BIP Wealth LLC Sells 1,000 Shares of Nucor Co. (NYSE:NUE)

BIP Wealth LLC lowered its position in shares of Nucor Co. (NYSE:NUE) by 18.2% in the fourth quarter, HoldingsChannel reports. The fund owned 4,502 shares of the basic materials company’s stock after selling 1,000 shares during the period. BIP Wealth LLC’s holdings in Nucor were worth $784,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Summit Global Investments acquired a new position in shares of Nucor during the third quarter worth about $235,000. 1900 Wealth Management LLC acquired a new position in shares of Nucor in the third quarter valued at approximately $212,000. Avior Wealth Management LLC grew its position in shares of Nucor by 310.9% in the third quarter. Avior Wealth Management LLC now owns 1,360 shares of the basic materials company’s stock valued at $213,000 after purchasing an additional 1,029 shares during the last quarter. Mach 1 Financial Group LLC acquired a new position in shares of Nucor in the third quarter valued at approximately $212,000. Finally, Newbridge Financial Services Group Inc. grew its position in shares of Nucor by 56.3% in the third quarter. Newbridge Financial Services Group Inc. now owns 955 shares of the basic materials company’s stock valued at $149,000 after purchasing an additional 344 shares during the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Nucor

In other news, EVP Kenneth Rex Query sold 5,500 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $186.37, for a total value of $1,025,035.00. Following the completion of the transaction, the executive vice president now directly owns 85,326 shares in the company, valued at approximately $15,902,206.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Douglas J. Jellison sold 19,506 shares of the stock in a transaction 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 approximately $23,351,936.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kenneth Rex Query sold 5,500 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $186.37, for a total value of $1,025,035.00. Following the completion of the transaction, the executive vice president now owns 85,326 shares of the company’s stock, valued at $15,902,206.62. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,151 shares of company stock valued at $7,308,683. 0.64% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on NUE shares. BMO Capital Markets decreased their target price on Nucor from $210.00 to $200.00 and set a “market perform” rating on the stock in a research report on Wednesday. UBS Group began coverage on Nucor in a research report on Tuesday, January 16th. They set a “buy” rating and a $210.00 price target on the stock. JPMorgan Chase & Co. reduced their price target on Nucor from $195.00 to $190.00 and set a “neutral” rating on the stock in a research report on Wednesday. Citigroup raised Nucor from a “neutral” rating to a “buy” rating and increased their price target for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. Finally, StockNews.com downgraded Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $193.14.

Nucor Price Performance

Shares of NUE stock traded down $1.88 during trading hours on Wednesday, reaching $172.76. The company’s stock had a trading volume of 2,586,233 shares, compared to its average volume of 1,441,052. The firm’s 50 day simple moving average is $191.04 and its 200-day simple moving average is $174.17. The company has a market capitalization of $41.46 billion, a price-to-earnings ratio of 10.16 and a beta of 1.61. Nucor Co. has a fifty-two week low of $129.79 and a fifty-two week high of $203.00. The company has a quick ratio of 2.35, a current ratio of 3.57 and a debt-to-equity ratio of 0.30.

Nucor (NYSE:NUE) last issued its earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). The business had revenue of $8.14 billion during the quarter, compared to analyst estimates of $8.26 billion. Nucor had a net margin of 12.40% and a return on equity of 19.67%. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the prior year, the business posted $4.45 EPS. Sell-side analysts forecast that Nucor Co. will post 12.93 earnings per share for the current year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, March 28th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Wednesday, March 27th. Nucor’s dividend payout ratio is presently 12.71%.

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.