CNB Bank Sells 265 Shares of Nucor Co. (NYSE:NUE)

CNB Bank trimmed its stake in Nucor Co. (NYSE:NUE) by 16.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,332 shares of the basic materials company’s stock after selling 265 shares during the quarter. CNB Bank’s holdings in Nucor were worth $232,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Householder Group Estate & Retirement Specialist LLC bought a new stake in Nucor in the third quarter worth $25,000. Providence Capital Advisors LLC boosted its holdings in Nucor by 15,470.4% in the first quarter. Providence Capital Advisors LLC now owns 4,204 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 4,177 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in Nucor in the first quarter worth $32,000. Valley National Advisers Inc. boosted its holdings in Nucor by 716.7% in the fourth quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 172 shares in the last quarter. Finally, OFI Invest Asset Management bought a new stake in Nucor in the third quarter worth $40,000. 76.48% of the stock is owned by institutional investors.

Nucor Price Performance

NUE traded up $0.59 on Friday, hitting $191.36. 1,622,789 shares of the company’s stock traded hands, compared to its average volume of 908,045. The company’s 50 day simple moving average is $191.19 and its 200-day simple moving average is $173.57. The firm has a market cap of $45.92 billion, a price-to-earnings ratio of 10.64 and a beta of 1.61. Nucor Co. has a one year low of $129.79 and a one year high of $203.00. The company has a current ratio of 3.57, a quick ratio of 2.35 and a debt-to-equity ratio of 0.30.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, January 29th. The basic materials company reported $3.16 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.33. The business had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.64 billion. Nucor had a return on equity of 21.42% and a net margin of 13.03%. The firm’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same quarter last year, the business posted $4.89 EPS. As a group, research analysts anticipate that Nucor Co. will post 12.93 EPS for the current year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, March 28th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Wednesday, March 27th. Nucor’s dividend payout ratio (DPR) is 12.01%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NUE. JPMorgan Chase & Co. raised their target price on Nucor from $180.00 to $195.00 and gave the stock a “neutral” rating in a research report on Tuesday. UBS Group initiated coverage on Nucor in a research report on Tuesday, January 16th. They issued a “buy” rating and a $210.00 target price on the stock. Citigroup raised Nucor from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $180.00 to $240.00 in a research note on Wednesday, March 13th. Finally, StockNews.com raised Nucor from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $192.83.

Insider Transactions at Nucor

In related news, EVP Kenneth Rex Query sold 5,500 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the completion of the transaction, the executive vice president now owns 85,326 shares in the company, valued at approximately $15,902,206.62. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Kenneth Rex Query sold 5,500 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the completion of the transaction, the executive vice president now owns 85,326 shares in the company, valued at approximately $15,902,206.62. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael D. Keller sold 3,145 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total value of $609,092.15. Following the transaction, the insider now owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,151 shares of company stock worth $7,308,683. 0.46% of the stock is currently owned by company 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.