OFC Financial Planning LLC Invests $878,000 in Nucor Co. (NYSE:NUE)

OFC Financial Planning LLC acquired a new stake in shares of Nucor Co. (NYSE:NUE) during the fourth quarter, HoldingsChannel reports. The fund acquired 7,526 shares of the basic materials company’s stock, valued at approximately $878,000. Nucor accounts for 0.9% of OFC Financial Planning LLC’s investment portfolio, making the stock its 27th biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in Nucor during the 3rd quarter worth approximately $26,000. Coastline Trust Co purchased a new stake in shares of Nucor in the third quarter worth about $29,000. Brown Lisle Cummings Inc. bought a new stake in Nucor in the third quarter worth $30,000. Salomon & Ludwin LLC increased its holdings in shares of Nucor by 45.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after buying an additional 72 shares during the last quarter. Finally, Crews Bank & Trust purchased a new stake in Nucor during the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Trading Down 0.2 %

Shares of NUE stock opened at $128.39 on Friday. The stock has a 50 day simple moving average of $128.47 and a 200-day simple moving average of $142.37. Nucor Co. has a 1-year low of $112.25 and a 1-year high of $203.00. The company has a market cap of $30.15 billion, a price-to-earnings ratio of 15.27 and a beta of 1.60. 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 (NYSE:NUE) last issued its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, topping 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 in the previous year, the company posted $3.16 EPS. On average, equities research analysts expect that Nucor Co. will post 7.76 EPS for the current fiscal year.

Nucor Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st will be issued a $0.55 dividend. This is a positive change from Nucor’s previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Tuesday, December 31st. Nucor’s dividend payout ratio is currently 26.16%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NUE shares. Morgan Stanley lowered their target price on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. UBS Group reaffirmed a “neutral” rating and issued a $156.00 price objective (down previously from $171.00) on shares of Nucor in a research report on Thursday, December 12th. Jefferies Financial Group boosted their price target on Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research note on Wednesday. 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. Finally, The Goldman Sachs Group assumed coverage on shares of Nucor in a research note on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective on the stock. Four investment 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.63.

Insider Buying and Selling

In other 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 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 represents a 5.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Leon J. Topalian sold 11,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 172,136 shares of the company’s stock, valued at $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 quarter, insiders sold 20,680 shares of company stock valued at $3,452,524. Company insiders own 0.46% of the company’s stock.

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.