Westpac Banking Corp Lowers Holdings in Nucor Co. (NYSE:NUE)

Westpac Banking Corp lessened its holdings in Nucor Co. (NYSE:NUEFree Report) by 5.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,777 shares of the basic materials company’s stock after selling 1,311 shares during the period. Westpac Banking Corp’s holdings in Nucor were worth $3,790,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SVB Wealth LLC lifted its position in shares of 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 in the last quarter. Kestra Private Wealth Services LLC grew its stake in shares of Nucor by 0.8% in the fourth quarter. Kestra Private Wealth Services LLC now owns 7,191 shares of the basic materials company’s stock worth $1,252,000 after acquiring an additional 55 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC increased its position in shares of 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 acquiring an additional 59 shares during the period. Center for Financial Planning Inc. increased its position in shares of 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 acquiring an additional 60 shares during the period. Finally, Dorsey & Whitney Trust CO LLC raised its stake in shares of Nucor by 1.7% in the third quarter. Dorsey & Whitney Trust CO LLC now owns 4,168 shares of the basic materials company’s stock valued at $652,000 after acquiring an additional 68 shares in the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Michael D. Keller sold 3,145 shares of the stock in a transaction on Thursday, March 21st. The stock was 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 $4,817,153.91. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Nucor news, EVP Douglas J. Jellison sold 19,506 shares of the 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 completion of the transaction, the executive vice president now owns 120,738 shares in the company, valued at $23,351,936.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael D. Keller sold 3,145 shares of the stock in a transaction dated 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 transaction, the insider now owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,651 shares of company stock valued at $6,283,648. Company insiders own 0.64% of the company’s stock.

Nucor Stock Performance

Shares of NUE traded up $2.80 during mid-day trading on Wednesday, reaching $175.42. 521,972 shares of the company’s stock were exchanged, compared to its average volume of 1,411,499. The business’s fifty day simple moving average is $186.92 and its 200-day simple moving average is $176.62. The stock has a market capitalization of $42.06 billion, a PE ratio of 10.30 and a beta of 1.65. Nucor Co. has a 52-week low of $129.79 and a 52-week 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.

Nucor (NYSE:NUEGet Free Report) last announced its earnings results on Monday, April 22nd. The basic materials company reported $3.46 EPS 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 period in the previous year, the company posted $4.45 earnings per share. Nucor’s quarterly revenue was down 6.6% on a year-over-year basis. On average, equities research analysts expect that Nucor Co. will post 12.44 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Thursday, March 28th were paid a $0.54 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.23%. Nucor’s dividend payout ratio (DPR) is currently 12.71%.

Analysts Set New Price Targets

Several brokerages have weighed in on NUE. 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 report on Wednesday, April 24th. Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and upped their target price for the stock from $180.00 to $240.00 in a research note on Wednesday, March 13th. StockNews.com downgraded shares of Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. UBS Group began coverage on shares of Nucor in a research report on Tuesday, January 16th. They issued a “buy” rating and a $210.00 price objective on the stock. Finally, BMO Capital Markets decreased their price objective on shares of Nucor from $210.00 to $200.00 and set a “market perform” rating for the company in a research report on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $193.14.

Check Out Our Latest Stock Analysis on NUE

Nucor Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding NUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nucor Co. (NYSE:NUEFree Report).

Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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.