Larson Financial Group LLC Sells 206 Shares of Nucor Co. (NYSE:NUE)

Larson Financial Group LLC lowered its stake in Nucor Co. (NYSE:NUE) by 25.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 593 shares of the basic materials company’s stock after selling 206 shares during the period. Larson Financial Group LLC’s holdings in Nucor were worth $69,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in shares of Nucor in the 3rd quarter worth about $26,000. Coastline Trust Co purchased a new stake in Nucor in the third quarter worth about $29,000. Crews Bank & Trust bought a new stake in Nucor during the 4th quarter valued at approximately $29,000. New Wave Wealth Advisors LLC bought a new stake in Nucor during the 4th quarter valued at approximately $33,000. Finally, Versant Capital Management Inc grew its holdings in shares of Nucor by 60.3% during the 4th quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 114 shares during the period. 76.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NUE. The Goldman Sachs Group initiated coverage on Nucor in a research note on Monday, December 2nd. They issued a “buy” rating and a $190.00 target price for the company. Jefferies Financial Group raised their price objective on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. UBS Group reaffirmed a “neutral” rating and issued a $156.00 target price (down from $171.00) on shares of Nucor in a research report on Thursday, December 12th. StockNews.com raised shares of Nucor from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. Finally, 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 report on Thursday, December 19th. Four 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $164.33.

Nucor Price Performance

Shares of NUE opened at $131.21 on Thursday. Nucor Co. has a twelve month low of $112.25 and a twelve month high of $203.00. The company has a market capitalization of $30.25 billion, a P/E ratio of 15.60, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58. The firm has a 50 day moving average of $129.12 and a 200 day moving average of $138.76. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27.

Nucor (NYSE:NUE) last posted its earnings results on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.28. Nucor had a return on equity of 9.85% and a net margin of 6.60%. During the same period last year, the business posted $3.16 earnings per share. As a group, equities research analysts anticipate that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Monday, March 31st. Nucor’s payout ratio is presently 26.16%.

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.