CX Institutional Has $1.51 Million Stake in Nucor Co. (NYSE:NUE)

CX Institutional increased its stake in Nucor Co. (NYSE:NUE) by 0.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 12,976 shares of the basic materials company’s stock after purchasing an additional 102 shares during the quarter. CX Institutional’s holdings in Nucor were worth $1,514,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in NUE. Renaissance Technologies LLC raised its position in Nucor by 4.3% in the 2nd quarter. Renaissance Technologies LLC now owns 9,700 shares of the basic materials company’s stock valued at $1,533,000 after buying an additional 400 shares during the last quarter. Sei Investments Co. lifted its position in shares of Nucor by 91.4% in the second quarter. Sei Investments Co. now owns 55,770 shares of the basic materials company’s stock worth $8,816,000 after purchasing an additional 26,638 shares in the last quarter. Public Sector Pension Investment Board lifted its position in shares of Nucor by 64.7% in the second quarter. Public Sector Pension Investment Board now owns 9,100 shares of the basic materials company’s stock worth $1,439,000 after purchasing an additional 3,574 shares in the last quarter. Bank of Montreal Can grew its position in Nucor by 3.0% in the second quarter. Bank of Montreal Can now owns 249,083 shares of the basic materials company’s stock valued at $39,522,000 after purchasing an additional 7,157 shares in the last quarter. Finally, AXA S.A. grew its position in Nucor by 88.4% in the second quarter. AXA S.A. now owns 81,397 shares of the basic materials company’s stock valued at $12,867,000 after purchasing an additional 38,200 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

NUE has been the subject of a number of recent research reports. Citigroup reduced their price objective 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. Morgan Stanley decreased their price target on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. The Goldman Sachs Group started coverage on Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 price target on the stock. Jefferies Financial Group cut their price objective on Nucor from $150.00 to $125.00 and set a “hold” rating for the company in a report on Monday, January 6th. Finally, UBS Group restated a “neutral” rating and set a $156.00 target price (down from $171.00) on shares of Nucor in a report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $163.63.

Nucor Trading Up 0.1 %

NUE stock opened at $122.19 on Friday. The stock has a market cap of $28.69 billion, a price-to-earnings ratio of 11.81 and a beta of 1.60. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61. The company has a fifty day moving average price of $131.15 and a two-hundred day moving average price of $143.67. Nucor Co. has a one year low of $112.25 and a one year high of $203.00.

Nucor Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Nucor’s previous quarterly dividend of $0.54. Nucor’s payout ratio is currently 21.26%.

Insider Activity

In other Nucor news, EVP Kenneth Rex Query sold 9,000 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the transaction, the executive vice president now owns 98,770 shares in the company, valued at $14,499,436. This represents a 8.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Stephen D. Laxton sold 4,712 shares of Nucor stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 of the company’s stock, valued at approximately $13,923,837.96. The trade was a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,680 shares of company stock valued at $4,773,724. 0.46% of the stock is owned by insiders.

About Nucor

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.