Nucor Co. (NYSE:NUE) Shares Sold by National Bank of Canada FI

National Bank of Canada FI cut its holdings in shares of Nucor Co. (NYSE:NUE) by 61.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 113,590 shares of the basic materials company’s stock after selling 183,261 shares during the period. National Bank of Canada FI’s holdings in Nucor were worth $13,258,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Summit Financial LLC boosted its position in shares of Nucor by 170.6% in the 4th quarter. Summit Financial LLC now owns 4,752 shares of the basic materials company’s stock valued at $557,000 after purchasing an additional 2,996 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Nucor by 0.6% in the fourth quarter. Wellington Management Group LLP now owns 251,364 shares of the basic materials company’s stock worth $29,337,000 after buying an additional 1,380 shares during the period. CIBC Private Wealth Group LLC increased its position in shares of Nucor by 1.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 16,218 shares of the basic materials company’s stock worth $1,917,000 after acquiring an additional 287 shares in the last quarter. Schroder Investment Management Group raised its holdings in shares of Nucor by 4.3% during the fourth quarter. Schroder Investment Management Group now owns 407,299 shares of the basic materials company’s stock valued at $46,966,000 after acquiring an additional 16,940 shares during the period. Finally, Allianz SE purchased a new stake in shares of Nucor in the 4th quarter valued at approximately $338,000. 76.48% of the stock is currently owned by institutional investors.

Nucor Trading Down 6.1 %

NYSE:NUE opened at $103.14 on Friday. The company has a market capitalization of $23.78 billion, a P/E ratio of 12.26, a P/E/G ratio of 0.96 and a beta of 1.58. The stock’s 50 day moving average price is $130.19 and its 200 day moving average price is $136.40. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51. Nucor Co. has a 52 week low of $99.77 and a 52 week high of $203.00.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, topping the consensus estimate of $0.94 by $0.28. Nucor had a net margin of 6.60% and a return on equity of 9.85%. During the same quarter last year, the business posted $3.16 EPS. On average, research analysts forecast that Nucor Co. will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Monday, March 31st. Nucor’s dividend payout ratio is 26.16%.

Wall Street Analyst Weigh In

NUE has been the topic of several recent analyst reports. Argus set a $155.00 target price on shares of Nucor in a research note on Wednesday, March 5th. StockNews.com raised Nucor from a “sell” rating to a “hold” rating in a research note on Wednesday, February 12th. Morgan Stanley set a $164.00 price objective on Nucor in a research report on Monday, March 24th. Jefferies Financial Group upped their target price on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Finally, Citigroup decreased their price target on shares of Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $164.44.

About Nucor

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.