market capitalization of $46.01 billion, a price-to-earnings ratio of 10.66 and a beta of 1.61. The company has a current ratio of 3.57, a quick ratio of 2.35 and a debt-to-equity ratio of 0.30.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, April 22nd. The basic materials company reported $3.46 EPS for the quarter, missing analysts’ consensus estimates of $3.60 by ($0.14). Nucor had a net margin of 13.03% and a return on equity of 21.42%. The firm had revenue of $8.14 billion for the quarter, compared to analyst estimates of $8.26 billion. During the same period in the previous year, the business posted $4.45 earnings per share. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. Equities research analysts forecast that Nucor Co. will post 12.93 EPS for the current year.

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Wednesday, March 27th. Nucor’s payout ratio is 12.01%.

Insider Activity

In other news, EVP Allen C. Behr sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $190.19, for a total transaction of $1,901,900.00. Following the completion of the transaction, the executive vice president now directly owns 80,902 shares in the company, valued at $15,386,751.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Michael D. Keller sold 3,145 shares of the firm’s 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 directly owns 24,873 shares in the company, valued at $4,817,153.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Allen C. Behr sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 38,151 shares of company stock valued at $7,308,683. 0.64% of the stock is currently owned by corporate insiders.

About Nucor

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.