Nucor Co. (NYSE:NUE) Shares Sold by Tyche Wealth Partners LLC

Tyche Wealth Partners LLC lessened its holdings in shares of Nucor Co. (NYSE:NUE) by 4.1% in the fourth quarter, HoldingsChannel reports. The fund owned 2,021 shares of the basic materials company’s stock after selling 87 shares during the period. Tyche Wealth Partners LLC’s holdings in Nucor were worth $236,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Crewe Advisors LLC lifted its holdings in shares of Nucor by 691.0% in the fourth quarter. Crewe Advisors LLC now owns 2,642 shares of the basic materials company’s stock valued at $308,000 after buying an additional 2,308 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Nucor by 37.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,832 shares of the basic materials company’s stock valued at $3,147,000 after buying an additional 7,277 shares during the period. Hager Investment Management Services LLC acquired a new stake in shares of Nucor in the fourth quarter valued at $625,000. Stratos Wealth Partners LTD. lifted its holdings in shares of Nucor by 3.9% in the fourth quarter. Stratos Wealth Partners LTD. now owns 3,893 shares of the basic materials company’s stock valued at $454,000 after buying an additional 146 shares during the period. Finally, Rockline Wealth Management LLC lifted its holdings in shares of Nucor by 2.1% in the fourth quarter. Rockline Wealth Management LLC now owns 22,878 shares of the basic materials company’s stock valued at $2,670,000 after buying an additional 460 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Stock Down 0.0 %

NYSE:NUE opened at $133.17 on Friday. The firm has a market capitalization of $31.27 billion, a price-to-earnings ratio of 15.83 and a beta of 1.60. Nucor Co. has a 1-year low of $112.25 and a 1-year high of $203.00. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. The business’s fifty day moving average price is $127.13 and its 200 day moving average price is $141.53.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.28. Nucor had a return on equity of 9.85% and a net margin of 6.60%. During the same quarter last year, the business earned $3.16 EPS. On average, sell-side analysts forecast that Nucor Co. will post 7.88 earnings per share 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 given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.65%. This is a positive change from Nucor’s previous quarterly dividend of $0.54. The ex-dividend date is Tuesday, December 31st. Nucor’s payout ratio is presently 26.16%.

Insider Activity at Nucor

In other Nucor news, EVP Allen C. Behr sold 4,968 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $159.72, for a total value of $793,488.96. Following the transaction, the executive vice president now directly owns 85,376 shares of the company’s stock, valued at $13,636,254.72. This represents a 5.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.64% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on NUE shares. Citigroup cut their price objective on Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, December 19th. JPMorgan Chase & Co. cut their target price on Nucor from $152.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Jefferies Financial Group boosted their target price on Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Morgan Stanley cut their target price on Nucor from $166.00 to $154.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, StockNews.com lowered Nucor from a “hold” rating to a “sell” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Nucor has a consensus rating of “Moderate Buy” and a consensus price target of $163.13.

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.