Short Interest in Nucor Co. (NYSE:NUE) Drops By 18.6%

Nucor Co. (NYSE:NUE) saw a significant drop in short interest during the month of January. As of January 15th, there was short interest totalling 4,760,000 shares, a drop of 18.6% from the December 31st total of 5,850,000 shares. Based on an average daily volume of 2,180,000 shares, the days-to-cover ratio is presently 2.2 days. Currently, 2.0% of the shares of the company are sold short.

Nucor Stock Up 0.9 %

NUE stock traded up $1.20 during trading hours on Thursday, reaching $128.07. 385,359 shares of the stock were exchanged, compared to its average volume of 2,430,604. The company has a market cap of $30.07 billion, a price-to-earnings ratio of 12.38 and a beta of 1.60. The firm’s 50-day moving average is $129.79 and its 200-day moving average is $142.83. Nucor has a 12 month low of $112.25 and a 12 month high of $203.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.28. Nucor had a net margin of 8.05% and a return on equity of 12.06%. During the same period in the prior year, the firm earned $3.16 EPS. On average, equities research analysts expect that Nucor will post 8.18 earnings per share for the current year.

Nucor Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Investors 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 yield of 1.72%. This is an increase from Nucor’s previous quarterly dividend of $0.54. The ex-dividend date is Tuesday, December 31st. Nucor’s payout ratio is presently 21.26%.

Wall Street Analyst Weigh In

NUE has been the subject of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on Nucor in a report on Monday, December 2nd. They set a “buy” rating and a $190.00 price target for the company. Jefferies Financial Group raised their target price on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. reduced their price target on shares of Nucor from $152.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday. UBS Group restated a “neutral” rating and issued a $156.00 price objective (down previously from $171.00) on shares of Nucor in a research report on Thursday, December 12th. Finally, Morgan Stanley decreased 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. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $164.63.

Insider Activity

In other Nucor news, CEO Leon J. Topalian sold 11,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total value of $1,860,210.00. Following the sale, the chief executive officer now owns 172,136 shares of the company’s stock, valued at $29,109,918.96. The trade was a 6.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Allen C. Behr sold 4,968 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $159.72, for a total transaction 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. The trade was a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,680 shares of company stock valued at $3,452,524. 0.46% of the stock is owned by insiders.

Institutional Investors Weigh In On Nucor

Institutional investors and hedge funds have recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in shares of Nucor during the 3rd quarter worth about $26,000. Coastline Trust Co bought a new stake in shares of Nucor during the third quarter worth approximately $29,000. Brown Lisle Cummings Inc. acquired a new position in shares of Nucor in the third quarter valued at approximately $30,000. Salomon & Ludwin LLC lifted its holdings in Nucor by 45.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 72 shares during the last quarter. Finally, Crews Bank & Trust bought a new stake in Nucor in the 4th quarter valued at $29,000. 76.48% of the stock is owned by institutional investors.

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.