Nucor Co. (NYSE:NUE) Shares Sold by Cwm LLC

Cwm LLC lowered its stake in shares of Nucor Co. (NYSE:NUE) by 22.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,495 shares of the basic materials company’s stock after selling 11,096 shares during the quarter. Cwm LLC’s holdings in Nucor were worth $6,526,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Riggs Asset Managment Co. Inc. grew its position in shares of Nucor by 0.9% during the fourth quarter. Riggs Asset Managment Co. Inc. now owns 12,573 shares of the basic materials company’s stock worth $2,188,000 after buying an additional 107 shares in the last quarter. Criterion Capital Advisors LLC acquired a new stake in shares of Nucor during the fourth quarter worth approximately $25,000. Signaturefd LLC grew its position in shares of Nucor by 2.8% during the fourth quarter. Signaturefd LLC now owns 5,769 shares of the basic materials company’s stock worth $1,004,000 after buying an additional 157 shares in the last quarter. Lindbrook Capital LLC grew its position in shares of Nucor by 31.0% during the fourth quarter. Lindbrook Capital LLC now owns 1,213 shares of the basic materials company’s stock worth $211,000 after buying an additional 287 shares in the last quarter. Finally, abrdn plc grew its position in shares of Nucor by 41.7% during the fourth quarter. abrdn plc now owns 154,745 shares of the basic materials company’s stock worth $26,932,000 after buying an additional 45,521 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on NUE shares. Citigroup raised shares of Nucor from a “neutral” rating to a “buy” rating and raised their price target for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. UBS Group initiated coverage on Nucor in a research note on Tuesday, January 16th. They set a “buy” rating and a $210.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on Nucor from $180.00 to $195.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Finally, StockNews.com cut Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $192.83.

Nucor Stock Performance

NUE stock opened at $174.64 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.35 and a current ratio of 3.57. The stock has a market capitalization of $41.91 billion, a price-to-earnings ratio of 10.27 and a beta of 1.61. Nucor Co. has a 1 year low of $129.79 and a 1 year high of $203.00. The stock’s fifty day moving average is $191.20 and its two-hundred day moving average is $174.18.

Nucor (NYSE:NUE) last posted its 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). The company had revenue of $8.14 billion during the quarter, compared to the consensus estimate of $8.26 billion. Nucor had a net margin of 12.40% and a return on equity of 19.67%. The business’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.45 earnings per share. On average, research analysts predict that Nucor Co. will post 12.93 EPS for the current year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, March 28th will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Wednesday, March 27th. Nucor’s payout ratio is 12.71%.

Insider Buying and Selling at Nucor

In other Nucor news, insider Michael D. Keller sold 3,145 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the sale, the insider now directly owns 24,873 shares in the company, valued at $4,817,153.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Nucor news, insider Michael D. Keller sold 3,145 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the sale, the insider now directly owns 24,873 shares in the company, valued at $4,817,153.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Douglas J. Jellison sold 19,506 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now directly owns 120,738 shares in the company, valued at $23,351,936.58. 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. 0.64% of the stock is owned by insiders.

Nucor 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.