Honkamp Krueger Financial Services Inc. Cuts Stake in Nucor Co. (NYSE:NUE)

Honkamp Krueger Financial Services Inc. lessened its holdings in shares of Nucor Co. (NYSE:NUE) by 11.7% during the 4th quarter, Holdings Channel reports. The firm owned 4,071 shares of the basic materials company’s stock after selling 540 shares during the period. Honkamp Krueger Financial Services Inc.’s holdings in Nucor were worth $229,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of NUE. Sciencast Management LP purchased a new position in Nucor during the third quarter valued at $916,000. Means Investment CO. Inc. bought a new position in shares of Nucor during the 3rd quarter valued at about $610,000. Parametric Portfolio Associates LLC boosted its holdings in shares of Nucor by 10.7% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 978,644 shares of the basic materials company’s stock valued at $49,823,000 after purchasing an additional 94,693 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of Nucor by 38.6% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 4,480 shares of the basic materials company’s stock valued at $228,000 after purchasing an additional 1,247 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. purchased a new position in shares of Nucor during the second quarter valued at about $222,000. 78.35% of the stock is currently owned by institutional investors.

A number of equities research analysts recently commented on NUE shares. Zacks Investment Research upgraded Nucor from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Friday, January 3rd. Longbow Research upgraded Nucor from a “neutral” rating to a “buy” rating and set a $65.00 price target for the company in a report on Monday, December 9th. ValuEngine raised Nucor from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. BNP Paribas started coverage on Nucor in a report on Thursday, November 14th. They set a “buy” rating and a $71.00 price objective on the stock. Finally, Exane BNP Paribas assumed coverage on Nucor in a report on Thursday, November 14th. They set an “outperform” rating and a $71.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. Nucor has a consensus rating of “Buy” and an average price target of $61.20.

Shares of NUE opened at $53.43 on Thursday. The company has a market cap of $16.37 billion, a PE ratio of 9.34, a P/E/G ratio of 1.12 and a beta of 1.63. The business has a fifty day moving average of $55.92 and a 200 day moving average of $53.50. Nucor Co. has a 52-week low of $46.10 and a 52-week high of $62.31. The company has a quick ratio of 1.78, a current ratio of 3.36 and a debt-to-equity ratio of 0.39.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Tuesday, October 22nd. The basic materials company reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.10. Nucor had a net margin of 7.62% and a return on equity of 16.90%. The business had revenue of $5.46 billion for the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the previous year, the business posted $2.33 earnings per share. The business’s revenue was down 19.0% compared to the same quarter last year. As a group, research analysts anticipate that Nucor Co. will post 4.25 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st will be issued a $0.4025 dividend. This represents a $1.61 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend is Monday, December 30th. This is a positive change from Nucor’s previous quarterly dividend of $0.40. Nucor’s dividend payout ratio (DPR) is 21.13%.

In related news, EVP Raymond S. Napolitan, Jr. sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $52.67, for a total transaction of $421,360.00. Following the completion of the sale, the executive vice president now directly owns 142,393 shares of the company’s stock, valued at approximately $7,499,839.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John J. Ferriola sold 3,203 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $54.00, for a total value of $172,962.00. Following the transaction, the chief executive officer now owns 453,954 shares of the company’s stock, valued at approximately $24,513,516. The disclosure for this sale can be found here. 0.96% of the stock is currently owned by insiders.

Nucor Profile

Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.

See Also: Depreciation

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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