Institute for Wealth Management LLC. Has $415,000 Stock Holdings in Nucor Co. (NYSE:NUE)

Institute for Wealth Management LLC. lessened its stake in Nucor Co. (NYSE:NUE) by 6.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,556 shares of the basic materials company’s stock after selling 252 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Nucor were worth $415,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Nucor by 2.9% during the 3rd quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock worth $1,724,117,000 after purchasing an additional 326,181 shares during the last quarter. National Pension Service increased its stake in shares of Nucor by 3.2% during the 3rd quarter. National Pension Service now owns 652,502 shares of the basic materials company’s stock worth $98,097,000 after purchasing an additional 20,258 shares during the last quarter. Everence Capital Management Inc. acquired a new position in shares of Nucor during the 4th quarter worth $565,000. BIP Wealth LLC acquired a new position in shares of Nucor during the 3rd quarter worth $681,000. Finally, Geode Capital Management LLC increased its stake in shares of Nucor by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,861,945 shares of the basic materials company’s stock worth $883,732,000 after purchasing an additional 74,569 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. The Goldman Sachs Group assumed 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. Citigroup lowered their target price on shares of Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Morgan Stanley lowered their target price on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their target price on shares of Nucor from $152.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, UBS Group reiterated a “neutral” rating and issued a $156.00 target price (down from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Nucor currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.63.

Insider Transactions at Nucor

In other news, EVP Allen C. Behr sold 4,968 shares of the firm’s stock in a transaction dated 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 directly owns 85,376 shares of the company’s stock, valued at approximately $13,636,254.72. This trade represents a 5.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Leon J. Topalian sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the transaction, the chief executive officer now directly owns 172,136 shares of the company’s stock, valued at $29,109,918.96. The trade was a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 20,680 shares of company stock valued at $3,452,524. Company insiders own 0.46% of the company’s stock.

Nucor Price Performance

Shares of Nucor stock opened at $128.39 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.61. Nucor Co. has a fifty-two week low of $112.25 and a fifty-two week high of $203.00. The firm has a fifty day moving average price of $128.94 and a two-hundred day moving average price of $142.62. The company has a market cap of $30.15 billion, a PE ratio of 15.27 and a beta of 1.60.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates 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 posted $3.16 earnings per share. Analysts expect that Nucor Co. will post 7.76 EPS for the current year.

Nucor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Tuesday, December 31st will be issued a $0.55 dividend. The ex-dividend date is Tuesday, December 31st. This is an increase 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%. Nucor’s dividend payout ratio is 26.16%.

Nucor Company 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.