Counterweight Ventures LLC Acquires Shares of 11,130 Nucor Co. (NYSE:NUE)

Counterweight Ventures LLC acquired a new stake in Nucor Co. (NYSE:NUE) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,130 shares of the basic materials company’s stock, valued at approximately $1,937,000. Nucor comprises about 1.8% of Counterweight Ventures LLC’s portfolio, making the stock its 28th largest position.

Other hedge funds also recently bought and sold shares of the company. Criterion Capital Advisors LLC acquired a new stake in shares of Nucor during the 4th quarter worth approximately $25,000. Valley National Advisers Inc. increased its holdings in shares of Nucor by 716.7% during the 4th quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock worth $34,000 after buying an additional 172 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC increased its holdings in shares of Nucor by 36.6% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 220 shares of the basic materials company’s stock worth $38,000 after buying an additional 59 shares during the last quarter. Private Wealth Management Group LLC acquired a new stake in shares of Nucor during the 4th quarter worth approximately $38,000. Finally, Exchange Traded Concepts LLC increased its holdings in shares of Nucor by 2,410.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 251 shares of the basic materials company’s stock worth $44,000 after buying an additional 241 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Activity

In related news, insider Michael D. Keller sold 3,145 shares of Nucor stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total transaction of $609,092.15. Following the sale, the insider now directly 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 through this hyperlink. In related news, EVP Douglas J. Jellison sold 19,506 shares of Nucor stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the sale, the executive vice president now directly owns 120,738 shares in the company, valued at approximately $23,351,936.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael D. Keller sold 3,145 shares of Nucor stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total transaction of $609,092.15. Following the sale, the insider now owns 24,873 shares in the company, valued at $4,817,153.91. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,651 shares of company stock worth $6,283,648. 0.46% of the stock is currently owned by corporate insiders.

Nucor Stock Up 0.4 %

Shares of NUE traded up $0.57 during midday trading on Friday, reaching $154.69. The stock had a trading volume of 2,206,597 shares, compared to its average volume of 1,319,026. Nucor Co. has a 1-year low of $140.07 and a 1-year high of $203.00. The company’s fifty day simple moving average is $174.35 and its two-hundred day simple moving average is $178.46. The company has a market cap of $37.09 billion, a price-to-earnings ratio of 9.10 and a beta of 1.60. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.02 and a quick ratio of 2.48.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, April 22nd. The basic materials company reported $3.46 earnings per share 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 19.62%. The firm had revenue of $8.14 billion during the quarter, compared to analyst estimates of $8.26 billion. During the same quarter in the previous year, the business posted $4.45 earnings per share. Nucor’s revenue for the quarter was down 6.6% compared to the same quarter last year. Equities research analysts expect that Nucor Co. will post 11.96 earnings per share for the current year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, June 28th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.40%. Nucor’s payout ratio is 12.71%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. BMO Capital Markets cut their price target on shares of Nucor from $210.00 to $200.00 and set a “market perform” rating for the company in a report on Wednesday, April 24th. StockNews.com cut shares of Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Jefferies Financial Group started coverage on shares of Nucor in a research report on Monday, May 20th. They set a “hold” rating and a $190.00 price objective for the company. Citigroup raised shares of Nucor from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Nucor from $190.00 to $180.00 and set a “neutral” rating for the company in a research report on Tuesday, June 11th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $191.50.

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.