Ritholtz Wealth Management reduced its stake in shares of Nucor Co. (NYSE:NUE – Free Report) by 19.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,585 shares of the basic materials company’s stock after selling 624 shares during the quarter. Ritholtz Wealth Management’s holdings in Nucor were worth $302,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in NUE. Ashton Thomas Securities LLC bought a new position in Nucor during the third quarter valued at about $26,000. Coastline Trust Co acquired a new stake in Nucor in the third quarter worth about $29,000. Brown Lisle Cummings Inc. bought a new stake in Nucor in the third quarter valued at about $30,000. Salomon & Ludwin LLC lifted its holdings 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 in the last quarter. Finally, Carolina Wealth Advisors LLC bought a new stake in Nucor during the 3rd quarter worth approximately $43,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Nucor
In other Nucor news, CFO Stephen D. Laxton sold 4,712 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total transaction of $798,825.36. Following the sale, the chief financial officer now owns 82,132 shares in the company, valued at $13,923,837.96. This represents a 5.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kenneth Rex Query sold 9,000 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the completion of the sale, the executive vice president now directly owns 98,770 shares of the company’s stock, valued at $14,499,436. The trade was a 8.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,680 shares of company stock valued at $4,773,724. 0.64% of the stock is currently owned by insiders.
Nucor Trading Up 0.3 %
Nucor (NYSE:NUE – Get Free Report) 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. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The firm had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.28 billion. During the same quarter in the prior year, the business earned $4.57 earnings per share. The company’s revenue was down 15.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Nucor Co. will post 8.13 EPS for the current fiscal year.
Nucor Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Tuesday, December 31st will be issued a $0.55 dividend. This is an increase from Nucor’s previous quarterly dividend of $0.54. The ex-dividend date is Tuesday, December 31st. This represents a $2.20 dividend on an annualized basis and a yield of 1.76%. Nucor’s dividend payout ratio is presently 21.26%.
Wall Street Analysts Forecast Growth
NUE has been the topic of several research reports. Jefferies Financial Group cut their target price on Nucor from $150.00 to $125.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. 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 price objective on the stock. JPMorgan Chase & Co. dropped their price target on shares of Nucor from $168.00 to $152.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Citigroup dropped their price objective on shares of Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, Morgan Stanley decreased their target price on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $163.63.
Get Our Latest Analysis on NUE
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.
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