Apollon Wealth Management LLC Purchases 1,859 Shares of Nucor Co. (NYSE:NUE)

Apollon Wealth Management LLC grew its position in shares of Nucor Co. (NYSE:NUE) by 28.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,372 shares of the basic materials company’s stock after buying an additional 1,859 shares during the quarter. Apollon Wealth Management LLC’s holdings in Nucor were worth $1,457,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mackenzie Financial Corp raised its stake in shares of Nucor by 38.6% during the 3rd quarter. Mackenzie Financial Corp now owns 28,115 shares of the basic materials company’s stock worth $4,385,000 after purchasing an additional 7,823 shares during the period. Strs Ohio raised its position in Nucor by 0.9% in the third quarter. Strs Ohio now owns 32,423 shares of the basic materials company’s stock worth $5,069,000 after acquiring an additional 289 shares during the period. Advisor Partners II LLC boosted its stake in Nucor by 14.0% in the third quarter. Advisor Partners II LLC now owns 11,958 shares of the basic materials company’s stock valued at $1,870,000 after acquiring an additional 1,464 shares during the last quarter. Park Avenue Securities LLC purchased a new position in shares of Nucor in the third quarter valued at $1,411,000. Finally, Graypoint LLC raised its stake in shares of Nucor by 5.4% during the 3rd quarter. Graypoint LLC now owns 2,148 shares of the basic materials company’s stock valued at $336,000 after purchasing an additional 111 shares during the period. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Price Performance

NUE opened at $169.81 on Thursday. 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 $40.75 billion, a price-to-earnings ratio of 9.99 and a beta of 1.65. The company has a current ratio of 4.02, a quick ratio of 2.48 and a debt-to-equity ratio of 0.31. The stock has a fifty day simple moving average of $187.87 and a two-hundred day simple moving average of $175.79.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, April 22nd. The basic materials company reported $3.46 EPS for the quarter, missing the consensus estimate of $3.62 by ($0.16). The business had revenue of $8.14 billion for the quarter, compared to the consensus estimate of $8.26 billion. Nucor had a return on equity of 19.62% and a net margin of 12.40%. The company’s revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the firm earned $4.45 EPS. Research analysts predict that Nucor Co. will post 12.55 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.27%. Nucor’s dividend payout ratio is currently 12.71%.

Insiders Place Their Bets

In other news, EVP Allen C. Behr sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total transaction of $1,901,900.00. Following the sale, the executive vice president now owns 80,902 shares of the company’s stock, valued at approximately $15,386,751.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Nucor news, insider Michael D. Keller sold 3,145 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.67, for a total transaction of $609,092.15. Following the completion of the sale, the insider now owns 24,873 shares of the company’s stock, valued at $4,817,153.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Allen C. Behr sold 10,000 shares of Nucor stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total transaction of $1,901,900.00. Following the transaction, the executive vice president now directly owns 80,902 shares in the company, valued at approximately $15,386,751.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,651 shares of company stock valued at $6,283,648. Insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. UBS Group started coverage on shares of Nucor in a report on Tuesday, January 16th. They issued a “buy” rating and a $210.00 price target on the stock. Citigroup raised Nucor from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $180.00 to $240.00 in a research note on Wednesday, March 13th. JPMorgan Chase & Co. cut their price objective on shares of Nucor from $195.00 to $190.00 and set a “neutral” rating for the company in a research note on Wednesday, April 24th. BMO Capital Markets reduced their price target on Nucor from $210.00 to $200.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 24th. Finally, StockNews.com lowered shares of Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $193.14.

About Nucor

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.