CFS Investment Advisory Services LLC Has $2.18 Million Position in Nucor Co. (NYSE:NUE)

CFS Investment Advisory Services LLC cut its holdings in Nucor Co. (NYSE:NUE) by 0.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 18,686 shares of the basic materials company’s stock after selling 93 shares during the quarter. CFS Investment Advisory Services LLC’s holdings in Nucor were worth $2,181,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of NUE. Renaissance Technologies LLC raised its holdings in shares of Nucor by 4.3% during the second quarter. Renaissance Technologies LLC now owns 9,700 shares of the basic materials company’s stock worth $1,533,000 after acquiring an additional 400 shares during the period. Sei Investments Co. raised its stake in shares of Nucor by 91.4% in the 2nd quarter. Sei Investments Co. now owns 55,770 shares of the basic materials company’s stock valued at $8,816,000 after purchasing an additional 26,638 shares during the period. Public Sector Pension Investment Board lifted its holdings 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 valued at $1,439,000 after purchasing an additional 3,574 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Nucor by 3.0% during the second quarter. Bank of Montreal Can now owns 249,083 shares of the basic materials company’s stock worth $39,522,000 after buying an additional 7,157 shares during the period. Finally, AXA S.A. grew its holdings in shares of Nucor by 88.4% during the second quarter. AXA S.A. now owns 81,397 shares of the basic materials company’s stock worth $12,867,000 after buying an additional 38,200 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Nucor

In other Nucor news, EVP Allen C. Behr sold 4,968 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $159.72, for a total value of $793,488.96. Following the transaction, the executive vice president now directly owns 85,376 shares of the company’s stock, valued at $13,636,254.72. This represents a 5.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kenneth Rex Query sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total value of $1,321,200.00. Following the sale, the executive vice president now owns 98,770 shares of the company’s stock, valued at approximately $14,499,436. This represents a 8.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,680 shares of company stock valued at $4,773,724 in the last quarter. 0.46% of the stock is currently owned by insiders.

Nucor Price Performance

NYSE:NUE 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 firm has a market capitalization of $28.69 billion, a price-to-earnings ratio of 11.81 and a beta of 1.60. The stock’s 50 day moving average price is $131.15 and its two-hundred day moving average price is $143.67. 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Tuesday, December 31st will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a 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 dividend payout ratio is 21.26%.

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.