Captrust Financial Advisors bought a new stake in shares of Nucor Co. (NYSE:NUE) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 28,474 shares of the basic materials company’s stock, valued at approximately $1,821,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of NUE. Independence Bank of Kentucky purchased a new position in Nucor during the fourth quarter valued at $100,000. Barrett Asset Management LLC purchased a new position in Nucor during the fourth quarter valued at $101,000. Cerebellum GP LLC purchased a new position in Nucor during the fourth quarter valued at $131,000. Financial Gravity Companies Inc. purchased a new position in Nucor during the fourth quarter valued at $140,000. Finally, Dupont Capital Management Corp purchased a new position in Nucor during the fourth quarter valued at $176,000. 80.16% of the stock is owned by institutional investors.
In related news, Director Victoria F. Haynes sold 3,000 shares of Nucor stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $69.12, for a total transaction of $207,360.00. Following the completion of the transaction, the director now directly owns 30,573 shares of the company’s stock, valued at approximately $2,113,205.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO James D. Frias sold 39,037 shares of Nucor stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $68.31, for a total transaction of $2,666,617.47. Following the transaction, the chief financial officer now directly owns 177,204 shares of the company’s stock, valued at $12,104,805.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 95,387 shares of company stock valued at $6,285,411. 0.70% of the stock is owned by corporate insiders.
Nucor (NYSE:NUE) last released its quarterly earnings results on Tuesday, January 30th. The basic materials company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.10. Nucor had a net margin of 6.58% and a return on equity of 13.03%. The firm had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same period in the previous year, the company earned $0.50 EPS. The firm’s revenue for the quarter was up 28.7% compared to the same quarter last year. sell-side analysts anticipate that Nucor Co. will post 4.92 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 11th. Investors of record on Thursday, March 29th will be paid a dividend of $0.38 per share. The ex-dividend date is Wednesday, March 28th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.25%. Nucor’s dividend payout ratio is presently 42.82%.
Several research firms recently weighed in on NUE. Credit Suisse Group raised their target price on shares of Nucor from $67.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. BMO Capital Markets raised their target price on shares of Nucor to $72.00 and gave the company a “market perform” rating in a research note on Wednesday, January 31st. They noted that the move was a valuation call. Bank of America set a $75.00 target price on shares of Nucor and gave the company a “buy” rating in a research note on Monday, January 8th. Morgan Stanley dropped their price objective on shares of Nucor from $70.00 to $68.00 and set a “hold” rating for the company in a research note on Tuesday, February 6th. Finally, ValuEngine raised shares of Nucor from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. Nucor presently has an average rating of “Buy” and an average price target of $69.70.
TRADEMARK VIOLATION WARNING: This news story was first posted by American Banking News and is the property of of American Banking News. If you are viewing this news story on another site, it was copied illegally and reposted in violation of international copyright & trademark law. The correct version of this news story can be read at https://www.americanbankingnews.com/2018/03/13/captrust-financial-advisors-takes-position-in-nucor-co-nue.html.
Nucor Company Profile
Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).
Receive News & Ratings for Nucor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor and related companies with MarketBeat.com's FREE daily email newsletter.