IHT Wealth Management LLC Sells 778 Shares of Nucor Co. (NYSE:NUE)

IHT Wealth Management LLC cut its holdings in Nucor Co. (NYSE:NUE) by 14.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,781 shares of the basic materials company’s stock after selling 778 shares during the period. IHT Wealth Management LLC’s holdings in Nucor were worth $558,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NUE. Crews Bank & Trust purchased a new stake in Nucor during the 4th quarter valued at about $29,000. New Wave Wealth Advisors LLC bought a new stake in Nucor in the fourth quarter valued at approximately $33,000. Versant Capital Management Inc boosted its stake in shares of Nucor by 60.3% during the fourth quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 114 shares during the period. Beacon Capital Management LLC grew its holdings in shares of Nucor by 29.1% in the fourth quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 94 shares during the last quarter. Finally, Millstone Evans Group LLC purchased a new position in shares of Nucor in the fourth quarter worth $50,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Trading Up 0.4 %

NYSE NUE opened at $115.70 on Friday. Nucor Co. has a twelve month low of $97.59 and a twelve month high of $176.83. The firm has a market capitalization of $26.67 billion, a PE ratio of 13.76, a P/E/G ratio of 0.96 and a beta of 1.67. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The stock’s 50 day moving average is $122.58 and its 200 day moving average is $131.93.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) 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 quarter in the previous year, the company posted $3.16 earnings per share. Research analysts forecast that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Monday, March 31st. Nucor’s dividend payout ratio (DPR) is presently 26.16%.

Analyst Ratings Changes

Several brokerages have weighed in on NUE. JPMorgan Chase & Co. dropped their price target on shares of Nucor from $156.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Argus set a $155.00 target price on shares of Nucor in a report on Wednesday, March 5th. Jefferies Financial Group boosted their price target on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. UBS Group upgraded Nucor from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $156.00 to $160.00 in a research report on Monday, March 24th. Finally, StockNews.com upgraded Nucor from a “sell” rating to a “hold” rating in a report on Friday, April 18th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Nucor presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.33.

Nucor 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.