Red Door Wealth Management LLC Buys 150 Shares of Nucor Co. (NYSE:NUE)

Red Door Wealth Management LLC lifted its stake in shares of Nucor Co. (NYSE:NUE) by 3.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,192 shares of the basic materials company’s stock after purchasing an additional 150 shares during the quarter. Red Door Wealth Management LLC’s holdings in Nucor were worth $489,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in NUE. Renaissance Technologies LLC grew its position in Nucor by 4.3% in the 2nd quarter. Renaissance Technologies LLC now owns 9,700 shares of the basic materials company’s stock valued at $1,533,000 after purchasing an additional 400 shares during the period. Sei Investments Co. boosted its holdings in shares of Nucor by 91.4% in the 2nd quarter. Sei Investments Co. now owns 55,770 shares of the basic materials company’s stock worth $8,816,000 after buying an additional 26,638 shares during the last quarter. 1832 Asset Management L.P. increased its holdings in Nucor by 31.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 15,524 shares of the basic materials company’s stock worth $2,454,000 after acquiring an additional 3,680 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in Nucor by 64.7% during the 2nd quarter. Public Sector Pension Investment Board now owns 9,100 shares of the basic materials company’s stock valued at $1,439,000 after buying an additional 3,574 shares in the last quarter. Finally, Evergreen Capital Management LLC raised its position in shares of Nucor by 3.5% in the second quarter. Evergreen Capital Management LLC now owns 4,498 shares of the basic materials company’s stock worth $713,000 after buying an additional 154 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Analysts Set New Price Targets

NUE has been the topic of a number of analyst reports. Citigroup decreased their target price on shares of Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. UBS Group reissued a “neutral” rating and issued a $156.00 target price (down previously from $171.00) on shares of Nucor in a research report on Thursday, December 12th. JPMorgan Chase & Co. dropped their target price on Nucor from $168.00 to $152.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Jefferies Financial Group cut their price target on Nucor from $150.00 to $125.00 and set a “hold” rating for the company in a report on Monday, January 6th. Finally, The Goldman Sachs Group started coverage on Nucor in a research note on Monday, December 2nd. They issued a “buy” rating and a $190.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.63.

Nucor Trading Up 0.0 %

Shares of NYSE:NUE opened at $122.10 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. The business has a 50-day moving average price of $131.64 and a 200-day moving average price of $143.82. Nucor Co. has a 52-week low of $112.25 and a 52-week high of $203.00. The stock has a market cap of $28.67 billion, a price-to-earnings ratio of 11.80 and a beta of 1.60.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.09. The firm had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. Nucor’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.57 EPS. Equities analysts predict that Nucor Co. will post 8.13 EPS for the current year.

Nucor Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders 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. This represents a $2.20 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend is Tuesday, December 31st. Nucor’s dividend payout ratio (DPR) is currently 21.26%.

Insider Activity

In other news, CFO Stephen D. Laxton sold 4,712 shares of Nucor 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 sale, the chief financial officer now directly owns 82,132 shares of the company’s stock, valued at approximately $13,923,837.96. The trade was a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Leon J. Topalian sold 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the completion of the transaction, the chief executive officer now directly owns 172,136 shares of the company’s stock, valued at $29,109,918.96. This represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,680 shares of company stock worth $4,773,724 over the last ninety days. Corporate insiders own 0.46% of the company’s stock.

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.