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

Larson Financial Group LLC trimmed its stake in Nucor Co. (NYSE:NUE) by 2.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,984 shares of the basic materials company’s stock after selling 75 shares during the quarter. Larson Financial Group LLC’s holdings in Nucor were worth $519,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NUE. Illinois Municipal Retirement Fund increased its stake in Nucor by 3.0% in the 4th quarter. Illinois Municipal Retirement Fund now owns 123,470 shares of the basic materials company’s stock worth $21,489,000 after purchasing an additional 3,577 shares in the last quarter. Wedge Capital Management L L P NC increased its position in shares of Nucor by 24.1% in the fourth quarter. Wedge Capital Management L L P NC now owns 42,365 shares of the basic materials company’s stock worth $7,373,000 after acquiring an additional 8,230 shares in the last quarter. RWA Wealth Partners LLC purchased a new position in shares of Nucor in the fourth quarter worth approximately $227,000. Sage Mountain Advisors LLC acquired a new stake in shares of Nucor during the fourth quarter valued at approximately $208,000. Finally, Ardevora Asset Management LLP purchased a new stake in shares of Nucor in the 4th quarter valued at approximately $5,632,000. 76.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Nucor news, insider Michael D. Keller sold 3,145 shares of Nucor stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total value of $609,092.15. Following the completion of the sale, the insider now directly owns 24,873 shares in the company, valued at $4,817,153.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Nucor news, insider Michael D. Keller sold 3,145 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total transaction of $609,092.15. Following the transaction, the insider now directly owns 24,873 shares of the company’s stock, valued at $4,817,153.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Douglas J. Jellison sold 19,506 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.41, for a total value of $3,772,655.46. Following the completion of the sale, the executive vice president now directly owns 120,738 shares of the company’s stock, valued at approximately $23,351,936.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,151 shares of company stock worth $7,308,683. Insiders own 0.64% of the company’s stock.

Nucor Stock Down 8.9 %

NUE stock opened at $174.64 on Wednesday. The company has a 50 day moving average of $191.20 and a two-hundred day moving average of $174.18. The company has a quick ratio of 2.35, a current ratio of 3.57 and a debt-to-equity ratio of 0.30. Nucor Co. has a 12-month low of $129.79 and a 12-month high of $203.00. The company has a market cap of $41.91 billion, a price-to-earnings ratio of 10.27 and a beta of 1.61.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.62 by ($0.16). Nucor had a return on equity of 19.67% and a net margin of 12.40%. The firm had revenue of $8.14 billion for the quarter, compared to analysts’ expectations of $8.26 billion. During the same quarter in the prior year, the business posted $4.45 earnings per share. Nucor’s revenue was down 6.6% on a year-over-year basis. On average, equities analysts anticipate that Nucor Co. will post 12.93 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Thursday, March 28th will be paid a $0.54 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.24%. Nucor’s payout ratio is 12.71%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Nucor from $180.00 to $195.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Citigroup raised Nucor from a “neutral” rating to a “buy” rating and raised their target price for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. UBS Group began coverage on Nucor in a report on Tuesday, January 16th. They set a “buy” rating and a $210.00 price target on the stock. Finally, StockNews.com downgraded Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Nucor has a consensus rating of “Hold” and a consensus price target 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.