CNB Bank Raises Holdings in Nucor Co. (NUE)

CNB Bank grew its position in shares of Nucor Co. (NYSE:NUE) by 20.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,082 shares of the basic materials company’s stock after purchasing an additional 1,545 shares during the quarter. CNB Bank’s holdings in Nucor were worth $471,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Capital Investment Advisory Services LLC purchased a new position in shares of Nucor during the fourth quarter worth about $39,000. Essex Savings Bank purchased a new position in shares of Nucor during the fourth quarter worth about $47,000. Oregon Public Employees Retirement Fund grew its holdings in shares of Nucor by 5,010.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,498,507 shares of the basic materials company’s stock worth $87,000 after buying an additional 4,410,481 shares during the last quarter. Central Bank & Trust Co. grew its holdings in shares of Nucor by 21.6% during the fourth quarter. Central Bank & Trust Co. now owns 1,889 shares of the basic materials company’s stock worth $98,000 after buying an additional 336 shares during the last quarter. Finally, Atlas Capital Advisors LLC grew its holdings in shares of Nucor by 20.2% during the fourth quarter. Atlas Capital Advisors LLC now owns 1,939 shares of the basic materials company’s stock worth $100,000 after buying an additional 326 shares during the last quarter. 77.56% of the stock is currently owned by institutional investors.

In other Nucor news, Chairman John J. Ferriola sold 87,719 shares of Nucor stock in a transaction that occurred on Thursday, January 31st. The stock was sold at an average price of $60.35, for a total value of $5,293,841.65. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.80% of the stock is currently owned by insiders.

NUE has been the topic of a number of research reports. Credit Suisse Group raised Nucor from a “neutral” rating to an “outperform” rating in a report on Tuesday, January 8th. BMO Capital Markets lowered their price target on Nucor from $75.00 to $70.00 and set a “market perform” rating on the stock in a report on Friday, October 19th. Cowen initiated coverage on Nucor in a report on Tuesday, January 8th. They set an “outperform” rating and a $62.00 price target on the stock. Argus reissued a “buy” rating on shares of Nucor in a report on Tuesday, October 23rd. Finally, ValuEngine lowered Nucor from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $71.45.

Shares of NUE opened at $61.58 on Wednesday. Nucor Co. has a twelve month low of $49.79 and a twelve month high of $69.79. The company has a market capitalization of $18.78 billion, a price-to-earnings ratio of 8.08, a price-to-earnings-growth ratio of 0.83 and a beta of 1.51. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.45 and a current ratio of 3.08.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Tuesday, January 29th. The basic materials company reported $2.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.93 by $0.14. Nucor had a return on equity of 24.57% and a net margin of 9.42%. The company had revenue of $6.30 billion for the quarter, compared to analyst estimates of $6.29 billion. During the same quarter in the previous year, the company earned $0.65 EPS. The firm’s revenue for the quarter was up 23.6% compared to the same quarter last year. Analysts expect that Nucor Co. will post 5.99 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 11th. Shareholders of record on Monday, December 31st were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.60%. 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. Nucor’s payout ratio is currently 21.00%.

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About Nucor

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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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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