Meridian Wealth Management LLC Sells 89 Shares of Nucor Co. (NYSE:NUE)

Meridian Wealth Management LLC trimmed its position in shares of Nucor Co. (NYSE:NUE) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,755 shares of the basic materials company’s stock after selling 89 shares during the period. Meridian Wealth Management LLC’s holdings in Nucor were worth $322,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in Nucor during the third quarter worth $26,000. Coastline Trust Co acquired a new position in Nucor during the third quarter worth $29,000. Crews Bank & Trust acquired a new position in Nucor during the fourth quarter worth $29,000. New Wave Wealth Advisors LLC acquired a new position in Nucor during the fourth quarter worth $33,000. Finally, Versant Capital Management Inc increased its holdings in Nucor by 60.3% during the fourth quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock worth $35,000 after buying an additional 114 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Trading Up 2.3 %

NUE stock opened at $132.51 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51. The company’s 50-day simple moving average is $127.75 and its 200 day simple moving average is $139.27. Nucor Co. has a 52 week low of $112.25 and a 52 week high of $203.00. The company has a market capitalization of $31.11 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 0.96 and a beta of 1.60.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, beating the consensus estimate of $0.94 by $0.28. Nucor had a net margin of 6.60% and a return on equity of 9.85%. During the same period in the prior year, the firm earned $3.16 EPS. As a group, sell-side analysts anticipate that Nucor Co. will post 7.64 earnings per share for the current year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be paid a $0.55 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.20 annualized dividend and a dividend yield of 1.66%. Nucor’s dividend payout ratio (DPR) is presently 26.16%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Nucor in a report on Monday, December 2nd. They set a “buy” rating and a $190.00 target price on the stock. UBS Group reiterated a “neutral” rating and issued a $156.00 price objective (down from $171.00) on shares of Nucor in a report on Thursday, December 12th. Morgan Stanley decreased their price objective on shares of Nucor from $166.00 to $154.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. StockNews.com upgraded shares of Nucor from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Nucor from $152.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Four 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $163.13.

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.