Wedge Capital Management L L P NC Has $7.37 Million Holdings in Nucor Co. (NYSE:NUE)

Wedge Capital Management L L P NC lifted its position in shares of Nucor Co. (NYSE:NUE) by 24.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,365 shares of the basic materials company’s stock after purchasing an additional 8,230 shares during the period. Wedge Capital Management L L P NC’s holdings in Nucor were worth $7,373,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Criterion Capital Advisors LLC purchased a new stake in Nucor in the 4th quarter worth about $25,000. Valley National Advisers Inc. increased its stake in shares of Nucor by 716.7% during the fourth quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 172 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC increased its holdings in 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 valued at $38,000 after buying an additional 59 shares during the last quarter. OFI Invest Asset Management bought a new position in Nucor in the 3rd quarter worth $40,000. Finally, Exchange Traded Concepts LLC increased its stake in Nucor by 2,410.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 251 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 241 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Allen C. Behr sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total value of $1,901,900.00. Following the completion of the sale, the executive vice president now owns 80,902 shares of the company’s stock, valued at $15,386,751.38. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Nucor 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 value of $609,092.15. Following the completion of the sale, the insider now owns 24,873 shares in the company, valued at approximately $4,817,153.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Allen C. Behr sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total value of $1,901,900.00. Following the transaction, the executive vice president now owns 80,902 shares of the company’s stock, valued at approximately $15,386,751.38. The disclosure for this sale can be found here. Insiders sold a total of 38,151 shares of company stock valued at $7,308,683 in the last quarter. Company insiders own 0.64% of the company’s stock.

Nucor Stock Down 8.9 %

Shares of NUE stock opened at $174.64 on Wednesday. The business’s fifty day moving average is $191.20 and its 200-day moving average is $174.18. The stock has a market cap of $41.91 billion, a PE ratio of 10.27 and a beta of 1.61. Nucor Co. has a 1 year low of $129.79 and a 1 year high of $203.00. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.35 and a current ratio of 3.57.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Tuesday, April 23rd. 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 19.67%. The company had revenue of $8.14 billion for the quarter, compared to analysts’ expectations of $8.26 billion. During the same period in the previous year, the firm posted $4.45 earnings per share. The business’s revenue for the quarter was down 6.6% on a year-over-year basis. Equities analysts expect that Nucor Co. will post 12.93 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, March 28th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.24%. The ex-dividend date is Wednesday, March 27th. Nucor’s payout ratio is presently 12.71%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NUE. JPMorgan Chase & Co. boosted their price target on Nucor from $180.00 to $195.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and boosted their target price for the company from $180.00 to $240.00 in a research report on Wednesday, March 13th. UBS Group started coverage on shares of Nucor in a research report on Tuesday, January 16th. They issued a “buy” rating and a $210.00 price objective for the company. Finally, StockNews.com cut Nucor from a “buy” rating to a “hold” rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $192.83.

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.