Premier Path Wealth Partners LLC Sells 301 Shares of Nucor Co. (NYSE:NUE)

Premier Path Wealth Partners LLC lowered its holdings in Nucor Co. (NYSE:NUE) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the 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 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Widmann Financial Services Inc. lifted its holdings in Nucor by 4.0% during the third quarter. Widmann Financial Services Inc. now owns 1,800 shares of the basic materials company’s stock worth $271,000 after buying an additional 70 shares during the period. Brighton Jones LLC raised its position in shares of Nucor by 3.3% in the 2nd quarter. Brighton Jones LLC now owns 2,218 shares of the basic materials company’s stock worth $351,000 after acquiring an additional 71 shares in the last quarter. Salomon & Ludwin LLC lifted its stake in shares of Nucor by 45.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 72 shares during the last quarter. First Trust Direct Indexing L.P. boosted its position in Nucor by 1.4% during the third quarter. First Trust Direct Indexing L.P. now owns 5,467 shares of the basic materials company’s stock valued at $822,000 after purchasing an additional 74 shares in the last quarter. Finally, Mirador Capital Partners LP grew its stake in Nucor by 1.5% in the third quarter. Mirador Capital Partners LP now owns 5,250 shares of the basic materials company’s stock valued at $789,000 after purchasing an additional 77 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on NUE. UBS Group reissued a “neutral” rating and set a $156.00 price target (down from $171.00) on shares of Nucor in a research report on Thursday, December 12th. 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 initiated coverage on Nucor in a research report on Monday, December 2nd. They issued a “buy” rating and a $190.00 target price on the stock. Citigroup dropped their target price on Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, Jefferies Financial Group reduced their price target on shares of Nucor from $150.00 to $125.00 and set a “hold” rating for the company in a research report on Monday, January 6th. Four equities 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 stock. According to data from MarketBeat.com, Nucor presently has an average rating of “Moderate Buy” and a consensus price target of $163.63.

Insider Buying and Selling

In other news, EVP Kenneth Rex Query sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the transaction, the executive vice president now directly owns 98,770 shares of the company’s stock, valued at approximately $14,499,436. This trade represents a 8.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Leon J. Topalian sold 11,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the sale, the chief executive officer now directly 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. In the last three months, insiders have sold 29,680 shares of company stock worth $4,773,724. Insiders own 0.64% of the company’s stock.

Nucor Price Performance

NYSE:NUE opened at $124.40 on Friday. The company has a 50 day moving average price of $133.52 and a 200-day moving average price of $144.57. Nucor Co. has a 1-year low of $112.25 and a 1-year high of $203.00. The firm has a market cap of $29.21 billion, a price-to-earnings 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 (NYSE:NUE) last issued its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.40 by $0.09. The company had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. Nucor’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same period last year, the company earned $4.57 earnings per share. Equities research analysts forecast that Nucor Co. will post 8.19 EPS for the current year.

Nucor Increases Dividend

The business also recently declared 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. This represents a $2.20 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Tuesday, December 31st. This is an increase from Nucor’s previous quarterly dividend of $0.54. Nucor’s dividend payout ratio is 21.26%.

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.