ORG Wealth Partners LLC Cuts Position in Nucor Co. (NYSE:NUE)

ORG Wealth Partners LLC cut its stake in Nucor Co. (NYSE:NUE) by 23.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 853 shares of the basic materials company’s stock after selling 255 shares during the quarter. ORG Wealth Partners LLC’s holdings in Nucor were worth $100,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in NUE. Private Advisor Group LLC increased its holdings in shares of Nucor by 3.4% in the 2nd quarter. Private Advisor Group LLC now owns 17,461 shares of the basic materials company’s stock valued at $2,760,000 after acquiring an additional 570 shares during the period. Quest Partners LLC purchased a new position in shares of Nucor in the 2nd quarter valued at $185,000. Headlands Technologies LLC increased its holdings in shares of Nucor by 165.8% in the 2nd quarter. Headlands Technologies LLC now owns 707 shares of the basic materials company’s stock valued at $112,000 after acquiring an additional 441 shares during the period. Qsemble Capital Management LP purchased a new position in Nucor during the 2nd quarter worth $1,712,000. Finally, Forsta AP Fonden grew its stake in Nucor by 4.1% during the 2nd quarter. Forsta AP Fonden now owns 70,300 shares of the basic materials company’s stock worth $11,113,000 after buying an additional 2,800 shares during the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Leon J. Topalian sold 11,000 shares of Nucor stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total value of $1,860,210.00. Following the completion of the transaction, the chief executive officer now owns 172,136 shares in the company, valued at $29,109,918.96. The trade was a 6.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Allen C. Behr sold 4,968 shares of Nucor 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 completion of the transaction, the executive vice president now owns 85,376 shares of the company’s stock, valued at approximately $13,636,254.72. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,680 shares of company stock valued at $4,773,724 in the last quarter. 0.46% of the stock is currently owned by company insiders.

Analyst Ratings Changes

NUE has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their target price on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Morgan Stanley dropped their target price on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. BMO Capital Markets dropped their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 18th. UBS Group restated a “neutral” rating and set a $156.00 target price (down from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Finally, Jefferies Financial Group dropped their target price on Nucor from $150.00 to $125.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $165.63.

Nucor Stock Performance

Shares of NUE opened at $118.62 on Friday. The stock has a market cap of $27.85 billion, a P/E ratio of 11.46 and a beta of 1.60. The stock has a 50-day moving average of $136.70 and a two-hundred day moving average of $145.68. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59. Nucor Co. has a one year low of $112.25 and a one year high of $203.00.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.09. The business had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The company’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.57 EPS. As a group, research analysts predict that Nucor Co. will post 8.48 EPS for the current year.

Nucor Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.85%. 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 payout ratio is 21.26%.

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.