KCM Investment Advisors LLC lessened its holdings in Nucor Co. (NYSE:NUE) by 12.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,650 shares of the basic materials company’s stock after selling 918 shares during the quarter. KCM Investment Advisors LLC’s holdings in Nucor were worth $423,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Main Street Research LLC grew its holdings in Nucor by 1.9% in the fourth quarter. Main Street Research LLC now owns 200,752 shares of the basic materials company’s stock worth $12,764,000 after purchasing an additional 3,730 shares during the period. Van ECK Associates Corp grew its holdings in Nucor by 8.7% in the third quarter. Van ECK Associates Corp now owns 137,909 shares of the basic materials company’s stock worth $7,728,000 after purchasing an additional 11,093 shares during the period. SG Americas Securities LLC grew its holdings in shares of Nucor by 330.3% during the fourth quarter. SG Americas Securities LLC now owns 63,096 shares of the basic materials company’s stock valued at $4,012,000 after buying an additional 48,432 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Nucor by 60.4% during the fourth quarter. Bank of Montreal Can now owns 514,931 shares of the basic materials company’s stock valued at $32,739,000 after buying an additional 194,001 shares during the last quarter. Finally, Capital One National Association grew its holdings in shares of Nucor by 20.1% during the fourth quarter. Capital One National Association now owns 8,784 shares of the basic materials company’s stock valued at $559,000 after buying an additional 1,470 shares during the last quarter. Institutional investors and hedge funds own 80.07% of the company’s stock.
In related news, CFO James D. Frias sold 39,037 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $68.31, for a total value of $2,666,617.47. Following the sale, the chief financial officer now owns 177,204 shares in the company, valued at $12,104,805.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman John J. Ferriola sold 14,313 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $64.12, for a total transaction of $917,749.56. Following the completion of the sale, the chairman now owns 333,775 shares in the company, valued at approximately $21,401,653. The disclosure for this sale can be found here. Insiders sold 64,350 shares of company stock worth $4,312,607 in the last 90 days. 0.70% of the stock is currently owned by corporate insiders.
Nucor (NYSE:NUE) last issued its earnings results on Tuesday, January 30th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.10. Nucor had a net margin of 6.58% and a return on equity of 13.03%. The company had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter last year, the company posted $0.50 earnings per share. The firm’s quarterly revenue was up 28.7% on a year-over-year basis. analysts expect that Nucor Co. will post 5.3 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 11th. Investors of record on Thursday, March 29th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend is Wednesday, March 28th. Nucor’s dividend payout ratio is currently 36.72%.
A number of research firms have recently commented on NUE. ValuEngine cut shares of Nucor from a “buy” rating to a “hold” rating in a report on Tuesday. Goldman Sachs began coverage on shares of Nucor in a report on Tuesday. They set a “buy” rating and a $78.00 price target on the stock. Zacks Investment Research cut shares of Nucor from a “buy” rating to a “hold” rating in a report on Monday, March 12th. Morgan Stanley cut their price target on shares of Nucor from $70.00 to $68.00 and set a “hold” rating on the stock in a report on Tuesday, February 6th. Finally, Jefferies Group reiterated a “buy” rating and set a $76.00 price target on shares of Nucor in a report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $69.54.
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Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).
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