Iberiabank Corp lessened its holdings in shares of Nucor Co. (NYSE:NUE) by 15.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,821 shares of the basic materials company’s stock after selling 2,782 shares during the period. Iberiabank Corp’s holdings in Nucor were worth $820,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. HM Payson & Co. boosted its position in shares of Nucor by 6.9% in the 3rd quarter. HM Payson & Co. now owns 3,525 shares of the basic materials company’s stock worth $224,000 after purchasing an additional 229 shares in the last quarter. Hills Bank & Trust Co. lifted its position in Nucor by 1.4% in the 4th quarter. Hills Bank & Trust Co. now owns 19,738 shares of the basic materials company’s stock valued at $1,022,000 after acquiring an additional 267 shares in the last quarter. Central Bank & Trust Co. lifted its position in Nucor by 21.6% in the 4th quarter. Central Bank & Trust Co. now owns 1,889 shares of the basic materials company’s stock valued at $98,000 after acquiring an additional 336 shares in the last quarter. Highland Capital Management LLC lifted its position in Nucor by 0.4% in the 4th quarter. Highland Capital Management LLC now owns 78,650 shares of the basic materials company’s stock valued at $4,075,000 after acquiring an additional 350 shares in the last quarter. Finally, Simmons Bank lifted its position in Nucor by 0.9% in the 4th quarter. Simmons Bank now owns 47,955 shares of the basic materials company’s stock valued at $2,485,000 after acquiring an additional 416 shares in the last quarter. Institutional investors own 77.56% of the company’s stock.
Several equities analysts recently issued reports on the company. ValuEngine raised Nucor from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Zacks Investment Research lowered shares of Nucor from a “hold” rating to a “strong sell” rating in a research note on Friday, February 1st. Cowen initiated coverage on Nucor in a research note on Tuesday, January 8th. They issued an “outperform” rating and a $62.00 price objective for the company. Credit Suisse Group upgraded Nucor from a “neutral” rating to an “outperform” rating in a research note on Tuesday, January 8th. Finally, UBS Group set a $59.00 price objective on Nucor and gave the stock a “hold” rating in a research note on Monday, December 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. Nucor presently has an average rating of “Buy” and an average target price of $71.45.
Nucor (NYSE:NUE) last announced its quarterly earnings data on Tuesday, January 29th. The basic materials company reported $2.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.93 by $0.14. The business had revenue of $6.30 billion during the quarter, compared to the consensus estimate of $6.29 billion. Nucor had a net margin of 9.42% and a return on equity of 24.57%. The firm’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.65 earnings per share. On average, sell-side analysts predict that Nucor Co. will post 5.99 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, February 11th. Stockholders of record on Monday, December 31st were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, December 28th. This is a positive change from Nucor’s previous quarterly dividend of $0.38. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.61%. Nucor’s dividend payout ratio (DPR) is 21.00%.
In other news, Chairman John J. Ferriola sold 87,719 shares of the firm’s stock in a transaction that occurred on Thursday, January 31st. The shares were sold at an average price of $60.35, for a total transaction of $5,293,841.65. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.80% of the company’s stock.
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Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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; hollow structural section steel tubing, steel electrical conduit, plate steel, and structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, wire rods, and special bar quality; and tubular and plate steel products.
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