National Bank of Canada FI Raises Stock Holdings in Nucor Co. (NYSE:NUE)

National Bank of Canada FI boosted its holdings in shares of Nucor Co. (NYSE:NUE) by 11.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,489 shares of the basic materials company’s stock after purchasing an additional 6,198 shares during the quarter. National Bank of Canada FI’s holdings in Nucor were worth $10,962,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Measured Wealth Private Client Group LLC increased its stake in shares of Nucor by 4.1% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 4,387 shares of the basic materials company’s stock worth $764,000 after buying an additional 171 shares during the last quarter. Sapient Capital LLC acquired a new stake in shares of Nucor in the 4th quarter valued at about $1,243,000. Axxcess Wealth Management LLC acquired a new position in Nucor in the fourth quarter worth about $1,511,000. U.S. Capital Wealth Advisors LLC increased its holdings in Nucor by 7.4% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 3,925 shares of the basic materials company’s stock valued at $683,000 after buying an additional 271 shares during the last quarter. Finally, Beacon Harbor Wealth Advisors Inc. bought a new stake in Nucor in the fourth quarter valued at about $209,000. 76.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NUE has been the subject of several research reports. Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. JPMorgan Chase & Co. lowered their target price on shares of Nucor from $195.00 to $190.00 and set a “neutral” rating for the company in a research note on Wednesday, April 24th. StockNews.com lowered shares of Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. BMO Capital Markets decreased their target price on Nucor from $210.00 to $200.00 and set a “market perform” rating for the company in a research note on Wednesday, April 24th. Finally, UBS Group began coverage on Nucor in a report on Tuesday, January 16th. They issued a “buy” rating and a $210.00 price target on the stock. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $193.14.

Insider Transactions at Nucor

In other news, EVP Allen C. Behr sold 10,000 shares of the business’s stock in a transaction on 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 sale, the executive vice president now owns 80,902 shares of the company’s stock, valued at approximately $15,386,751.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Douglas J. Jellison sold 19,506 shares of Nucor stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $193.41, for a total value of $3,772,655.46. Following the transaction, the executive vice president now directly owns 120,738 shares in the company, valued at approximately $23,351,936.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Allen C. Behr sold 10,000 shares of the business’s stock in a transaction on 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 sale, the executive vice president now directly owns 80,902 shares in the company, valued at $15,386,751.38. The disclosure for this sale can be found here. In the last three months, insiders sold 32,651 shares of company stock valued at $6,283,648. Company insiders own 0.46% of the company’s stock.

Nucor Stock Performance

Shares of NYSE NUE opened at $169.81 on Thursday. Nucor Co. has a 12-month low of $129.79 and a 12-month high of $203.00. The company has a market cap of $40.75 billion, a PE ratio of 9.99 and a beta of 1.65. The stock has a 50 day simple moving average of $187.87 and a 200-day simple moving average of $175.79. The company has a current ratio of 4.02, a quick ratio of 2.48 and a debt-to-equity ratio of 0.31.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). Nucor had a return on equity of 19.62% and a net margin of 12.40%. The business had revenue of $8.14 billion for the quarter, compared to analyst estimates of $8.26 billion. During the same quarter last year, the firm posted $4.45 EPS. The company’s revenue was down 6.6% compared to the same quarter last year. On average, equities research analysts forecast that Nucor Co. will post 12.55 EPS for the current year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.54 per share. The ex-dividend date is Wednesday, March 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.27%. Nucor’s dividend payout ratio (DPR) is 12.71%.

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.