PGGM Investments Decreases Position in Nucor Co. (NYSE:NUE)

PGGM Investments decreased its holdings in shares of Nucor Co. (NYSE:NUE) by 3.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 59,912 shares of the basic materials company’s stock after selling 2,076 shares during the quarter. PGGM Investments’ holdings in Nucor were worth $10,427,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. SVB Wealth LLC lifted its stake in Nucor by 1.5% during the fourth quarter. SVB Wealth LLC now owns 3,656 shares of the basic materials company’s stock worth $636,000 after purchasing an additional 54 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC increased its position in 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 worth $38,000 after buying an additional 59 shares during the period. Center for Financial Planning Inc. increased its position in Nucor by 7.9% during the fourth quarter. Center for Financial Planning Inc. now owns 822 shares of the basic materials company’s stock worth $143,000 after buying an additional 60 shares during the period. Dorsey & Whitney Trust CO LLC increased its position in Nucor by 1.7% during the third quarter. Dorsey & Whitney Trust CO LLC now owns 4,168 shares of the basic materials company’s stock worth $652,000 after buying an additional 68 shares during the period. Finally, Alps Advisors Inc. increased its position in Nucor by 3.5% during the third quarter. Alps Advisors Inc. now owns 2,066 shares of the basic materials company’s stock worth $323,000 after buying an additional 69 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Stock Performance

Shares of NYSE:NUE traded down $0.46 during trading on Friday, reaching $175.42. The company had a trading volume of 1,253,895 shares, compared to its average volume of 1,285,448. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.02 and a quick ratio of 2.35. Nucor Co. has a fifty-two week low of $129.79 and a fifty-two week high of $203.00. The firm has a market capitalization of $42.10 billion, a price-to-earnings ratio of 10.32 and a beta of 1.61. The stock’s fifty day moving average price is $190.62 and its 200 day moving average price is $174.45.

Nucor (NYSE:NUE) last posted its quarterly 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 net margin of 12.40% and a return on equity of 19.62%. The business had revenue of $8.14 billion during the quarter, compared to analysts’ expectations of $8.26 billion. During the same quarter last year, the firm earned $4.45 earnings per share. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. As a group, equities research analysts predict that Nucor Co. will post 12.5 EPS for the current year.

Nucor Dividend Announcement

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

Wall Street Analyst Weigh In

NUE has been the topic of several research analyst reports. StockNews.com lowered Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Citigroup raised Nucor from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. JPMorgan Chase & Co. cut their price target on Nucor from $195.00 to $190.00 and set a “neutral” rating on the stock in a research report on Wednesday. BMO Capital Markets cut their price target on Nucor from $210.00 to $200.00 and set a “market perform” rating on the stock in a research report on Wednesday. Finally, UBS Group started coverage on Nucor in a report on Tuesday, January 16th. They issued a “buy” rating and a $210.00 target price on the stock. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Nucor has a consensus rating of “Hold” and an average price target of $193.14.

Insider Activity at Nucor

In related news, insider Michael D. Keller sold 3,145 shares of Nucor stock in a transaction that occurred 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 sale, the insider now directly owns 24,873 shares in the company, valued at $4,817,153.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Nucor news, EVP Douglas J. Jellison sold 19,506 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $193.41, for a total value of $3,772,655.46. Following the sale, the executive vice president now owns 120,738 shares of the company’s stock, valued at $23,351,936.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael D. Keller sold 3,145 shares of the company’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 completion of the sale, the insider now directly owns 24,873 shares in the company, valued at approximately $4,817,153.91. The disclosure for this sale can be found here. Insiders have sold a total of 38,151 shares of company stock worth $7,308,683 over the last three months. 0.46% of the stock is currently owned by corporate insiders.

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.