Federated Hermes Inc. Has $6.92 Million Stake in Nucor Co. (NYSE:NUE)

Federated Hermes Inc. cut its position in Nucor Co. (NYSE:NUE) by 52.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,785 shares of the basic materials company’s stock after selling 44,418 shares during the quarter. Federated Hermes Inc.’s holdings in Nucor were worth $6,924,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in NUE. Daiwa Securities Group Inc. lifted its stake in Nucor by 5.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 45,038 shares of the basic materials company’s stock worth $7,838,000 after purchasing an additional 2,434 shares during the last quarter. Tyche Wealth Partners LLC acquired a new stake in Nucor in the fourth quarter valued at about $384,000. SVB Wealth LLC grew its position in Nucor by 1.5% in the fourth quarter. SVB Wealth LLC now owns 3,656 shares of the basic materials company’s stock valued at $636,000 after acquiring an additional 54 shares during the last quarter. Waldron Private Wealth LLC raised its stake in Nucor by 2.5% during the fourth quarter. Waldron Private Wealth LLC now owns 3,018 shares of the basic materials company’s stock worth $525,000 after acquiring an additional 73 shares in the last quarter. Finally, Strs Ohio lifted its holdings in shares of Nucor by 211.8% in the fourth quarter. Strs Ohio now owns 101,091 shares of the basic materials company’s stock worth $17,593,000 after acquiring an additional 68,668 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Trading Down 1.1 %

Shares of NUE stock opened at $172.76 on Thursday. Nucor Co. has a 1-year low of $129.79 and a 1-year high of $203.00. The company has a current ratio of 4.02, a quick ratio of 2.35 and a debt-to-equity ratio of 0.31. The stock has a market cap of $41.46 billion, a price-to-earnings ratio of 10.16 and a beta of 1.61. The stock has a 50-day moving average of $191.04 and a 200-day moving average of $174.17.

Nucor (NYSE:NUE) last announced its earnings results on Monday, April 22nd. The basic materials company reported $3.46 EPS for the quarter, missing the consensus estimate of $3.62 by ($0.16). The company had revenue of $8.14 billion during the quarter, compared to the consensus estimate of $8.26 billion. Nucor had a net margin of 12.40% and a return on equity of 19.62%. The business’s revenue was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.45 earnings per share. On average, equities research analysts forecast that Nucor Co. will post 12.93 earnings per share for the current year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Thursday, March 28th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.16 annualized dividend and a yield of 1.25%. Nucor’s payout ratio is 12.71%.

Insiders Place Their Bets

In other news, EVP Allen C. Behr sold 10,000 shares of the business’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 directly owns 80,902 shares of the company’s stock, valued at approximately $15,386,751.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Allen C. Behr sold 10,000 shares of the stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total transaction 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 $15,386,751.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael D. Keller sold 3,145 shares of Nucor stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total transaction of $609,092.15. Following the completion of the sale, the insider now directly owns 24,873 shares of the company’s stock, valued at $4,817,153.91. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,151 shares of company stock worth $7,308,683. Company insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on NUE shares. BMO Capital Markets decreased their price target on shares of Nucor from $210.00 to $200.00 and set a “market perform” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. dropped their price target on Nucor from $195.00 to $190.00 and set a “neutral” rating for the company in a research note on Wednesday. UBS Group assumed coverage on Nucor in a research report on Tuesday, January 16th. They set a “buy” rating and a $210.00 price objective on the stock. Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and increased their target price for the company from $180.00 to $240.00 in a research report on Wednesday, March 13th. Finally, StockNews.com cut Nucor from a “buy” rating to a “hold” rating in a report on Tuesday. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $193.14.

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.