Custom Index Systems LLC Lowers Stock Holdings in Nucor Co. (NYSE:NUE)

Custom Index Systems LLC lowered its stake in Nucor Co. (NYSE:NUE) by 9.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,909 shares of the basic materials company’s stock after selling 401 shares during the period. Custom Index Systems LLC’s holdings in Nucor were worth $456,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NUE. Ashton Thomas Securities LLC acquired a new position in Nucor in the 3rd quarter valued at $26,000. Coastline Trust Co acquired a new position in shares of Nucor during the third quarter worth about $29,000. Crews Bank & Trust purchased a new position in Nucor during the fourth quarter worth about $29,000. Brown Lisle Cummings Inc. acquired a new stake in Nucor in the third quarter valued at about $30,000. Finally, New Wave Wealth Advisors LLC purchased a new stake in Nucor in the 4th quarter valued at approximately $33,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Buying and Selling at Nucor

In related news, CFO Stephen D. Laxton sold 4,712 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total value of $798,825.36. Following the completion of the transaction, the chief financial officer now directly owns 82,132 shares in the company, valued at approximately $13,923,837.96. This represents a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Allen C. Behr sold 4,968 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $159.72, for a total value of $793,488.96. Following the transaction, the executive vice president now owns 85,376 shares in the company, valued at $13,636,254.72. This trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,680 shares of company stock worth $3,452,524. Corporate insiders own 0.46% of the company’s stock.

Nucor Stock Down 0.2 %

Shares of NYSE NUE opened at $128.39 on Friday. The firm’s 50-day moving average is $128.94 and its two-hundred day moving average is $142.62. The company has a market capitalization of $30.15 billion, a PE ratio of 15.27 and a beta of 1.60. Nucor Co. has a 12-month low of $112.25 and a 12-month high of $203.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.61.

Nucor (NYSE:NUE) last posted its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.28. Nucor had a return on equity of 9.85% and a net margin of 6.60%. During the same period last year, the company posted $3.16 EPS. Equities analysts anticipate that Nucor Co. will post 7.76 EPS for the current fiscal year.

Nucor Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Tuesday, December 31st will be paid a $0.55 dividend. This is an increase from Nucor’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.20 annualized dividend and a yield of 1.71%. Nucor’s payout ratio is presently 26.16%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NUE. JPMorgan Chase & Co. cut their target price on Nucor from $152.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday. Jefferies Financial Group raised their target price on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a report on Wednesday. UBS Group reaffirmed a “neutral” rating and set a $156.00 price target (down from $171.00) on shares of Nucor in a research note on Thursday, December 12th. The Goldman Sachs Group assumed coverage on shares of Nucor in a research note on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective for the company. Finally, Morgan Stanley lowered their target price on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $164.63.

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.