Strid Group LLC Trims Stock Position in Nucor Co. (NYSE:NUE)

Strid Group LLC trimmed its holdings in shares of Nucor Co. (NYSE:NUE) by 0.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 61,566 shares of the basic materials company’s stock after selling 64 shares during the quarter. Nucor accounts for 2.2% of Strid Group LLC’s portfolio, making the stock its 8th biggest position. Strid Group LLC’s holdings in Nucor were worth $10,715,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Moneta Group Investment Advisors LLC increased its stake in shares of Nucor by 127,059.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 155,232,061 shares of the basic materials company’s stock valued at $20,461,138,000 after acquiring an additional 155,109,984 shares during the last quarter. Morgan Stanley grew its holdings in Nucor by 30.0% during the fourth quarter. Morgan Stanley now owns 4,247,626 shares of the basic materials company’s stock valued at $559,880,000 after purchasing an additional 979,824 shares during the period. Norges Bank bought a new stake in Nucor in the fourth quarter valued at approximately $111,725,000. International Assets Investment Management LLC acquired a new stake in Nucor in the fourth quarter worth $108,747,000. Finally, Imprint Wealth LLC boosted its position in shares of Nucor by 21,987.3% during the second quarter. Imprint Wealth LLC now owns 528,992 shares of the basic materials company’s stock worth $52,899,000 after purchasing an additional 526,597 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Nucor Stock Down 0.5 %

NUE stock traded down $0.87 during trading hours on Thursday, reaching $191.91. 217,890 shares of the stock were exchanged, compared to its average volume of 1,364,117. The firm’s 50-day moving average is $191.00 and its 200-day moving average is $173.20. 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 $46.05 billion, a price-to-earnings 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 posted its quarterly earnings data on Monday, January 29th. The basic materials company reported $3.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.33. Nucor had a return on equity of 21.42% and a net margin of 13.03%. The business had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.64 billion. During the same period last year, the company earned $4.89 earnings per share. Nucor’s quarterly revenue was down 11.7% on a year-over-year basis. On average, equities research analysts expect that Nucor Co. will post 13 earnings per share for the current year.

Nucor Announces Dividend

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

Insider Transactions at Nucor

In related news, insider Michael D. Keller sold 3,145 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 24,873 shares of the company’s stock, valued at $4,817,153.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Nucor news, EVP Douglas J. Jellison sold 19,506 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 120,738 shares in the company, valued at $23,351,936.58. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael D. Keller sold 3,145 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the transaction, the insider now directly owns 24,873 shares in the company, valued at approximately $4,817,153.91. The disclosure for this sale can be found here. Insiders have sold a total of 38,151 shares of company stock valued at $7,308,683 over the last 90 days. 0.46% of the stock is owned by corporate insiders.

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.