Nucor Co. (NYSE:NUE) Holdings Decreased by Global Financial Private Client LLC

Global Financial Private Client LLC reduced its holdings in Nucor Co. (NYSE:NUE) by 90.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 637 shares of the basic materials company’s stock after selling 5,754 shares during the period. Global Financial Private Client LLC’s holdings in Nucor were worth $74,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of NUE. Ashton Thomas Securities LLC acquired a new position in shares of Nucor in the 3rd quarter valued at about $26,000. Coastline Trust Co acquired a new position in Nucor in the 3rd quarter valued at approximately $29,000. Brown Lisle Cummings Inc. acquired a new position in Nucor in the 3rd quarter valued at approximately $30,000. Salomon & Ludwin LLC lifted its position in Nucor by 45.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after buying an additional 72 shares in the last quarter. Finally, Carolina Wealth Advisors LLC acquired a new stake in shares of Nucor during the 3rd quarter valued at $43,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NUE has been the topic of a number of research reports. The Goldman Sachs Group initiated coverage on shares of Nucor in a research note on Monday, December 2nd. They issued a “buy” rating and a $190.00 price target on the stock. UBS Group restated a “neutral” rating and set a $156.00 price target (down previously from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Morgan Stanley reduced their price objective on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their target price on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, Citigroup cut their target price on Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $165.63.

Nucor Stock Down 0.9 %

Nucor stock opened at $121.73 on Wednesday. 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 Co. has a fifty-two week low of $112.25 and a fifty-two week high of $203.00. The firm has a fifty day moving average price of $135.85 and a two-hundred day moving average price of $145.10. The firm has a market cap of $28.58 billion, a price-to-earnings ratio of 11.76 and a beta of 1.60.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, topping 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 firm’s revenue was down 15.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.57 EPS. As a group, analysts forecast that Nucor Co. will post 8.48 earnings per share 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 paid a $0.55 dividend. This is an increase from Nucor’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.20 annualized dividend and a dividend yield of 1.81%. Nucor’s dividend payout ratio (DPR) is presently 21.26%.

Insider Buying and Selling

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

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.