Mediolanum International Funds Ltd Sells 30,863 Shares of Nucor Co. (NYSE:NUE)

Mediolanum International Funds Ltd cut its stake in shares of Nucor Co. (NYSE:NUE) by 32.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,565 shares of the basic materials company’s stock after selling 30,863 shares during the period. Mediolanum International Funds Ltd’s holdings in Nucor were worth $7,578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in Nucor in the third quarter worth $26,000. Coastline Trust Co bought a new stake in shares of Nucor in the 3rd quarter worth about $29,000. Brown Lisle Cummings Inc. purchased a new position in shares of Nucor during the 3rd quarter worth about $30,000. Salomon & Ludwin LLC grew its holdings in Nucor by 45.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 72 shares during the last quarter. Finally, Crews Bank & Trust purchased a new stake in Nucor in the 4th quarter worth about $29,000. 76.48% of the stock is owned by institutional investors.

Nucor Stock Down 0.2 %

NYSE:NUE opened at $128.39 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.61. The firm has a market cap of $30.15 billion, a PE ratio of 15.27 and a beta of 1.60. The company has a 50-day moving average of $128.94 and a 200 day moving average of $142.62. Nucor Co. has a 1-year low of $112.25 and a 1-year high of $203.00.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.28. Nucor had a net margin of 6.60% and a return on equity of 9.85%. During the same quarter in the prior year, the firm earned $3.16 EPS. As a group, research analysts anticipate that Nucor Co. will post 7.76 EPS for the current fiscal year.

Nucor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st will be issued a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Nucor’s previous quarterly dividend of $0.54. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.71%. Nucor’s dividend payout ratio (DPR) is currently 26.16%.

Analysts Set New Price Targets

NUE has been the subject of several recent analyst reports. Jefferies Financial Group boosted their target price on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research report on Wednesday. UBS Group restated a “neutral” rating and set a $156.00 price objective (down previously from $171.00) on shares of Nucor in a report on Thursday, December 12th. JPMorgan Chase & Co. reduced their target price on Nucor from $152.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday. Citigroup lowered their target price on shares of Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, Morgan Stanley reduced their price target 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 research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $164.63.

Insider Transactions at Nucor

In other news, CFO Stephen D. Laxton sold 4,712 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total transaction of $798,825.36. Following the completion of the sale, the chief financial officer now owns 82,132 shares in the company, valued at approximately $13,923,837.96. This represents a 5.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Allen C. Behr sold 4,968 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $159.72, for a total value of $793,488.96. Following the completion of the sale, the executive vice president now directly owns 85,376 shares of the company’s stock, valued at $13,636,254.72. The trade was a 5.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 20,680 shares of company stock valued at $3,452,524. Corporate insiders own 0.46% of the company’s stock.

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.