Czech National Bank increased its position in shares of Nucor Co. (NYSE:NUE – Free Report) by 5.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 50,913 shares of the basic materials company’s stock after buying an additional 2,565 shares during the quarter. Czech National Bank’s holdings in Nucor were worth $5,942,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently added to or reduced their stakes in NUE. Widmann Financial Services Inc. grew its position in shares of Nucor by 4.0% during the third quarter. Widmann Financial Services Inc. now owns 1,800 shares of the basic materials company’s stock worth $271,000 after acquiring an additional 70 shares during the last quarter. Brighton Jones LLC boosted its stake in Nucor by 3.3% during the 2nd quarter. Brighton Jones LLC now owns 2,218 shares of the basic materials company’s stock worth $351,000 after purchasing an additional 71 shares during the period. Salomon & Ludwin LLC grew its position in Nucor by 45.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 72 shares during the last quarter. First Trust Direct Indexing L.P. increased its stake in Nucor by 1.4% in the third quarter. First Trust Direct Indexing L.P. now owns 5,467 shares of the basic materials company’s stock valued at $822,000 after purchasing an additional 74 shares during the period. Finally, Mirador Capital Partners LP raised its holdings in shares of Nucor by 1.5% in the third quarter. Mirador Capital Partners LP now owns 5,250 shares of the basic materials company’s stock valued at $789,000 after buying an additional 77 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.
Insider Buying and Selling
In other Nucor news, CEO Leon J. Topalian sold 11,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total value of $1,860,210.00. Following the sale, the chief executive officer now owns 172,136 shares of the company’s stock, valued at $29,109,918.96. This represents a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Stephen D. Laxton sold 4,712 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total transaction of $798,825.36. Following the completion of the sale, the chief financial officer now owns 82,132 shares in the company, valued at $13,923,837.96. This represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,680 shares of company stock worth $4,773,724 in the last quarter. Company insiders own 0.46% of the company’s stock.
Nucor Trading Down 0.9 %
Nucor (NYSE:NUE – Get Free Report) last announced its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.09. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The business’s revenue was down 15.2% compared to the same quarter last year. During the same quarter last year, the firm posted $4.57 EPS. As a group, sell-side analysts anticipate that Nucor Co. will post 8.48 earnings per share for the current fiscal year.
Nucor Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.55 per share. This is a positive change from Nucor’s previous quarterly dividend of $0.54. The ex-dividend date is Tuesday, December 31st. This represents a $2.20 annualized dividend and a dividend yield of 1.81%. Nucor’s payout ratio is 21.26%.
Analyst Ratings Changes
NUE has been the topic of a number of research reports. Morgan Stanley lowered their price target on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their target price on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. The Goldman Sachs Group assumed coverage on Nucor in a research note on Monday, December 2nd. They set a “buy” rating and a $190.00 price target for the company. BMO Capital Markets decreased their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. Finally, Citigroup dropped their price objective on shares of Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $165.63.
Get Our Latest Report on Nucor
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.
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