Nucor Co. (NYSE:NUE) Shares Sold by Strid Group LLC

Strid Group LLC cut its stake in shares of Nucor Co. (NYSE:NUE) by 0.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,566 shares of the basic materials company’s stock after selling 64 shares during the quarter. Nucor makes up 2.2% of Strid Group LLC’s portfolio, making the stock its 8th largest holding. Strid Group LLC’s holdings in Nucor were worth $10,715,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Daiwa Securities Group Inc. grew its position in shares of Nucor by 5.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 45,038 shares of the basic materials company’s stock worth $7,838,000 after acquiring an additional 2,434 shares during the last quarter. Tyche Wealth Partners LLC bought a new position in Nucor in the 4th quarter worth about $384,000. SVB Wealth LLC increased its stake in shares of Nucor by 1.5% in the fourth quarter. SVB Wealth LLC now owns 3,656 shares of the basic materials company’s stock valued at $636,000 after purchasing an additional 54 shares during the period. Waldron Private Wealth LLC raised its holdings in shares of Nucor by 2.5% during the fourth quarter. Waldron Private Wealth LLC now owns 3,018 shares of the basic materials company’s stock valued at $525,000 after buying an additional 73 shares during the last quarter. Finally, Strs Ohio boosted its position in shares of Nucor by 211.8% during the fourth quarter. Strs Ohio now owns 101,091 shares of the basic materials company’s stock worth $17,593,000 after buying an additional 68,668 shares during the period. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Douglas J. Jellison sold 19,506 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the completion of the sale, the executive vice president now owns 120,738 shares in the company, valued at approximately $23,351,936.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Kenneth Rex Query sold 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $186.37, for a total value of $1,025,035.00. Following the completion of the transaction, the executive vice president now owns 85,326 shares of the company’s stock, valued at approximately $15,902,206.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Douglas J. Jellison sold 19,506 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the sale, the executive vice president now directly owns 120,738 shares in the company, valued at $23,351,936.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,151 shares of company stock worth $7,308,683. 0.46% of the stock is owned by insiders.

Nucor Price Performance

Shares of NUE traded down $0.87 during midday trading on Thursday, reaching $191.91. The stock had a trading volume of 217,890 shares, compared to its average volume of 1,364,117. The firm’s 50 day moving average price is $191.00 and its 200-day moving average price is $173.20. Nucor Co. has a 52 week low of $129.79 and a 52 week high of $203.00. The company has a market capitalization of $46.05 billion, a P/E ratio of 10.72 and a beta of 1.61. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.57 and a quick ratio of 2.35.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, January 29th. The basic materials company reported $3.16 EPS for the quarter, topping the consensus estimate of $2.83 by $0.33. Nucor had a net margin of 13.03% and a return on equity of 21.42%. The firm had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.64 billion. During the same period in the previous year, the business earned $4.89 earnings per share. Nucor’s revenue for the quarter was down 11.7% compared to the same quarter last year. On average, analysts forecast that Nucor Co. will post 13 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Thursday, March 28th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Wednesday, March 27th. Nucor’s payout ratio is 12.01%.

Wall Street Analyst Weigh In

Several analysts recently commented on NUE shares. StockNews.com upgraded Nucor from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th. Citigroup raised Nucor from a “neutral” rating to a “buy” rating and raised their price target for the company from $180.00 to $240.00 in a report on Wednesday, March 13th. UBS Group assumed coverage on shares of Nucor in a research note on Tuesday, January 16th. They set a “buy” rating and a $210.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their target price on shares of Nucor from $180.00 to $195.00 and gave the company a “neutral” rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $192.83.

Nucor Company 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.