Nucor Co. (NYSE:NUE) Shares Sold by Fractal Investments LLC

Fractal Investments LLC lessened its stake in shares of Nucor Co. (NYSE:NUE) by 68.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,023 shares of the basic materials company’s stock after selling 10,679 shares during the quarter. Nucor accounts for 0.2% of Fractal Investments LLC’s investment portfolio, making the stock its 25th biggest position. Fractal Investments LLC’s holdings in Nucor were worth $874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Keybank National Association OH increased its holdings in Nucor by 3.4% during the 3rd quarter. Keybank National Association OH now owns 19,246 shares of the basic materials company’s stock worth $3,009,000 after purchasing an additional 639 shares during the last quarter. Compagnie Lombard Odier SCmA bought a new position in shares of Nucor during the fourth quarter worth about $3,481,000. AIA Group Ltd grew its stake in Nucor by 53.2% in the fourth quarter. AIA Group Ltd now owns 13,226 shares of the basic materials company’s stock worth $2,302,000 after purchasing an additional 4,592 shares in the last quarter. Sapient Capital LLC bought a new stake in Nucor in the fourth quarter valued at about $1,230,000. Finally, Blue Trust Inc. raised its stake in Nucor by 47.4% during the fourth quarter. Blue Trust Inc. now owns 871 shares of the basic materials company’s stock valued at $152,000 after buying an additional 280 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. StockNews.com downgraded Nucor from a “buy” rating to a “hold” rating in a report on Tuesday. UBS Group started coverage on shares of Nucor in a research report on Tuesday, January 16th. They issued a “buy” rating and a $210.00 price target on the stock. BMO Capital Markets decreased their price target on shares of Nucor from $210.00 to $200.00 and set a “market perform” rating for the company in a report on Wednesday. Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $180.00 to $240.00 in a research note on Wednesday, March 13th. Finally, JPMorgan Chase & Co. decreased their target price on Nucor from $195.00 to $190.00 and set a “neutral” rating for the company in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $193.14.

Nucor Stock Performance

Nucor stock traded down $1.88 during mid-day trading on Wednesday, hitting $172.76. 2,586,233 shares of the company’s stock traded hands, compared to its average volume of 1,441,052. The company has a market cap of $41.46 billion, a PE ratio of 10.16 and a beta of 1.61. The company has a quick ratio of 2.35, a current ratio of 3.57 and a debt-to-equity ratio of 0.30. Nucor Co. has a one year low of $129.79 and a one year high of $203.00. The firm has a 50 day moving average price of $191.04 and a 200 day moving average price of $174.17.

Nucor (NYSE:NUE) last released its earnings results on Monday, April 22nd. The basic materials company reported $3.46 EPS for the quarter, missing the consensus estimate of $3.62 by ($0.16). Nucor had a net margin of 12.40% and a return on equity of 19.67%. The company had revenue of $8.14 billion for the quarter, compared to analyst estimates of $8.26 billion. During the same period in the previous year, the business posted $4.45 EPS. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. On average, equities analysts forecast that Nucor Co. will post 12.93 EPS for the current year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Thursday, March 28th will be issued a $0.54 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.25%. Nucor’s payout ratio is currently 12.71%.

Insider Activity at Nucor

In related news, insider Michael D. Keller sold 3,145 shares of Nucor 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 transaction, the insider now directly owns 24,873 shares in the company, valued at approximately $4,817,153.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Michael D. Keller sold 3,145 shares of Nucor stock in a transaction that occurred 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 transaction, 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 accessible through this hyperlink. Also, EVP Kenneth Rex Query sold 5,500 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the completion of the sale, the executive vice president now owns 85,326 shares of the company’s stock, valued at approximately $15,902,206.62. The disclosure for this sale can be found here. Insiders sold a total of 38,151 shares of company stock valued at $7,308,683 over the last ninety days. Insiders own 0.64% of the company’s stock.

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.