First Citizens Bank & Trust Co. Sells 776 Shares of Nucor Co. (NYSE:NUE)

First Citizens Bank & Trust Co. trimmed its holdings in shares of Nucor Co. (NYSE:NUEFree Report) by 16.1% during the 4th quarter, Holdings Channel reports. The fund owned 4,049 shares of the basic materials company’s stock after selling 776 shares during the period. First Citizens Bank & Trust Co.’s holdings in Nucor were worth $705,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC grew its holdings in Nucor by 127,059.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 155,232,061 shares of the basic materials company’s stock worth $20,461,138,000 after acquiring an additional 155,109,984 shares in the last quarter. Geode Capital Management LLC grew its holdings in Nucor by 0.4% during the 1st quarter. Geode Capital Management LLC now owns 5,438,353 shares of the basic materials company’s stock worth $841,209,000 after acquiring an additional 23,366 shares in the last quarter. Morgan Stanley grew its holdings in Nucor by 30.0% during the 4th quarter. Morgan Stanley now owns 4,247,626 shares of the basic materials company’s stock worth $559,880,000 after acquiring an additional 979,824 shares in the last quarter. Northern Trust Corp grew its holdings in Nucor by 3.7% during the 3rd quarter. Northern Trust Corp now owns 4,175,571 shares of the basic materials company’s stock worth $652,851,000 after acquiring an additional 149,589 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Nucor by 7.6% in the 3rd 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. 76.48% of the stock is currently owned by institutional investors.

Nucor Stock Down 0.8 %

NUE stock opened at $198.37 on Wednesday. The firm has a 50 day moving average of $187.48 and a 200 day moving average of $170.05. The stock has a market capitalization of $47.60 billion, a PE ratio of 11.03 and a beta of 1.61. The company has a quick ratio of 2.35, a current ratio of 3.57 and a debt-to-equity ratio of 0.30. Nucor Co. has a 52 week low of $129.79 and a 52 week high of $201.52.

Nucor (NYSE:NUEGet Free Report) last posted its quarterly earnings results on Monday, January 29th. The basic materials company reported $3.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.33. Nucor had a net margin of 13.03% and a return on equity of 21.42%. The company had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.64 billion. During the same period last year, the firm posted $4.89 EPS. Nucor’s revenue for the quarter was down 11.7% compared to the same quarter last year. Sell-side analysts forecast that Nucor Co. will post 14.03 earnings per share for the current year.

Nucor Announces Dividend

The firm 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. This represents a $2.16 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Wednesday, March 27th. Nucor’s dividend payout ratio is presently 12.01%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NUE shares. JPMorgan Chase & Co. raised their price target on shares of Nucor from $151.00 to $158.00 and gave the company a “neutral” rating in a report on Tuesday, December 12th. UBS Group started coverage on shares of Nucor in a report on Tuesday, January 16th. They issued a “buy” rating and a $210.00 price target on the stock. StockNews.com cut shares of Nucor from a “buy” rating to a “hold” rating in a report on Wednesday, March 13th. Finally, Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and raised their price target for the company from $180.00 to $240.00 in a report on Wednesday, March 13th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Nucor presently has a consensus rating of “Hold” and an average price target of $186.67.

Read Our Latest Stock Report on Nucor

Insiders Place Their Bets

In other Nucor news, EVP Douglas J. Jellison sold 19,506 shares of the firm’s stock in a transaction that occurred on 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 directly owns 120,738 shares of the company’s stock, valued at approximately $23,351,936.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Douglas J. Jellison sold 19,506 shares of Nucor stock in a transaction that occurred on 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 directly owns 120,738 shares of the company’s stock, valued at approximately $23,351,936.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael D. Keller sold 3,145 shares of Nucor stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total transaction of $609,092.15. Following the transaction, the insider now directly owns 24,873 shares of the company’s stock, valued at $4,817,153.91. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,151 shares of company stock valued at $7,308,683. 0.64% of the stock is owned by insiders.

Nucor Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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