Nucor Co. (NYSE:NUE) Shares Sold by Intrust Bank NA

Intrust Bank NA lowered its stake in shares of Nucor Co. (NYSE:NUE) by 11.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 13,072 shares of the basic materials company’s stock after selling 1,773 shares during the period. Intrust Bank NA’s holdings in Nucor were worth $1,526,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allstate Corp purchased a new position in shares of Nucor during the fourth quarter worth $837,000. DnB Asset Management AS lifted its stake in Nucor by 4.7% during the 4th quarter. DnB Asset Management AS now owns 80,901 shares of the basic materials company’s stock worth $9,442,000 after acquiring an additional 3,618 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in Nucor by 8.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 131,373 shares of the basic materials company’s stock worth $15,333,000 after acquiring an additional 10,528 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Nucor by 14.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 377,911 shares of the basic materials company’s stock valued at $44,106,000 after acquiring an additional 49,011 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new position in Nucor in the 4th quarter valued at about $1,961,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on NUE. The Goldman Sachs Group initiated coverage on shares of Nucor in a research note on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective for the company. Citigroup lowered their target price on Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. StockNews.com upgraded Nucor from a “sell” rating to a “hold” rating in a research note on Wednesday, February 12th. Morgan Stanley set a $164.00 target price on shares of Nucor in a report on Monday. Finally, UBS Group upgraded shares of Nucor from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $156.00 to $160.00 in a research note on Monday, March 24th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $164.44.

Nucor Price Performance

NUE opened at $121.90 on Friday. Nucor Co. has a 52-week low of $112.25 and a 52-week high of $203.00. The company has a 50 day moving average of $130.98 and a two-hundred day moving average of $137.29. The company has a market cap of $28.10 billion, a P/E ratio of 14.50, a P/E/G ratio of 0.96 and a beta of 1.58. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27.

Nucor (NYSE:NUE) last released 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 return on equity of 9.85% and a net margin of 6.60%. During the same quarter last year, the firm posted $3.16 EPS. On average, analysts expect that Nucor Co. will post 7.64 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be paid a $0.55 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.20 dividend on an annualized basis and a yield of 1.80%. Nucor’s payout ratio is currently 26.16%.

Nucor Company 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.