Nucor Co. (NYSE:NUE) Shares Sold by Planned Solutions Inc.

Planned Solutions Inc. decreased its holdings in Nucor Co. (NYSE:NUE) by 4.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,059 shares of the basic materials company’s stock after selling 85 shares during the quarter. Planned Solutions Inc.’s holdings in Nucor were worth $240,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Ashton Thomas Securities LLC acquired a new position in shares of Nucor during the 3rd quarter worth approximately $26,000. Coastline Trust Co purchased a new stake in Nucor in the 3rd quarter worth $29,000. Brown Lisle Cummings Inc. acquired a new position in Nucor during the third quarter worth $30,000. Salomon & Ludwin LLC raised its position in Nucor by 45.6% during the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 72 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in Nucor by 60.3% during the fourth quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Stock Up 0.3 %

Shares of NUE opened at $124.95 on Wednesday. Nucor Co. has a 52-week low of $112.25 and a 52-week high of $203.00. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. The stock has a fifty day simple moving average of $132.82 and a two-hundred day simple moving average of $144.17. The company has a market capitalization of $29.34 billion, a PE ratio of 12.07 and a beta of 1.60.

Nucor (NYSE:NUE) last issued its earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.09. The company had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. Nucor’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.57 earnings per share. As a group, equities analysts forecast that Nucor Co. will post 8.13 EPS for the current year.

Nucor Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Nucor’s previous quarterly dividend of $0.54. Nucor’s payout ratio is presently 21.26%.

Analysts Set New Price Targets

A number of research firms have recently commented on NUE. UBS Group reissued a “neutral” rating and set a $156.00 target price (down previously from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Citigroup reduced their target price on Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Jefferies Financial Group lowered their price target on Nucor from $150.00 to $125.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. JPMorgan Chase & Co. reduced their price objective on Nucor from $168.00 to $152.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, The Goldman Sachs Group started coverage on shares of Nucor in a research note on Monday, December 2nd. They set a “buy” rating and a $190.00 target price on the stock. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $163.63.

Insider Activity at Nucor

In other news, EVP Kenneth Rex Query sold 9,000 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 98,770 shares of the company’s stock, valued at $14,499,436. This represents a 8.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Stephen D. Laxton sold 4,712 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total value of $798,825.36. Following the sale, the chief financial officer now directly owns 82,132 shares of the company’s stock, valued at $13,923,837.96. The trade was a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,680 shares of company stock worth $4,773,724. Insiders own 0.64% of the company’s stock.

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.