Mutual of America Capital Management LLC Reduces Holdings in Nucor Co. (NYSE:NUE)

Mutual of America Capital Management LLC reduced its stake in shares of Nucor Co. (NYSE:NUEFree Report) by 3.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,829 shares of the basic materials company’s stock after selling 1,327 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Nucor were worth $5,446,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in NUE. Aptus Capital Advisors LLC grew its position in shares of Nucor by 17.7% during the third quarter. Aptus Capital Advisors LLC now owns 3,020 shares of the basic materials company’s stock worth $472,000 after acquiring an additional 455 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Nucor in the 3rd quarter worth about $386,000. HighTower Advisors LLC increased its stake in shares of Nucor by 2.2% in the third quarter. HighTower Advisors LLC now owns 56,584 shares of the basic materials company’s stock valued at $8,847,000 after purchasing an additional 1,211 shares during the period. Pathstone Family Office LLC raised its holdings in shares of Nucor by 268.5% during the third quarter. Pathstone Family Office LLC now owns 14,419 shares of the basic materials company’s stock valued at $2,255,000 after buying an additional 10,506 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co boosted its position in shares of Nucor by 21.9% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 9,881 shares of the basic materials company’s stock worth $1,547,000 after buying an additional 1,774 shares during the period. 77.76% of the stock is owned by institutional investors and hedge funds.

Nucor Price Performance

Shares of NYSE NUE opened at $186.54 on Monday. The firm has a 50-day moving average of $173.81 and a two-hundred day moving average of $164.50. The company has a market capitalization of $45.86 billion, a price-to-earnings ratio of 10.37 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 Co. has a twelve month low of $129.79 and a twelve month high of $190.96.

Nucor (NYSE:NUEGet Free Report) last released its earnings results on Monday, January 29th. The basic materials company reported $3.16 EPS for the quarter, beating the consensus estimate of $2.83 by $0.33. The business had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.64 billion. Nucor had a net margin of 13.03% and a return on equity of 21.42%. The business’s quarterly revenue was down 11.7% on a year-over-year basis. During the same period in the prior year, the business earned $4.89 earnings per share. As a group, analysts expect that Nucor Co. will post 12.53 earnings per share for the current fiscal year.

Nucor Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Friday, December 29th were issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.16%. This is a boost from Nucor’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Thursday, December 28th. Nucor’s payout ratio is presently 12.01%.

Analysts Set New Price Targets

A number of research analysts have issued reports on NUE shares. UBS Group began coverage on Nucor in a research report on Tuesday, January 16th. They set a “buy” rating and a $210.00 price target for the company. JPMorgan Chase & Co. upped their price objective on shares of Nucor from $151.00 to $158.00 and gave the stock a “neutral” rating in a report on Tuesday, December 12th. StockNews.com raised shares of Nucor from a “hold” rating to a “buy” rating in a research note on Tuesday, January 30th. Finally, Morgan Stanley reduced their price target on shares of Nucor from $162.00 to $154.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 31st. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $174.43.

View Our Latest Report on Nucor

Insider Transactions at Nucor

In related news, EVP Gregory J. Murphy sold 9,800 shares of the stock in a transaction on Monday, December 18th. The stock was sold at an average price of $177.05, for a total value of $1,735,090.00. Following the completion of the transaction, the executive vice president now owns 58,418 shares in the company, valued at approximately $10,342,906.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Nicholas C. Gangestad bought 1,000 shares of the business’s stock in a transaction on Tuesday, December 19th. The shares were bought at an average cost of $176.61 per share, with a total value of $176,610.00. Following the purchase, the director now directly owns 1,000 shares in the company, valued at $176,610. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Gregory J. Murphy sold 9,800 shares of Nucor stock in a transaction on Monday, December 18th. The shares were sold at an average price of $177.05, for a total value of $1,735,090.00. Following the transaction, the executive vice president now owns 58,418 shares in the company, valued at approximately $10,342,906.90. The disclosure for this sale can be found here. Insiders have sold 77,330 shares of company stock valued at $13,672,548 over the last three months. Company insiders own 0.46% of the company’s stock.

About Nucor

(Free Report)

Nucor Corporation engages in manufacture and sale of steel and steel products. The company's 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 products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products.

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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