Nucor Co. (NYSE:NUE) Shares Sold by Brooklyn Investment Group

Brooklyn Investment Group reduced its holdings in Nucor Co. (NYSE:NUE) by 54.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 546 shares of the basic materials company’s stock after selling 658 shares during the period. Brooklyn Investment Group’s holdings in Nucor were worth $64,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NUE. Trinity Street Asset Management LLP increased its holdings in Nucor by 6.6% in the fourth quarter. Trinity Street Asset Management LLP now owns 168,425 shares of the basic materials company’s stock valued at $19,657,000 after buying an additional 10,390 shares in the last quarter. Butensky & Cohen Financial Security Inc. grew its position in shares of Nucor by 5.4% during the 4th quarter. Butensky & Cohen Financial Security Inc. now owns 26,875 shares of the basic materials company’s stock valued at $3,137,000 after acquiring an additional 1,374 shares during the period. Mirador Capital Partners LP increased its stake in shares of Nucor by 8.4% in the 4th quarter. Mirador Capital Partners LP now owns 5,689 shares of the basic materials company’s stock valued at $664,000 after purchasing an additional 439 shares in the last quarter. Advisors Management Group Inc. ADV raised its holdings in Nucor by 94.9% in the 4th quarter. Advisors Management Group Inc. ADV now owns 3,657 shares of the basic materials company’s stock worth $427,000 after purchasing an additional 1,781 shares during the period. Finally, Covea Finance acquired a new position in Nucor in the 4th quarter worth about $5,836,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Stock Performance

NYSE:NUE opened at $124.40 on Monday. The company’s 50-day moving average is $133.52 and its two-hundred day moving average is $144.40. The firm has a market capitalization of $29.21 billion, a price-to-earnings ratio of 12.02 and a beta of 1.60. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61. Nucor Co. has a 1-year low of $112.25 and a 1-year high of $203.00.

Nucor (NYSE:NUE) last issued its quarterly earnings data 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. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The company had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. During the same period in the prior year, the business posted $4.57 earnings per share. The firm’s revenue for the quarter was down 15.2% compared to the same quarter last year. Analysts forecast that Nucor Co. will post 8.19 EPS for the current year.

Nucor Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.55 per share. The ex-dividend date is Tuesday, December 31st. This is a boost from Nucor’s previous quarterly dividend of $0.54. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.77%. Nucor’s dividend payout ratio is currently 21.26%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on NUE shares. JPMorgan Chase & Co. cut their price target on shares of Nucor from $168.00 to $152.00 and set an “overweight” rating for the company in a report on Friday. The Goldman Sachs Group began coverage on shares of Nucor in a research note on Monday, December 2nd. They set a “buy” rating and a $190.00 target price for the company. UBS Group reaffirmed a “neutral” rating and issued a $156.00 price target (down from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Morgan Stanley cut their price objective 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, Jefferies Financial Group decreased their target price on Nucor from $150.00 to $125.00 and set a “hold” rating on the stock in a research report on Monday, January 6th. Four investment 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.63.

Insider Buying and Selling

In other news, CEO Leon J. Topalian sold 11,000 shares of Nucor stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total value of $1,860,210.00. Following the completion of the sale, the chief executive officer now directly owns 172,136 shares of the company’s stock, valued at approximately $29,109,918.96. The trade was a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Stephen D. Laxton sold 4,712 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total value of $798,825.36. Following the transaction, the chief financial officer now directly owns 82,132 shares in the company, valued at approximately $13,923,837.96. The trade was a 5.43 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,680 shares of company stock valued at $4,773,724. 0.46% of the stock is currently owned by insiders.

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.