Perigon Wealth Management LLC Decreases Stock Position in Nucor Co. (NYSE:NUE)

Perigon Wealth Management LLC lowered its stake in Nucor Co. (NYSE:NUE – Get Rating) by 16.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,808 shares of the basic materials company’s stock after selling 569 shares during the period. Perigon Wealth Management LLC’s holdings in Nucor were worth $300,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Lumature Wealth Partners LLC increased its holdings in Nucor by 4.0% during the 3rd quarter. Lumature Wealth Partners LLC now owns 1,983 shares of the basic materials company’s stock valued at $212,000 after purchasing an additional 76 shares during the period. Retirement Guys Formula LLC increased its holdings in Nucor by 1.9% during the 3rd quarter. Retirement Guys Formula LLC now owns 4,135 shares of the basic materials company’s stock valued at $442,000 after purchasing an additional 79 shares during the period. SRS Capital Advisors Inc. increased its holdings in Nucor by 2.0% during the 3rd quarter. SRS Capital Advisors Inc. now owns 4,088 shares of the basic materials company’s stock valued at $437,000 after purchasing an additional 81 shares during the period. Equitable Holdings Inc. increased its holdings in Nucor by 4.0% during the 3rd quarter. Equitable Holdings Inc. now owns 2,092 shares of the basic materials company’s stock valued at $224,000 after purchasing an additional 81 shares during the period. Finally, Laidlaw Wealth Management LLC increased its holdings in Nucor by 2.0% during the 3rd quarter. Laidlaw Wealth Management LLC now owns 4,301 shares of the basic materials company’s stock valued at $460,000 after purchasing an additional 85 shares during the period. Hedge funds and other institutional investors own 78.33% of the company’s stock.

Analysts Set New Price Targets

NUE has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their price target on Nucor from $144.00 to $161.00 and gave the company a “neutral” rating in a report on Friday, March 10th. StockNews.com initiated coverage on Nucor in a report on Thursday. They set a “hold” rating on the stock. BMO Capital Markets upped their target price on Nucor from $155.00 to $165.00 and gave the stock a “market perform” rating in a report on Friday, January 27th. Morgan Stanley upped their target price on Nucor from $113.00 to $122.00 and gave the stock an “equal weight” rating in a report on Monday, January 30th. Finally, UBS Group upped their target price on Nucor from $120.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, December 6th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $153.44.

Nucor Stock Performance

NUE stock opened at $144.12 on Friday. The stock has a market capitalization of $36.31 billion, a PE ratio of 5.02 and a beta of 1.59. Nucor Co. has a 12-month low of $100.13 and a 12-month high of $187.90. The company has a current ratio of 3.39, a quick ratio of 2.13 and a debt-to-equity ratio of 0.34. The stock’s 50 day simple moving average is $162.85 and its 200 day simple moving average is $143.13.

Nucor (NYSE:NUE – Get Rating) last released its quarterly earnings data on Thursday, January 26th. The basic materials company reported $4.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.18 by $0.71. The business had revenue of $8.72 billion for the quarter, compared to analysts’ expectations of $8.54 billion. Nucor had a return on equity of 42.03% and a net margin of 18.33%. The firm’s quarterly revenue was down 15.8% on a year-over-year basis. During the same period in the prior year, the firm posted $7.97 EPS. As a group, research analysts forecast that Nucor Co. will post 14.35 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 11th. Investors of record on Friday, March 31st will be given a $0.51 dividend. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $2.04 annualized dividend and a yield of 1.42%. Nucor’s dividend payout ratio (DPR) is presently 7.10%.

Insider Activity at Nucor

In other Nucor news, EVP Daniel R. Needham sold 5,000 shares of the business’s stock in a transaction on Monday, January 30th. The shares were sold at an average price of $168.36, for a total transaction of $841,800.00. Following the completion of the sale, the executive vice president now directly owns 61,137 shares in the company, valued at approximately $10,293,025.32. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Nucor news, CEO Leon J. Topalian sold 3,000 shares of the business’s stock in a transaction on Tuesday, December 20th. The shares were sold at an average price of $134.71, for a total transaction of $404,130.00. Following the completion of the sale, the chief executive officer now directly owns 126,809 shares in the company, valued at approximately $17,082,440.39. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Daniel R. Needham sold 5,000 shares of the business’s stock in a transaction on Monday, January 30th. The shares were sold at an average price of $168.36, for a total transaction of $841,800.00. Following the sale, the executive vice president now owns 61,137 shares of the company’s stock, valued at $10,293,025.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,575 shares of company stock valued at $2,034,130. 0.46% of the stock is owned by corporate insiders.

About Nucor

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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.