Premier Path Wealth Partners LLC Lowers Stock Position in Nucor Co. (NYSE:NUE)

Premier Path Wealth Partners LLC trimmed its holdings in Nucor Co. (NYSE:NUE) by 3.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,015 shares of the basic materials company’s stock after selling 301 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Nucor were worth $1,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. BTS Asset Management Inc. bought a new position in shares of Nucor during the fourth quarter valued at approximately $255,000. Trinity Street Asset Management LLP grew its stake in shares of Nucor by 6.6% in the 4th quarter. Trinity Street Asset Management LLP now owns 168,425 shares of the basic materials company’s stock worth $19,657,000 after buying an additional 10,390 shares during the last quarter. Butensky & Cohen Financial Security Inc. increased its position in Nucor by 5.4% during the 4th quarter. Butensky & Cohen Financial Security Inc. now owns 26,875 shares of the basic materials company’s stock valued at $3,137,000 after buying an additional 1,374 shares in the last quarter. Mirador Capital Partners LP grew its stake in shares of Nucor by 8.4% in the fourth quarter. Mirador Capital Partners LP now owns 5,689 shares of the basic materials company’s stock worth $664,000 after acquiring an additional 439 shares during the last quarter. Finally, Advisors Management Group Inc. ADV boosted its stake in Nucor by 94.9% in the 4th quarter. Advisors Management Group Inc. ADV now owns 3,657 shares of the basic materials company’s stock worth $427,000 after purchasing an additional 1,781 shares in the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Stock Performance

Shares of NUE opened at $124.40 on Friday. The firm has a market capitalization of $29.21 billion, a P/E ratio of 12.02 and a beta of 1.60. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61. Nucor Co. has a one year low of $112.25 and a one year high of $203.00. The business has a fifty day moving average of $133.52 and a 200 day moving average of $144.57.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.09. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. During the same period in the previous year, the company posted $4.57 EPS. The business’s quarterly revenue was down 15.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Nucor Co. will post 8.19 EPS for the current year.

Nucor Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Tuesday, December 31st will be given a dividend of $0.55 per share. The ex-dividend date is Tuesday, December 31st. This is an increase from Nucor’s previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a yield of 1.77%. Nucor’s payout ratio is 21.26%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NUE. The Goldman Sachs Group assumed coverage on shares of Nucor in a research note on Monday, December 2nd. They set a “buy” rating and a $190.00 price objective for the company. Jefferies Financial Group decreased their price objective 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. cut their target price on Nucor from $168.00 to $152.00 and set an “overweight” rating on the stock in a research note on Friday. UBS Group restated a “neutral” rating and issued a $156.00 price target (down previously from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Finally, Morgan Stanley dropped their price objective on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Four investment 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 MarketBeat, Nucor has an average rating of “Moderate Buy” and an average price target of $163.63.

Insiders Place Their Bets

In other 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 transaction, the executive vice president now directly owns 85,376 shares in the company, valued at approximately $13,636,254.72. This represents a 5.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Leon J. Topalian sold 11,000 shares of Nucor stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total value of $1,860,210.00. Following the completion of the transaction, the chief executive officer now owns 172,136 shares of the company’s stock, valued at approximately $29,109,918.96. This represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,680 shares of company stock worth $4,773,724 over the last three months. 0.64% of the stock is currently owned by company insiders.

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.