Altshuler Shaham Ltd Trims Holdings in Nucor Co. (NYSE:NUE)

Altshuler Shaham Ltd cut its holdings in Nucor Co. (NYSE:NUE) by 30.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 258 shares of the basic materials company’s stock after selling 112 shares during the quarter. Altshuler Shaham Ltd’s holdings in Nucor were worth $45,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Mackenzie Financial Corp grew its position in Nucor by 38.6% during the 3rd quarter. Mackenzie Financial Corp now owns 28,115 shares of the basic materials company’s stock valued at $4,385,000 after purchasing an additional 7,823 shares during the last quarter. Brighton Jones LLC grew its position in Nucor by 17.4% during the 3rd quarter. Brighton Jones LLC now owns 2,116 shares of the basic materials company’s stock valued at $331,000 after purchasing an additional 314 shares during the last quarter. Strs Ohio grew its position in Nucor by 0.9% during the 3rd quarter. Strs Ohio now owns 32,423 shares of the basic materials company’s stock valued at $5,069,000 after purchasing an additional 289 shares during the last quarter. IFM Investors Pty Ltd grew its position in Nucor by 1.3% during the 3rd quarter. IFM Investors Pty Ltd now owns 49,979 shares of the basic materials company’s stock valued at $7,814,000 after purchasing an additional 633 shares during the last quarter. Finally, Advisor Partners II LLC grew its position in Nucor by 14.0% during the 3rd quarter. Advisor Partners II LLC now owns 11,958 shares of the basic materials company’s stock valued at $1,870,000 after purchasing an additional 1,464 shares during the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Michael D. Keller sold 3,145 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $4,817,153.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Nucor news, insider Michael D. Keller sold 3,145 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total transaction of $609,092.15. Following the completion of the sale, the insider now directly owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Allen C. Behr sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total transaction of $1,901,900.00. Following the sale, the executive vice president now directly owns 80,902 shares of the company’s stock, valued at $15,386,751.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,651 shares of company stock valued at $6,283,648. 0.46% of the stock is owned by corporate insiders.

Nucor Stock Performance

Shares of NYSE:NUE traded down $1.98 during trading on Wednesday, hitting $169.81. The company’s stock had a trading volume of 1,247,749 shares, compared to its average volume of 1,437,831. The company has a 50-day moving average of $187.87 and a 200-day moving average of $175.79. Nucor Co. has a 12 month low of $129.79 and a 12 month high of $203.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.02 and a quick ratio of 2.48. The firm has a market cap of $40.75 billion, a price-to-earnings ratio of 9.99 and a beta of 1.65.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, April 22nd. The basic materials company reported $3.46 earnings per share for the quarter, missing the consensus estimate of $3.62 by ($0.16). The business had revenue of $8.14 billion during the quarter, compared to the consensus estimate of $8.26 billion. Nucor had a return on equity of 19.62% and a net margin of 12.40%. Nucor’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter last year, the company earned $4.45 EPS. On average, sell-side analysts expect that Nucor Co. will post 12.55 earnings per share for the current year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Thursday, March 28th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.27%. The ex-dividend date is Wednesday, March 27th. Nucor’s dividend payout ratio is 12.71%.

Analysts Set New Price Targets

NUE has been the topic of several recent analyst reports. StockNews.com downgraded shares of Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. lowered their target price on shares of Nucor from $195.00 to $190.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. UBS Group started coverage on shares of Nucor in a research note on Tuesday, January 16th. They set a “buy” rating and a $210.00 target price on the stock. Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and upped their target price for the company from $180.00 to $240.00 in a research note on Wednesday, March 13th. Finally, BMO Capital Markets lowered their target price on shares of Nucor from $210.00 to $200.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $193.14.

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.