Nucor Co. (NYSE:NUE) Shares Sold by Burney Co.

Burney Co. trimmed its position in Nucor Co. (NYSE:NUE) by 2.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,776 shares of the basic materials company’s stock after selling 305 shares during the period. Burney Co.’s holdings in Nucor were worth $1,258,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. State Street Corp boosted its stake in shares of Nucor by 2.9% in the third quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock worth $1,724,117,000 after acquiring an additional 326,181 shares during the last quarter. National Pension Service boosted its stake in Nucor by 3.2% during the 3rd quarter. National Pension Service now owns 652,502 shares of the basic materials company’s stock worth $98,097,000 after purchasing an additional 20,258 shares during the last quarter. Everence Capital Management Inc. purchased a new stake in shares of Nucor during the fourth quarter worth $565,000. BIP Wealth LLC acquired a new stake in shares of Nucor in the third quarter valued at about $681,000. Finally, Ascension Asset Management LLC purchased a new position in shares of Nucor in the second quarter worth about $885,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Nucor

In other Nucor news, EVP Kenneth Rex Query sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the completion of the transaction, the executive vice president now owns 98,770 shares of the company’s stock, valued at $14,499,436. This trade represents a 8.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Allen C. Behr sold 4,968 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $159.72, for a total value of $793,488.96. Following the sale, the executive vice president now directly owns 85,376 shares in the company, valued at $13,636,254.72. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,680 shares of company stock worth $4,773,724 over the last ninety days. Company insiders own 0.64% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NUE shares. Jefferies Financial Group dropped their price objective on shares of Nucor from $150.00 to $125.00 and set a “hold” rating for the company in a research note on Monday, January 6th. UBS Group reaffirmed a “neutral” rating and issued a $156.00 price target (down previously from $171.00) on shares of Nucor in a report on Thursday, December 12th. The Goldman Sachs Group started coverage on Nucor in a research note on Monday, December 2nd. They set a “buy” rating and a $190.00 price objective on the stock. Morgan Stanley cut their target price on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, Citigroup lowered their price target on shares of Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $165.63.

Nucor Stock Performance

NYSE NUE opened at $123.48 on Friday. The stock has a fifty day simple moving average of $134.96 and a 200-day simple moving average of $144.94. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. The stock has a market cap of $29.00 billion, a PE ratio of 11.93 and a beta of 1.60. Nucor Co. has a twelve month low of $112.25 and a twelve month high of $203.00.

Nucor (NYSE:NUE) last announced its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.09. The company had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. Nucor’s revenue was down 15.2% compared to the same quarter last year. During the same quarter last year, the firm posted $4.57 earnings per share. Equities analysts anticipate that Nucor Co. will post 8.19 earnings per share for the current year.

Nucor Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.78%. This is a boost from Nucor’s previous quarterly dividend of $0.54. The ex-dividend date is Tuesday, December 31st. Nucor’s dividend payout ratio is 21.26%.

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.