Nucor Co. (NYSE:NUE) Shares Sold by Rovin Capital UT ADV

Rovin Capital UT ADV trimmed its stake in Nucor Co. (NYSE:NUE) by 21.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,269 shares of the basic materials company’s stock after selling 614 shares during the quarter. Rovin Capital UT ADV’s holdings in Nucor were worth $265,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in NUE. State Street Corp boosted its position in Nucor by 2.9% during the third quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock worth $1,724,117,000 after acquiring an additional 326,181 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Nucor by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,861,945 shares of the basic materials company’s stock worth $883,732,000 after purchasing an additional 74,569 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Nucor by 19.8% during the third quarter. Pacer Advisors Inc. now owns 3,456,484 shares of the basic materials company’s stock worth $519,648,000 after purchasing an additional 571,682 shares during the last quarter. Legal & General Group Plc grew its position in shares of Nucor by 3.2% in the second quarter. Legal & General Group Plc now owns 2,160,803 shares of the basic materials company’s stock valued at $341,580,000 after purchasing an additional 67,974 shares during the period. Finally, Nordea Investment Management AB increased its stake in Nucor by 25.6% in the fourth quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company’s stock valued at $205,282,000 after purchasing an additional 358,721 shares during the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Nucor news, CFO Stephen D. Laxton sold 4,712 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total value of $798,825.36. Following the transaction, the chief financial officer now directly owns 82,132 shares of the company’s stock, valued at $13,923,837.96. This represents a 5.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kenneth Rex Query sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the sale, the executive vice president now directly owns 98,770 shares of the company’s stock, valued at $14,499,436. The trade was a 8.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,680 shares of company stock worth $4,773,724. 0.64% of the stock is currently owned by company insiders.

Nucor Stock Up 0.3 %

Shares of Nucor stock opened at $123.48 on Friday. The company has a fifty day moving average price of $134.96 and a 200 day moving average price of $144.94. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. Nucor Co. has a twelve month low of $112.25 and a twelve month high of $203.00. The stock has a market cap of $29.00 billion, a price-to-earnings ratio of 11.93 and a beta of 1.60.

Nucor (NYSE:NUE) last posted its 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 analyst estimates of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The company’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same quarter last year, the firm earned $4.57 earnings per share. Equities research analysts forecast that Nucor Co. will post 8.19 earnings per share for the current fiscal year.

Nucor Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.55 per share. This is a boost from Nucor’s previous quarterly dividend of $0.54. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Tuesday, December 31st. Nucor’s payout ratio is presently 21.26%.

Analyst Ratings Changes

Several research firms have commented on NUE. JPMorgan Chase & Co. lowered their price target on Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. UBS Group restated a “neutral” rating and issued a $156.00 target price (down from $171.00) on shares of Nucor in a report on Thursday, December 12th. Morgan Stanley cut their price target on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Jefferies Financial Group lowered their price objective on shares of Nucor from $150.00 to $125.00 and set a “hold” rating for the company in a research note on Monday, January 6th. Finally, Citigroup cut their target price on Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Four equities 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.63.

Nucor 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.