IHT Wealth Management LLC Has $647,000 Stake in Nucor Co. (NYSE:NUE)

IHT Wealth Management LLC boosted its holdings in shares of Nucor Co. (NYSE:NUE – Get Rating) by 13.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,047 shares of the basic materials company’s stock after buying an additional 726 shares during the quarter. IHT Wealth Management LLC’s holdings in Nucor were worth $647,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in NUE. FMR LLC grew its position in shares of Nucor by 12.5% in the second quarter. FMR LLC now owns 7,935,947 shares of the basic materials company’s stock valued at $828,592,000 after purchasing an additional 878,821 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Nucor by 34.7% in the second quarter. Wells Fargo & Company MN now owns 1,729,945 shares of the basic materials company’s stock valued at $180,625,000 after purchasing an additional 446,034 shares during the last quarter. First Trust Advisors LP grew its position in shares of Nucor by 97.8% in the first quarter. First Trust Advisors LP now owns 820,706 shares of the basic materials company’s stock valued at $121,998,000 after purchasing an additional 405,815 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in shares of Nucor by 268.0% in the second quarter. BNP Paribas Arbitrage SA now owns 482,427 shares of the basic materials company’s stock valued at $50,370,000 after purchasing an additional 351,316 shares during the last quarter. Finally, Captrust Financial Advisors grew its position in shares of Nucor by 113.6% in the third quarter. Captrust Financial Advisors now owns 567,084 shares of the basic materials company’s stock valued at $60,672,000 after purchasing an additional 301,535 shares during the last quarter. 78.33% of the stock is owned by institutional investors and hedge funds.

Nucor Stock Down 0.9 %

Shares of NUE opened at $144.12 on Friday. The stock has a market cap of $36.31 billion, a price-to-earnings ratio of 5.02 and a beta of 1.59. The company has a quick ratio of 2.13, a current ratio of 3.39 and a debt-to-equity ratio of 0.34. Nucor Co. has a 12 month low of $100.13 and a 12 month high of $187.90. The company has a 50-day moving average price of $162.85 and a two-hundred day moving average price of $143.13.

Nucor (NYSE:NUE – Get Rating) last announced its quarterly earnings results on Thursday, January 26th. The basic materials company reported $4.89 EPS for the quarter, topping analysts’ consensus estimates of $4.18 by $0.71. The firm had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.54 billion. Nucor had a net margin of 18.33% and a return on equity of 42.03%. The company’s revenue for the quarter was down 15.8% compared to the same quarter last year. During the same quarter last year, the company earned $7.97 earnings per share. Equities analysts predict that Nucor Co. will post 14.35 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 11th. Stockholders of record on Friday, March 31st will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Thursday, March 30th. Nucor’s dividend payout ratio (DPR) is currently 7.10%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Credit Suisse Group lifted their target price on Nucor from $140.00 to $156.00 and gave the stock an “outperform” rating in a research report on Friday. BMO Capital Markets lifted their target price on Nucor from $155.00 to $165.00 and gave the stock a “market perform” rating in a research report on Friday, January 27th. UBS Group lifted their target price on Nucor from $120.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 6th. StockNews.com assumed coverage on Nucor in a research report on Thursday. They set a “hold” rating on the stock. Finally, Bank of America assumed coverage on Nucor in a research report on Wednesday, January 4th. They set a “buy” rating and a $172.00 target price on the stock. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $153.44.

Insider Activity

In other news, EVP Kenneth Rex Query sold 1,962 shares of Nucor stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $177.99, for a total value of $349,216.38. Following the completion of the transaction, the executive vice president now owns 74,138 shares in the company, valued at $13,195,822.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Leon J. Topalian sold 3,000 shares of Nucor stock in a transaction that occurred on Tuesday, December 20th. The shares were sold at an average price of $134.71, for a total value of $404,130.00. Following the completion of the transaction, the chief executive officer now owns 126,809 shares in the company, valued at $17,082,440.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kenneth Rex Query sold 1,962 shares of the firm’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $177.99, for a total transaction of $349,216.38. Following the completion of the sale, the executive vice president now directly owns 74,138 shares of the company’s stock, valued at approximately $13,195,822.62. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,575 shares of company stock worth $2,034,130. Insiders own 0.46% of the company’s stock.

Nucor Profile

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Nucor Corp. engages in the manufacturing of steel and steel products. It operates through the following segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment consists of carbon and alloy steel in sheet, bars, structural and plate, steel trading businesses, rebar distribution businesses, and Nucor’s equity method investments.