Inspire Investing LLC Reduces Stake in Nucor Co. (NYSE:NUE)

Inspire Investing LLC decreased its holdings in shares of Nucor Co. (NYSE:NUE) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,243 shares of the basic materials company’s stock after selling 317 shares during the period. Inspire Investing LLC’s holdings in Nucor were worth $2,713,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Avior Wealth Management LLC raised its position in shares of Nucor by 12.1% during the 4th quarter. Avior Wealth Management LLC now owns 1,785 shares of the basic materials company’s stock valued at $208,000 after buying an additional 193 shares in the last quarter. Hudson Capital Management LLC increased its stake in Nucor by 9.2% in the fourth quarter. Hudson Capital Management LLC now owns 29,810 shares of the basic materials company’s stock valued at $3,479,000 after acquiring an additional 2,523 shares during the last quarter. SG Americas Securities LLC raised its position in Nucor by 274.7% during the fourth quarter. SG Americas Securities LLC now owns 177,232 shares of the basic materials company’s stock valued at $20,685,000 after purchasing an additional 129,938 shares in the last quarter. Capstone Wealth Management LLC bought a new stake in Nucor during the fourth quarter worth about $216,000. Finally, Mitsubishi UFJ Asset Management UK Ltd. boosted its holdings in shares of Nucor by 300.0% in the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 4,000 shares of the basic materials company’s stock worth $467,000 after purchasing an additional 3,000 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Price Performance

NUE stock opened at $121.95 on Thursday. The firm has a 50-day moving average of $131.64 and a 200 day moving average of $143.82. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61. The company has a market cap of $28.63 billion, a P/E ratio of 11.78 and a beta of 1.60. Nucor Co. has a 1 year low of $112.25 and a 1 year high of $203.00.

Nucor (NYSE:NUE) last announced its earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.09. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The firm had revenue of $7.44 billion for the quarter, compared to analysts’ expectations of $7.28 billion. During the same quarter in the previous year, the business posted $4.57 EPS. The company’s quarterly revenue was down 15.2% on a year-over-year basis. On average, sell-side analysts forecast that Nucor Co. will post 8.13 EPS for the current year.

Nucor Increases Dividend

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

Insider Transactions at Nucor

In other Nucor news, CFO Stephen D. Laxton sold 4,712 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total transaction of $798,825.36. Following the completion of the sale, the chief financial officer now directly owns 82,132 shares of the company’s stock, valued at $13,923,837.96. This trade represents a 5.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Allen C. Behr sold 4,968 shares of Nucor stock in a transaction on Monday, November 11th. The shares were 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 owns 85,376 shares in the company, valued at approximately $13,636,254.72. This represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,680 shares of company stock worth $4,773,724 in the last ninety days. Insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on NUE. Jefferies Financial Group decreased their price objective on Nucor from $150.00 to $125.00 and set a “hold” rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. dropped their target price on Nucor from $168.00 to $152.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Morgan Stanley lowered their price objective on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. The Goldman Sachs Group assumed coverage on shares of Nucor in a report on Monday, December 2nd. They issued a “buy” rating and a $190.00 target price on the stock. Finally, UBS Group reiterated a “neutral” rating and set a $156.00 price target (down from $171.00) on shares of Nucor in a report on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $163.63.

Nucor 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.