WealthPLAN Partners LLC Sells 7,616 Shares of Nucor Corporation $NUE

WealthPLAN Partners LLC trimmed its position in Nucor Corporation (NYSE:NUE) by 37.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,542 shares of the basic materials company’s stock after selling 7,616 shares during the quarter. WealthPLAN Partners LLC’s holdings in Nucor were worth $2,121,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Strive Financial Group LLC acquired a new stake in shares of Nucor during the 4th quarter worth approximately $27,000. Stance Capital LLC acquired a new position in Nucor in the third quarter valued at approximately $25,000. Mcguire Capital Advisors Inc. bought a new position in Nucor in the fourth quarter valued at approximately $32,000. Motiv8 Investments LLC bought a new position in Nucor in the fourth quarter valued at approximately $32,000. Finally, Reflection Asset Management acquired a new stake in Nucor during the 4th quarter worth $36,000. 76.48% of the stock is owned by institutional investors.

Nucor Trading Up 1.6%

Shares of NYSE NUE opened at $227.53 on Wednesday. Nucor Corporation has a twelve month low of $131.32 and a twelve month high of $270.90. The stock has a market cap of $51.82 billion, a price-to-earnings ratio of 22.53, a P/E/G ratio of 0.51 and a beta of 1.91. The company has a quick ratio of 1.55, a current ratio of 2.90 and a debt-to-equity ratio of 0.30. The company’s fifty day moving average is $238.32 and its 200-day moving average is $198.04.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.41. The business had revenue of $9.50 billion during the quarter, compared to analysts’ expectations of $8.88 billion. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The firm’s quarterly revenue was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 EPS. Equities research analysts predict that Nucor Corporation will post 17.68 EPS for the current year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, June 30th. Nucor’s dividend payout ratio is 22.18%.

Insider Activity at Nucor

In related news, insider Michael D. Keller sold 4,554 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $225.86, for a total value of $1,028,566.44. Following the completion of the transaction, the insider directly owned 16,834 shares in the company, valued at approximately $3,802,127.24. The trade was a 21.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Allen C. Behr sold 10,096 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $226.08, for a total value of $2,282,503.68. Following the sale, the executive vice president directly owned 62,871 shares of the company’s stock, valued at approximately $14,213,875.68. The trade was a 13.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 82,378 shares of company stock valued at $18,963,930 over the last 90 days. Insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on NUE. The Goldman Sachs Group upped their target price on shares of Nucor from $260.00 to $284.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Jefferies Financial Group lifted their price objective on Nucor from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Wall Street Zen upgraded Nucor from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. BNP Paribas Exane increased their target price on Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Finally, JPMorgan Chase & Co. raised their target price on Nucor from $240.00 to $282.00 and gave the stock an “overweight” rating in a report on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Nucor currently has an average rating of “Moderate Buy” and an average target price of $266.92.

Nucor Company Profile

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.