Nucor Co. (NYSE:NUE) Shares Sold by Bridgeway Capital Management LLC

Bridgeway Capital Management LLC decreased its holdings in Nucor Co. (NYSE:NUE) by 49.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,070 shares of the basic materials company’s stock after selling 12,600 shares during the quarter. Bridgeway Capital Management LLC’s holdings in Nucor were worth $1,525,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NUE. Norges Bank purchased a new stake in Nucor in the fourth quarter valued at approximately $398,077,000. First Trust Advisors LP grew its stake in shares of Nucor by 24.6% during the 4th quarter. First Trust Advisors LP now owns 2,404,477 shares of the basic materials company’s stock valued at $280,627,000 after buying an additional 474,274 shares during the period. Voya Investment Management LLC increased its holdings in shares of Nucor by 528.6% during the 4th quarter. Voya Investment Management LLC now owns 507,715 shares of the basic materials company’s stock worth $59,235,000 after buying an additional 426,949 shares during the last quarter. Invesco Ltd. raised its position in shares of Nucor by 18.7% in the 4th quarter. Invesco Ltd. now owns 2,435,265 shares of the basic materials company’s stock worth $284,220,000 after buying an additional 384,205 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Nucor in the fourth quarter valued at $38,714,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Leon J. Topalian sold 34,238 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $120.19, for a total transaction of $4,115,065.22. Following the transaction, the chief executive officer now owns 162,993 shares of the company’s stock, valued at approximately $19,590,128.67. This trade represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.46% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. StockNews.com lowered Nucor from a “hold” rating to a “sell” rating in a research note on Wednesday, April 30th. Argus set a $155.00 price target on shares of Nucor in a research report on Wednesday, March 5th. UBS Group raised shares of Nucor from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $156.00 to $160.00 in a research report on Monday, March 24th. The Goldman Sachs Group reduced their target price on shares of Nucor from $175.00 to $169.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Finally, JPMorgan Chase & Co. lowered their price target on Nucor from $156.00 to $140.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.33.

Nucor Stock Down 0.2 %

Shares of NYSE NUE opened at $115.30 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51. Nucor Co. has a 1 year low of $97.59 and a 1 year high of $176.59. The stock’s 50-day simple moving average is $119.05 and its 200-day simple moving average is $129.42. The firm has a market cap of $26.58 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 0.96 and a beta of 1.73.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, April 28th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.15). The business had revenue of $7.83 billion for the quarter, compared to analysts’ expectations of $7.25 billion. Nucor had a return on equity of 9.85% and a net margin of 6.60%. Nucor’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.46 earnings per share. As a group, equities analysts anticipate that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.55 per share. 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 1.91%. Nucor’s dividend payout ratio (DPR) is 39.15%.

About Nucor

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.