Patten & Patten Inc. TN Purchases 276 Shares of Nucor Co. (NYSE:NUE)

Patten & Patten Inc. TN lifted its stake in Nucor Co. (NYSE:NUEFree Report) by 13.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,296 shares of the basic materials company’s stock after buying an additional 276 shares during the period. Patten & Patten Inc. TN’s holdings in Nucor were worth $400,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Keybank National Association OH lifted its stake in shares of Nucor by 3.4% in the third quarter. Keybank National Association OH now owns 19,246 shares of the basic materials company’s stock valued at $3,009,000 after buying an additional 639 shares during the period. Compagnie Lombard Odier SCmA bought a new stake in shares of Nucor in the fourth quarter valued at about $3,481,000. Deutsche Bank AG lifted its stake in shares of Nucor by 2.5% in the third quarter. Deutsche Bank AG now owns 908,340 shares of the basic materials company’s stock valued at $142,019,000 after buying an additional 22,470 shares during the period. AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Nucor in the fourth quarter valued at about $5,490,000. Finally, Nordea Investment Management AB lifted its stake in shares of Nucor by 2.1% in 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 during the period. Institutional investors own 76.48% of the company’s stock.

Insider Activity

In other news, insider Michael D. Keller sold 3,145 shares of the 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 sale, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Michael D. Keller sold 3,145 shares of the 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 sale, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kenneth Rex Query sold 5,500 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 85,326 shares in the company, valued at $15,902,206.62. The disclosure for this sale can be found here. Insiders have sold 38,151 shares of company stock valued at $7,308,683 over the last three months. 0.46% of the stock is owned by insiders.

Analysts Set New Price Targets

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

Read Our Latest Stock Analysis on NUE

Nucor Stock Performance

NYSE NUE opened at $200.15 on Thursday. The firm has a market cap of $48.03 billion, a price-to-earnings ratio of 11.13 and a beta of 1.61. The company has a 50 day moving average of $187.48 and a 200-day moving average of $170.05. 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 1-year low of $129.79 and a 1-year high of $202.89.

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 for the quarter, topping the consensus estimate of $2.83 by $0.33. The company 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 company’s revenue was down 11.7% on a year-over-year basis. During the same quarter last year, the business posted $4.89 earnings per share. On average, equities analysts forecast that Nucor Co. will post 14.03 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.54 per share. The ex-dividend date is Wednesday, March 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.08%. Nucor’s dividend payout ratio (DPR) is currently 12.01%.

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.

Further Reading

Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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