Cove Private Wealth LLC Sells 150 Shares of Nucor Co. (NYSE:NUE)

Cove Private Wealth LLC lowered its position in shares of Nucor Co. (NYSE:NUE) by 1.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,725 shares of the basic materials company’s stock after selling 150 shares during the period. Cove Private Wealth LLC’s holdings in Nucor were worth $1,252,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Widmann Financial Services Inc. boosted its position in Nucor by 4.0% during the 3rd quarter. Widmann Financial Services Inc. now owns 1,800 shares of the basic materials company’s stock worth $271,000 after buying an additional 70 shares during the period. Brighton Jones LLC lifted its holdings in shares of Nucor by 3.3% during the second quarter. Brighton Jones LLC now owns 2,218 shares of the basic materials company’s stock worth $351,000 after purchasing an additional 71 shares during the period. 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 worth $35,000 after purchasing an additional 72 shares during the last quarter. First Trust Direct Indexing L.P. increased its holdings in Nucor by 1.4% in the third quarter. First Trust Direct Indexing L.P. now owns 5,467 shares of the basic materials company’s stock valued at $822,000 after purchasing an additional 74 shares during the period. Finally, Mirador Capital Partners LP raised its position in Nucor by 1.5% during the 3rd quarter. Mirador Capital Partners LP now owns 5,250 shares of the basic materials company’s stock worth $789,000 after purchasing an additional 77 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Buying and Selling

In other Nucor news, CFO Stephen D. Laxton sold 4,712 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total transaction of $798,825.36. Following the completion of the sale, the chief financial officer now directly owns 82,132 shares of the company’s stock, valued at approximately $13,923,837.96. The trade was a 5.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kenneth Rex Query sold 9,000 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total value of $1,321,200.00. Following the completion of the sale, the executive vice president now directly 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 a total of 29,680 shares of company stock worth $4,773,724 in the last ninety days. Corporate insiders own 0.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. The Goldman Sachs Group assumed coverage on Nucor in a research report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price target on the stock. Jefferies Financial Group lowered their price target on shares of Nucor from $150.00 to $125.00 and set a “hold” rating for the company in a report on Monday, January 6th. Morgan Stanley dropped their price target on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Citigroup lowered their target price on shares of Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. cut their price target on shares of Nucor from $168.00 to $152.00 and set an “overweight” rating on the stock in a research report on Friday. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Nucor has an average rating of “Moderate Buy” and an average price target of $163.63.

Nucor Trading Up 0.8 %

NYSE:NUE opened at $124.40 on Monday. The firm has a fifty day simple moving average of $133.52 and a two-hundred day simple moving average of $144.40. Nucor Co. has a 12 month low of $112.25 and a 12 month high of $203.00. The stock has a market capitalization of $29.21 billion, a price-to-earnings ratio of 12.02 and a beta of 1.60. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26.

Nucor (NYSE:NUE) last issued its earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.09. The business had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The firm’s revenue was down 15.2% compared to the same quarter last year. During the same period in the previous year, the company posted $4.57 EPS. Analysts expect that Nucor Co. will post 8.19 EPS for the current fiscal year.

Nucor Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.77%. This is a positive change from Nucor’s previous quarterly dividend of $0.54. The ex-dividend date is Tuesday, December 31st. Nucor’s dividend payout ratio is presently 21.26%.

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.