Westpac Banking Corp Sells 1,311 Shares of Nucor Co. (NYSE:NUE)

Westpac Banking Corp lessened its stake in shares of Nucor Co. (NYSE:NUEFree Report) by 5.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,777 shares of the basic materials company’s stock after selling 1,311 shares during the quarter. Westpac Banking Corp’s holdings in Nucor were worth $3,790,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Criterion Capital Advisors LLC purchased a new stake in shares of Nucor during the fourth quarter worth about $25,000. Valley National Advisers Inc. grew its position in shares of Nucor by 716.7% in the 4th quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock worth $34,000 after buying an additional 172 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC raised its holdings in shares of Nucor by 36.6% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 220 shares of the basic materials company’s stock valued at $38,000 after acquiring an additional 59 shares in the last quarter. Exchange Traded Concepts LLC increased its position in Nucor by 2,410.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 251 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 241 shares during the period. Finally, OFI Invest Asset Management purchased a new stake in shares of Nucor in the 3rd quarter worth about $40,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Stock Up 1.6 %

NUE stock traded up $2.80 during midday trading on Wednesday, hitting $175.42. The company’s stock had a trading volume of 521,972 shares, compared to its average volume of 1,411,499. The firm’s 50-day moving average is $186.92 and its 200-day moving average is $176.62. The company has a current ratio of 4.02, a quick ratio of 2.48 and a debt-to-equity ratio of 0.31. Nucor Co. has a 12 month low of $129.79 and a 12 month high of $203.00. The company has a market cap of $42.06 billion, a PE ratio of 10.30 and a beta of 1.65.

Nucor (NYSE:NUEGet Free Report) last issued its earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). Nucor had a return on equity of 19.62% and a net margin of 12.40%. The business had revenue of $8.14 billion during the quarter, compared to analysts’ expectations of $8.26 billion. During the same period last year, the firm posted $4.45 EPS. Nucor’s quarterly revenue was down 6.6% compared to the same quarter last year. On average, equities research analysts forecast that Nucor Co. will post 12.44 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Thursday, March 28th were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Wednesday, March 27th. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NUE. UBS Group assumed coverage on shares of Nucor in a research note on Tuesday, January 16th. They issued a “buy” rating and a $210.00 price target for the company. Citigroup upgraded 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 report on Wednesday, March 13th. JPMorgan Chase & Co. reduced their target price on shares of Nucor from $195.00 to $190.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. BMO Capital Markets dropped their price objective on shares of Nucor from $210.00 to $200.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 24th. Finally, StockNews.com downgraded shares of Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Nucor presently has an average rating of “Hold” and a consensus target price of $193.14.

Check Out Our Latest Research Report on Nucor

Insider Buying and Selling at Nucor

In other news, EVP Allen C. Behr sold 10,000 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $190.19, for a total value of $1,901,900.00. Following the transaction, the executive vice president now directly owns 80,902 shares in the company, valued at approximately $15,386,751.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Michael D. Keller sold 3,145 shares of the firm’s 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 of the company’s stock, valued at approximately $4,817,153.91. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Allen C. Behr sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was 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 directly owns 80,902 shares in the company, valued at approximately $15,386,751.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,651 shares of company stock worth $6,283,648. Insiders own 0.64% of the company’s stock.

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.

See Also

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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