Planned Solutions Inc. Sells 85 Shares of Nucor Co. (NYSE:NUE)

Planned Solutions Inc. cut its holdings in Nucor Co. (NYSE:NUE) by 4.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,059 shares of the basic materials company’s stock after selling 85 shares during the quarter. Planned Solutions Inc.’s holdings in Nucor were worth $240,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in shares of Nucor during the third quarter valued at approximately $26,000. Coastline Trust Co purchased a new stake in Nucor during the third quarter worth $29,000. Brown Lisle Cummings Inc. bought a new stake in Nucor during the 3rd quarter valued at $30,000. Salomon & Ludwin LLC increased its holdings in shares of Nucor by 45.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 72 shares during the period. Finally, Versant Capital Management Inc raised its position in shares of Nucor by 60.3% in the 4th quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 114 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors.

Nucor Stock Performance

Shares of NUE stock opened at $124.95 on Wednesday. The business has a fifty day moving average of $132.82 and a 200 day moving average of $144.17. Nucor Co. has a 1 year low of $112.25 and a 1 year high of $203.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61. The firm has a market capitalization of $29.34 billion, a price-to-earnings ratio of 12.07 and a beta of 1.60.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.09. The firm had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The company’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same period last year, the business posted $4.57 earnings per share. As a group, research analysts expect that Nucor Co. will post 8.13 earnings per share for the current 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 paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.76%. This is a boost from Nucor’s previous quarterly dividend of $0.54. The ex-dividend date is Tuesday, December 31st. Nucor’s payout ratio is presently 21.26%.

Insider Activity

In other news, EVP Kenneth Rex Query sold 9,000 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total value of $1,321,200.00. Following the completion of the transaction, the executive vice president now owns 98,770 shares of the company’s stock, valued at $14,499,436. The trade was a 8.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Leon J. Topalian sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total value of $1,860,210.00. Following the sale, the chief executive officer now directly owns 172,136 shares in the company, valued at approximately $29,109,918.96. This trade represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,680 shares of company stock valued at $4,773,724 in the last ninety days. Insiders own 0.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NUE. Morgan Stanley dropped their price objective on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their price target on shares of Nucor from $168.00 to $152.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Jefferies Financial Group reduced their price objective on shares of Nucor from $150.00 to $125.00 and set a “hold” rating for the company in a research note on Monday, January 6th. UBS Group reaffirmed a “neutral” rating and issued a $156.00 price target (down from $171.00) on shares of Nucor in a report on Thursday, December 12th. Finally, The Goldman Sachs Group assumed coverage on Nucor in a report on Monday, December 2nd. They set a “buy” rating and a $190.00 price objective for the company. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.63.

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.