Asset Dedication LLC Has $122,000 Stake in Nucor Co. (NYSE:NUE)

Asset Dedication LLC lessened its holdings in Nucor Co. (NYSE:NUEFree Report) by 85.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,045 shares of the basic materials company’s stock after selling 6,384 shares during the period. Asset Dedication LLC’s holdings in Nucor were worth $122,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Ashton Thomas Securities LLC bought a new position in shares of Nucor in the third quarter valued at $26,000. Coastline Trust Co bought a new stake in shares of Nucor during the third quarter worth approximately $29,000. Brown Lisle Cummings Inc. bought a new stake in Nucor in the 3rd quarter valued at $30,000. Salomon & Ludwin LLC grew its stake in shares of Nucor by 45.6% in the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 72 shares in the last quarter. Finally, Carolina Wealth Advisors LLC acquired a new position in shares of Nucor during the 3rd quarter worth approximately $43,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NUE has been the topic of a number of recent analyst reports. Jefferies Financial Group raised their price target on Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research report on Wednesday. The Goldman Sachs Group started coverage on Nucor in a report on Monday, December 2nd. They set a “buy” rating and a $190.00 price objective on the stock. Morgan Stanley decreased their price target on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. UBS Group restated a “neutral” rating and set a $156.00 price objective (down from $171.00) on shares of Nucor in a research report on Thursday, December 12th. Finally, Citigroup dropped their target price on shares of Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $164.63.

Get Our Latest Stock Report on Nucor

Insider Buying and Selling

In related news, CEO Leon J. Topalian sold 11,000 shares of Nucor stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 directly owns 172,136 shares in the company, valued at approximately $29,109,918.96. The trade was a 6.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stephen D. Laxton sold 4,712 shares of Nucor stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total value of $798,825.36. Following the completion of the transaction, the chief financial officer now owns 82,132 shares of the company’s stock, valued at approximately $13,923,837.96. This trade represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,680 shares of company stock valued at $3,452,524. 0.46% of the stock is owned by insiders.

Nucor Stock Performance

NUE opened at $128.69 on Friday. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. The company’s fifty day moving average price is $129.36 and its two-hundred day moving average price is $142.72. The company has a market cap of $30.22 billion, a price-to-earnings ratio of 12.43 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:NUEGet Free Report) last released its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.28. Nucor had a return on equity of 12.06% and a net margin of 8.05%. During the same period last year, the company posted $3.16 earnings per share. On average, analysts expect that Nucor Co. will post 8.18 EPS for the current fiscal year.

Nucor Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.55 per share. This is a positive change from Nucor’s previous quarterly dividend of $0.54. This represents a $2.20 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Tuesday, December 31st. Nucor’s dividend payout ratio (DPR) is 21.26%.

Nucor Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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