Duncan Williams Asset Management LLC Grows Stock Holdings in Nucor Co. (NYSE:NUE)

Duncan Williams Asset Management LLC grew its stake in shares of Nucor Co. (NYSE:NUE) by 49.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,705 shares of the basic materials company’s stock after purchasing an additional 900 shares during the quarter. Duncan Williams Asset Management LLC’s holdings in Nucor were worth $316,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of NUE. State Street Corp raised its stake in Nucor by 2.9% during the 3rd quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock valued at $1,724,117,000 after purchasing an additional 326,181 shares during the period. Geode Capital Management LLC increased its holdings in Nucor by 1.3% during the third quarter. Geode Capital Management LLC now owns 5,861,945 shares of the basic materials company’s stock valued at $883,732,000 after buying an additional 74,569 shares during the period. Pacer Advisors Inc. grew its position in shares of Nucor by 19.8% in the 3rd quarter. Pacer Advisors Inc. now owns 3,456,484 shares of the basic materials company’s stock worth $519,648,000 after buying an additional 571,682 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Nucor by 3.2% during the second quarter. Legal & General Group Plc now owns 2,160,803 shares of the basic materials company’s stock worth $341,580,000 after acquiring an additional 67,974 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Nucor by 25.6% in the 4th quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company’s stock valued at $205,282,000 after acquiring an additional 358,721 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NUE. Morgan Stanley cut 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. Citigroup dropped their target price on shares of Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, December 19th. The Goldman Sachs Group began coverage on shares of Nucor in a research note on Monday, December 2nd. They set a “buy” rating and a $190.00 target price on the stock. JPMorgan Chase & Co. decreased their price target on shares of Nucor from $168.00 to $152.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, UBS Group restated a “neutral” rating and set a $156.00 target price (down previously from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $163.63.

Nucor Trading Up 0.1 %

Nucor stock opened at $122.19 on Friday. Nucor Co. has a 12 month low of $112.25 and a 12 month high of $203.00. 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 business has a 50 day moving average price of $130.66 and a two-hundred day moving average price of $143.46. 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 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 given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.80%. This is an increase from Nucor’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Tuesday, December 31st. Nucor’s dividend payout ratio (DPR) is currently 21.26%.

Insider Buying and Selling

In other Nucor news, EVP Allen C. Behr sold 4,968 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $159.72, for a total value of $793,488.96. Following the completion of the transaction, the executive vice president now directly owns 85,376 shares in the company, valued at approximately $13,636,254.72. This represents a 5.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Stephen D. Laxton sold 4,712 shares of the firm’s 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 of the company’s stock, valued at $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. In the last three months, insiders sold 29,680 shares of company stock valued at $4,773,724. 0.46% of the stock is owned by corporate insiders.

Nucor 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.