Independence Bank of Kentucky Sells 75 Shares of Nucor Co. (NYSE:NUE)

Independence Bank of Kentucky decreased its position in shares of Nucor Co. (NYSE:NUEFree Report) by 11.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 593 shares of the basic materials company’s stock after selling 75 shares during the quarter. Independence Bank of Kentucky’s holdings in Nucor were worth $103,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of NUE. Fairfield Bush & CO. acquired a new stake in Nucor during the 1st quarter worth approximately $48,000. Synovus Financial Corp raised its holdings in Nucor by 150.6% during the 1st quarter. Synovus Financial Corp now owns 7,198 shares of the basic materials company’s stock worth $1,067,000 after buying an additional 4,326 shares during the period. Sei Investments Co. raised its holdings in Nucor by 106.2% during the 1st quarter. Sei Investments Co. now owns 35,889 shares of the basic materials company’s stock worth $5,328,000 after buying an additional 18,488 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in Nucor during the 1st quarter worth approximately $284,000. Finally, Brighton Jones LLC acquired a new stake in Nucor during the 1st quarter worth approximately $222,000. Institutional investors own 76.48% of the company’s stock.

Nucor Price Performance

NYSE NUE opened at $200.15 on Thursday. 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 12-month low of $129.79 and a 12-month high of $202.89. The company has a market capitalization of $48.03 billion, a PE ratio of 11.13 and a beta of 1.61. The firm’s 50 day moving average is $187.48 and its 200-day moving average is $170.05.

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

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Thursday, March 28th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.08%. Nucor’s payout ratio is 12.01%.

Insider Buying and Selling

In related news, EVP Kenneth Rex Query sold 5,500 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the transaction, the executive vice president now directly owns 85,326 shares in the company, valued at $15,902,206.62. The sale was disclosed in a filing with the SEC, which is available through this link. In other Nucor news, insider Michael D. Keller sold 3,145 shares of Nucor stock in a transaction 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 completion of the transaction, the insider now directly owns 24,873 shares of the company’s stock, valued at $4,817,153.91. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kenneth Rex Query sold 5,500 shares of Nucor stock in a transaction on 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 transaction, the executive vice president now directly owns 85,326 shares of the company’s stock, valued at $15,902,206.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,151 shares of company stock worth $7,308,683. Insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NUE. StockNews.com downgraded shares of Nucor from a “buy” rating to a “hold” rating in a report on Wednesday, March 13th. Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and raised their target price for the stock from $180.00 to $240.00 in a report on Wednesday, March 13th. JPMorgan Chase & Co. lifted their price objective on shares of Nucor from $151.00 to $158.00 and gave the company a “neutral” rating in a report on Tuesday, December 12th. Finally, UBS Group began coverage on shares of Nucor in a report on Tuesday, January 16th. They issued a “buy” rating and a $210.00 price objective on the stock. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $186.67.

Read Our Latest Research Report on NUE

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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