Red Door Wealth Management LLC Buys 150 Shares of Nucor Co. (NYSE:NUE)

Red Door Wealth Management LLC boosted its stake in shares of Nucor Co. (NYSE:NUE) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,192 shares of the basic materials company’s stock after acquiring an additional 150 shares during the quarter. Red Door Wealth Management LLC’s holdings in Nucor were worth $489,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NUE. Avior Wealth Management LLC lifted its holdings in 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 purchasing an additional 193 shares during the last quarter. Hudson Capital Management LLC increased its holdings in shares of Nucor by 9.2% during the fourth quarter. Hudson Capital Management LLC now owns 29,810 shares of the basic materials company’s stock worth $3,479,000 after buying an additional 2,523 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Nucor by 274.7% in 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 acquiring an additional 129,938 shares during the last quarter. Capstone Wealth Management LLC acquired a new position in shares of Nucor in the 4th quarter worth approximately $216,000. Finally, Mitsubishi UFJ Asset Management UK Ltd. grew its position in Nucor by 300.0% during 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 acquiring an additional 3,000 shares during the last quarter. 76.48% of the stock is owned by institutional investors.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Allen C. Behr sold 4,968 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 85,376 shares in the company, valued at approximately $13,636,254.72. This trade represents a 5.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kenneth Rex Query sold 9,000 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the sale, the executive vice president now 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 disclosure for this sale can be found here. Insiders have sold 29,680 shares of company stock worth $4,773,724 over the last quarter. Corporate insiders own 0.46% of the company’s stock.

Nucor Stock Up 0.0 %

Shares of NYSE NUE opened at $122.10 on Friday. The stock’s fifty day moving average is $131.64 and its 200 day moving average is $143.82. Nucor Co. has a 52 week low of $112.25 and a 52 week high of $203.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59. The stock has a market capitalization of $28.67 billion, a P/E ratio of 11.80 and a beta of 1.60.

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

Nucor Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Tuesday, December 31st will be paid a $0.55 dividend. This is an increase from Nucor’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.20 annualized dividend and a yield of 1.80%. Nucor’s dividend payout ratio is presently 21.26%.

Analyst Ratings Changes

NUE has been the subject of several research analyst reports. JPMorgan Chase & Co. cut their price objective on Nucor from $168.00 to $152.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. UBS Group reiterated a “neutral” rating and set a $156.00 price target (down previously from $171.00) on shares of Nucor in a research report on Thursday, December 12th. The Goldman Sachs Group began coverage on shares of Nucor in a research note on Monday, December 2nd. They set a “buy” rating and a $190.00 price target on the stock. Morgan Stanley dropped their price objective on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group dropped their price target on shares of Nucor from $150.00 to $125.00 and set a “hold” rating for the company in a research note on Monday, January 6th. Four investment 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $163.63.

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.