Transcend Capital Advisors LLC Lowers Position in Nucor Co. (NYSE:NUE)

Transcend Capital Advisors LLC trimmed its stake in Nucor Co. (NYSE:NUE) by 10.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,419 shares of the basic materials company’s stock after selling 165 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Nucor were worth $247,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Northern Trust Corp lifted its position in Nucor by 3.7% during the third quarter. Northern Trust Corp now owns 4,175,571 shares of the basic materials company’s stock valued at $652,851,000 after buying an additional 149,589 shares in the last quarter. Invesco Ltd. lifted its position in Nucor by 7.6% during the third quarter. Invesco Ltd. now owns 2,262,832 shares of the basic materials company’s stock valued at $353,794,000 after buying an additional 159,230 shares in the last quarter. Pacer Advisors Inc. lifted its position in Nucor by 13.0% during the fourth quarter. Pacer Advisors Inc. now owns 2,070,960 shares of the basic materials company’s stock valued at $360,430,000 after buying an additional 237,752 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Nucor by 0.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,463,589 shares of the basic materials company’s stock valued at $228,832,000 after buying an additional 11,541 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in Nucor by 2.1% during the fourth quarter. Nordea Investment Management AB now owns 1,094,177 shares of the basic materials company’s stock valued at $190,376,000 after buying an additional 22,596 shares in the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Nucor

In other news, EVP Douglas J. Jellison sold 19,506 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the completion of the transaction, the executive vice president now owns 120,738 shares in the company, valued at $23,351,936.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Douglas J. Jellison sold 19,506 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.41, for a total value of $3,772,655.46. Following the completion of the sale, the executive vice president now owns 120,738 shares of the company’s stock, valued at $23,351,936.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kenneth Rex Query sold 5,500 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the completion of the sale, the executive vice president now directly owns 85,326 shares of the company’s stock, valued at approximately $15,902,206.62. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,151 shares of company stock worth $7,308,683. Insiders own 0.64% of the company’s stock.

Nucor Stock Down 3.8 %

NUE stock opened at $168.53 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.02 and a quick ratio of 2.48. Nucor Co. has a 1-year low of $129.79 and a 1-year high of $203.00. The firm has a fifty day moving average price of $190.11 and a two-hundred day moving average price of $174.94. The firm has a market cap of $40.44 billion, a price-to-earnings ratio of 9.91 and a beta of 1.61.

Nucor (NYSE:NUE) last released its quarterly 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 firm had revenue of $8.14 billion for the quarter, compared to the consensus estimate of $8.26 billion. Nucor had a return on equity of 19.62% and a net margin of 12.40%. The firm’s revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.45 EPS. Research analysts predict that Nucor Co. will post 12.5 EPS for the current year.

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.28%. Nucor’s dividend payout ratio is currently 12.71%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. BMO Capital Markets reduced their price target on shares of Nucor from $210.00 to $200.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 24th. UBS Group started coverage on shares of Nucor in a research report on Tuesday, January 16th. They set a “buy” rating and a $210.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on shares of Nucor from $195.00 to $190.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. StockNews.com cut shares of Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Finally, Citigroup raised shares of Nucor from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.