United Asset Strategies Inc. Purchases 240 Shares of Nucor Co. (NYSE:NUE)

United Asset Strategies Inc. increased its holdings in shares of Nucor Co. (NYSE:NUE) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,596 shares of the basic materials company’s stock after acquiring an additional 240 shares during the period. United Asset Strategies Inc.’s holdings in Nucor were worth $1,120,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mizuho Securities USA LLC grew its holdings in shares of Nucor by 8,530.1% during the third quarter. Mizuho Securities USA LLC now owns 1,595,179 shares of the basic materials company’s stock worth $239,819,000 after purchasing an additional 1,576,695 shares during the last quarter. Pacer Advisors Inc. lifted its position in Nucor by 19.8% during the 3rd quarter. Pacer Advisors Inc. now owns 3,456,484 shares of the basic materials company’s stock worth $519,648,000 after buying an additional 571,682 shares in the last quarter. Ceredex Value Advisors LLC acquired a new stake in Nucor in the 3rd quarter valued at about $74,829,000. Nordea Investment Management AB raised its stake in shares of Nucor by 25.6% in the fourth quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company’s stock worth $205,282,000 after acquiring an additional 358,721 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Nucor by 2.9% during the third quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock worth $1,724,117,000 after purchasing an additional 326,181 shares in the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Nucor

In related news, EVP Allen C. Behr sold 4,968 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $159.72, for a total transaction of $793,488.96. Following the completion of the sale, the executive vice president now directly owns 85,376 shares of the company’s stock, valued at approximately $13,636,254.72. This represents a 5.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kenneth Rex Query sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the sale, the executive vice president now owns 98,770 shares in the company, valued at $14,499,436. This trade represents a 8.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,680 shares of company stock valued at $4,773,724. Corporate insiders own 0.46% of the company’s stock.

Nucor Price Performance

Nucor stock opened at $122.19 on Monday. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $28.69 billion, a P/E ratio of 11.81 and a beta of 1.60. The business has a 50-day moving average of $130.66 and a 200-day moving average of $143.41. Nucor Co. has a 1 year low of $112.25 and a 1 year high of $203.00.

Nucor Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.55 per share. The ex-dividend date is Tuesday, December 31st. This represents a $2.20 dividend on an annualized basis and a yield of 1.80%. This is a boost from Nucor’s previous quarterly dividend of $0.54. Nucor’s payout ratio is currently 21.26%.

Wall Street Analyst Weigh In

NUE has been the subject of a number of research reports. Jefferies Financial Group lowered their price target on shares of Nucor from $150.00 to $125.00 and set a “hold” rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. lowered their target price on Nucor from $168.00 to $152.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Citigroup cut their price target on Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. UBS Group reiterated a “neutral” rating and issued a $156.00 price objective (down from $171.00) on shares of Nucor in a research report on Thursday, December 12th. Finally, The Goldman Sachs Group initiated coverage on shares of Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 target price on the stock. Four 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. According to data from MarketBeat.com, Nucor presently has a consensus rating of “Moderate Buy” and a consensus price target 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.