Nucor Co. (NYSE:NUE) Shares Sold by WealthPLAN Partners LLC

WealthPLAN Partners LLC trimmed its holdings in Nucor Co. (NYSE:NUE) by 3.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 36,615 shares of the basic materials company’s stock after selling 1,226 shares during the period. WealthPLAN Partners LLC’s holdings in Nucor were worth $5,788,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its position in shares of Nucor by 6.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the basic materials company’s stock worth $151,000 after buying an additional 54 shares during the period. Fortitude Family Office LLC raised its holdings in shares of Nucor by 54.1% in the 1st quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 59 shares during the period. GPS Wealth Strategies Group LLC lifted its stake in shares of Nucor by 4.1% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,630 shares of the basic materials company’s stock valued at $258,000 after purchasing an additional 64 shares in the last quarter. Chilton Capital Management LLC grew its holdings in shares of Nucor by 94.2% during the 1st quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 65 shares during the period. Finally, Integrated Advisors Network LLC increased its position in Nucor by 3.4% during the 4th quarter. Integrated Advisors Network LLC now owns 2,141 shares of the basic materials company’s stock worth $373,000 after purchasing an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Buying and Selling

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the transaction, the executive vice president now owns 99,049 shares of the company’s stock, valued at approximately $15,847,840. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NUE shares. Bank of America reduced their price target on shares of Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Argus raised shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Jefferies Financial Group started coverage on Nucor in a report on Monday, May 20th. They issued a “hold” rating and a $190.00 price target for the company. JPMorgan Chase & Co. raised Nucor from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $170.00 to $174.00 in a research report on Monday, September 9th. Finally, Morgan Stanley upgraded Nucor from an “equal weight” rating to an “overweight” rating and dropped their target price for the company from $187.00 to $176.00 in a report on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $195.00.

Nucor Trading Down 0.5 %

NYSE:NUE opened at $142.92 on Tuesday. The stock has a market cap of $34.27 billion, a price-to-earnings ratio of 8.41 and a beta of 1.55. Nucor Co. has a one year low of $133.42 and a one year high of $203.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.85 and a current ratio of 2.93. The business’s 50-day simple moving average is $150.52 and its 200 day simple moving average is $167.06.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.37. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The business had revenue of $8.08 billion during the quarter, compared to analyst estimates of $7.69 billion. During the same quarter in the previous year, the firm earned $5.81 earnings per share. The business’s revenue was down 15.2% compared to the same quarter last year. As a group, sell-side analysts predict that Nucor Co. will post 9.95 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, November 8th. Investors of record on Friday, September 27th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.51%. Nucor’s dividend payout ratio (DPR) is 12.71%.

Nucor 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.