FNY Investment Advisers LLC Purchases Shares of 1,400 Nucor Co. (NYSE:NUE)

FNY Investment Advisers LLC acquired a new position in shares of Nucor Co. (NYSE:NUE) during the 4th quarter, Holdings Channel reports. The fund acquired 1,400 shares of the basic materials company’s stock, valued at approximately $163,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp increased its position in Nucor by 2.9% in the third quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock worth $1,724,117,000 after purchasing an additional 326,181 shares during the last quarter. National Pension Service increased its holdings in shares of Nucor by 3.2% in the 3rd quarter. National Pension Service now owns 652,502 shares of the basic materials company’s stock worth $98,097,000 after buying an additional 20,258 shares during the last quarter. Everence Capital Management Inc. bought a new stake in shares of Nucor in the 4th quarter worth about $565,000. BIP Wealth LLC purchased a new stake in shares of Nucor during the 3rd quarter valued at about $681,000. Finally, Ascension Asset Management LLC bought a new position in shares of Nucor in the 2nd quarter valued at about $885,000. 76.48% of the stock is currently owned by institutional investors.

Nucor Stock Performance

NUE stock opened at $121.73 on Wednesday. Nucor Co. has a twelve month low of $112.25 and a twelve month high of $203.00. The firm has a market cap of $28.58 billion, a price-to-earnings ratio of 11.76 and a beta of 1.60. The business’s fifty day simple moving average is $135.85 and its two-hundred day simple moving average is $145.10. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.40 by $0.09. The company had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The firm’s revenue was down 15.2% compared to the same quarter last year. During the same quarter last year, the firm posted $4.57 EPS. Analysts predict that Nucor Co. will post 8.48 earnings per share for the current year.

Nucor Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Tuesday, December 31st will be issued a $0.55 dividend. This is a positive change from Nucor’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.81%. Nucor’s payout ratio is presently 21.26%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. The Goldman Sachs Group began coverage on Nucor in a research note on Monday, December 2nd. They set a “buy” rating and a $190.00 price objective on the stock. Jefferies Financial Group cut their target price on Nucor from $150.00 to $125.00 and set a “hold” rating on the stock in a research report on Monday, January 6th. UBS Group restated a “neutral” rating and issued a $156.00 price target (down from $171.00) on shares of Nucor in a research report on Thursday, December 12th. Citigroup cut their price objective on shares of Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, Morgan Stanley reduced their target price on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $165.63.

Insider Buying and Selling

In other news, EVP Kenneth Rex Query sold 9,000 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the completion of the sale, the executive vice president now owns 98,770 shares in the company, valued at approximately $14,499,436. The trade was a 8.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Leon J. Topalian sold 11,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the transaction, the chief executive officer now owns 172,136 shares in the company, valued at approximately $29,109,918.96. This represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,680 shares of company stock valued at $4,773,724 over the last quarter. 0.46% of the stock is owned by corporate insiders.

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.