Country Club Bank GFN Acquires New Position in Nucor Co. (NYSE:NUE)

Country Club Bank GFN acquired a new stake in shares of Nucor Co. (NYSE:NUEFree Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,200 shares of the basic materials company’s stock, valued at approximately $210,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NUE. Householder Group Estate & Retirement Specialist LLC bought a new stake in Nucor in the third quarter worth approximately $25,000. Providence Capital Advisors LLC grew its position in Nucor by 15,470.4% in the first quarter. Providence Capital Advisors LLC now owns 4,204 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 4,177 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in Nucor in the first quarter worth approximately $32,000. VisionPoint Advisory Group LLC bought a new stake in Nucor in the second quarter worth approximately $39,000. Finally, OFI Invest Asset Management bought a new stake in Nucor in the third quarter worth approximately $40,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Price Performance

NYSE:NUE opened at $198.37 on Wednesday. The stock has a market cap of $47.60 billion, a P/E ratio of 11.03 and a beta of 1.61. Nucor Co. has a one year low of $129.79 and a one year high of $201.52. The company has a fifty day moving average price of $187.48 and a 200 day moving average price of $170.05. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.57 and a quick ratio of 2.35.

Nucor (NYSE:NUEGet Free Report) last released its earnings results on Monday, January 29th. The basic materials company reported $3.16 EPS for the quarter, beating the consensus estimate of $2.83 by $0.33. The firm had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.64 billion. Nucor had a net margin of 13.03% and a return on equity of 21.42%. The business’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same period in the prior year, the company earned $4.89 EPS. Analysts anticipate that Nucor Co. will post 14.03 earnings per share for the current year.

Nucor Dividend Announcement

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

Insider Activity

In other news, EVP Allen C. Behr sold 10,000 shares of the stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total value of $1,901,900.00. Following the completion of the transaction, the executive vice president now owns 80,902 shares in the company, valued at approximately $15,386,751.38. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, 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 completion of the transaction, the insider now owns 24,873 shares in the company, valued at approximately $4,817,153.91. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Allen C. Behr sold 10,000 shares of the stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total transaction of $1,901,900.00. Following the completion of the transaction, the executive vice president now owns 80,902 shares of the company’s stock, valued at approximately $15,386,751.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,151 shares of company stock worth $7,308,683. 0.64% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on NUE shares. StockNews.com downgraded shares of Nucor from a “buy” rating to a “hold” rating in a research report on Wednesday, March 13th. JPMorgan Chase & Co. boosted their price objective on shares of Nucor from $151.00 to $158.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 12th. Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $180.00 to $240.00 in a research note on Wednesday, March 13th. Finally, UBS Group began coverage on shares of Nucor in a research note on Tuesday, January 16th. They issued a “buy” rating and a $210.00 price objective for the company. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $186.67.

Check Out Our Latest Analysis 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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