Alpha Cubed Investments LLC Sells 218 Shares of Nucor Co. (NYSE:NUE)

Alpha Cubed Investments LLC lowered its position in shares of Nucor Co. (NYSE:NUE) by 13.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,425 shares of the basic materials company’s stock after selling 218 shares during the period. Alpha Cubed Investments LLC’s holdings in Nucor were worth $248,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in NUE. Northern Trust Corp boosted its position in shares of Nucor by 3.7% in the third quarter. Northern Trust Corp now owns 4,175,571 shares of the basic materials company’s stock valued at $652,851,000 after acquiring an additional 149,589 shares during the period. Invesco Ltd. boosted its holdings in Nucor by 7.6% in the 3rd quarter. Invesco Ltd. now owns 2,262,832 shares of the basic materials company’s stock valued at $353,794,000 after purchasing an additional 159,230 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Nucor by 13.0% during the fourth quarter. Pacer Advisors Inc. now owns 2,070,960 shares of the basic materials company’s stock worth $360,430,000 after purchasing an additional 237,752 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Nucor by 0.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,463,589 shares of the basic materials company’s stock worth $228,832,000 after purchasing an additional 11,541 shares during the period. Finally, Nordea Investment Management AB boosted its stake in shares of Nucor by 2.1% in the fourth quarter. Nordea Investment Management AB now owns 1,094,177 shares of the basic materials company’s stock valued at $190,376,000 after buying an additional 22,596 shares during the period. 76.48% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Douglas J. Jellison sold 19,506 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $193.41, for a total value of $3,772,655.46. Following the transaction, the executive vice president now directly owns 120,738 shares in the company, valued at approximately $23,351,936.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Nucor news, EVP Allen C. Behr sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $190.19, for a total transaction of $1,901,900.00. Following the completion of the sale, the executive vice president now directly owns 80,902 shares of the company’s stock, valued at approximately $15,386,751.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Douglas J. Jellison sold 19,506 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.41, for a total value of $3,772,655.46. Following the completion of the sale, the executive vice president now directly owns 120,738 shares of the company’s stock, valued at $23,351,936.58. The disclosure for this sale can be found here. Insiders sold a total of 32,651 shares of company stock worth $6,283,648 over the last quarter. 0.46% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NUE shares. StockNews.com lowered Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. UBS Group assumed coverage on shares of Nucor in a report on Tuesday, January 16th. They set a “buy” rating and a $210.00 target price on the stock. Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. BMO Capital Markets decreased their target price on shares of Nucor from $210.00 to $200.00 and set a “market perform” rating for the company in a research report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Nucor from $195.00 to $190.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $193.14.

Nucor Price Performance

Nucor stock opened at $168.67 on Thursday. The stock’s 50 day moving average price is $189.79 and its two-hundred day moving average price is $174.89. The stock has a market capitalization of $40.48 billion, a price-to-earnings ratio of 9.92 and a beta of 1.65. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.48 and a current ratio of 4.02. Nucor Co. has a 52-week low of $129.79 and a 52-week high of $203.00.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, April 22nd. The basic materials company reported $3.46 EPS for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). The company had revenue of $8.14 billion during the quarter, compared to analyst estimates of $8.26 billion. Nucor had a return on equity of 19.62% and a net margin of 12.40%. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.45 earnings per share. On average, equities analysts predict that Nucor Co. will post 12.5 earnings per share for the current year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, March 28th will be paid a $0.54 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.28%. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

About Nucor

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.