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

First Citizens Bank & Trust Co. lowered its stake in Nucor Co. (NYSE:NUEFree Report) by 16.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,049 shares of the basic materials company’s stock after selling 776 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Nucor were worth $705,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Keybank National Association OH lifted its position in 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 purchasing an additional 639 shares during the last quarter. Compagnie Lombard Odier SCmA bought a new stake in Nucor in the fourth quarter valued at approximately $3,481,000. Deutsche Bank AG lifted its position in 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 purchasing an additional 22,470 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new stake in Nucor in the fourth quarter valued at approximately $5,490,000. Finally, Nordea Investment Management AB lifted its position in 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 purchasing an additional 22,596 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Price Performance

NUE opened at $198.37 on Wednesday. The stock has a fifty day simple moving average of $187.48 and a two-hundred day simple 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. The company has a market cap of $47.60 billion, a price-to-earnings ratio of 11.03 and a beta of 1.61. Nucor Co. has a 12-month low of $129.79 and a 12-month high of $201.52.

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, topping analysts’ consensus estimates of $2.83 by $0.33. The business had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.64 billion. Nucor had a return on equity of 21.42% and a net margin of 13.03%. The firm’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.89 earnings per share. Research analysts predict that Nucor Co. will post 14.03 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, March 28th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.09%. Nucor’s dividend payout ratio is currently 12.01%.

Insider Transactions at Nucor

In other news, insider Michael D. Keller sold 3,145 shares of the 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 of the company’s stock, valued at $4,817,153.91. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Douglas J. Jellison sold 19,506 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the sale, the executive vice president now directly owns 120,738 shares of the company’s stock, valued at $23,351,936.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael D. Keller sold 3,145 shares of the stock in a transaction on Thursday, March 21st. The shares were 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 38,151 shares of company stock valued at $7,308,683. Insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on Nucor from $151.00 to $158.00 and gave the company a “neutral” rating in a report on Tuesday, December 12th. StockNews.com downgraded Nucor from a “buy” rating to a “hold” rating in a report on Wednesday, March 13th. Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and upped their target price for the company from $180.00 to $240.00 in a report on Wednesday, March 13th. Finally, UBS Group assumed coverage on Nucor in a report on Tuesday, January 16th. They set a “buy” rating and a $210.00 target price for the company. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Nucor currently has a consensus rating of “Hold” and a consensus price target of $186.67.

Check Out Our Latest Stock Report on Nucor

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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