Aperio Group LLC Cuts Stake in Nucor Co. (NYSE:NUE)

Aperio Group LLC reduced its stake in shares of Nucor Co. (NYSE:NUE) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,969 shares of the basic materials company’s stock after selling 973 shares during the quarter. Aperio Group LLC’s holdings in Nucor were worth $7,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Clear Harbor Asset Management LLC purchased a new position in shares of Nucor in the third quarter valued at $47,000. WASHINGTON TRUST Co grew its holdings in shares of Nucor by 87.0% in the third quarter. WASHINGTON TRUST Co now owns 1,075 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 500 shares in the last quarter. NuWave Investment Management LLC grew its holdings in shares of Nucor by 13,914.3% in the fourth quarter. NuWave Investment Management LLC now owns 981 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 974 shares in the last quarter. Asset Dedication LLC grew its holdings in shares of Nucor by 114.6% in the fourth quarter. Asset Dedication LLC now owns 983 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 525 shares in the last quarter. Finally, Edge Wealth Management LLC purchased a new position in shares of Nucor in the fourth quarter valued at $53,000. 75.12% of the stock is owned by institutional investors and hedge funds.

In other news, CEO Leon J. Topalian sold 10,000 shares of Nucor stock in a transaction on Monday, December 21st. The stock was sold at an average price of $53.88, for a total transaction of $538,800.00. Following the completion of the sale, the chief executive officer now directly owns 100,577 shares in the company, valued at $5,419,088.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.39% of the stock is currently owned by company insiders.

NUE has been the subject of a number of recent research reports. Credit Suisse Group raised shares of Nucor from a “neutral” rating to an “outperform” rating and raised their target price for the company from $48.00 to $63.00 in a report on Wednesday, February 3rd. Morgan Stanley began coverage on shares of Nucor in a research note on Wednesday, December 9th. They set an “equal weight” rating and a $60.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $49.90.

NYSE NUE opened at $59.87 on Tuesday. The company has a quick ratio of 2.40, a current ratio of 3.78 and a debt-to-equity ratio of 0.51. The company has a fifty day moving average of $54.62 and a two-hundred day moving average of $50.87. The firm has a market capitalization of $18.08 billion, a price-to-earnings ratio of 42.46, a PEG ratio of 1.35 and a beta of 1.33. Nucor Co. has a 52 week low of $27.52 and a 52 week high of $60.96.

Nucor (NYSE:NUE) last released its earnings results on Thursday, January 28th. The basic materials company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.08. Nucor had a return on equity of 7.21% and a net margin of 2.15%. The business had revenue of $5.26 billion during the quarter, compared to the consensus estimate of $5.45 billion. During the same period last year, the company earned $0.52 earnings per share. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities research analysts anticipate that Nucor Co. will post 3.22 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 11th. Stockholders of record on Thursday, December 31st were given a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 2.71%. This is an increase from Nucor’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, December 30th. Nucor’s dividend payout ratio (DPR) is 37.59%.

Nucor Company Profile

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

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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