Spire Wealth Management Has $1.14 Million Stake in Nucor Co. (NYSE:NUE)

Spire Wealth Management raised its stake in shares of Nucor Co. (NYSE:NUE) by 31.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,827 shares of the basic materials company’s stock after acquiring an additional 1,647 shares during the quarter. Spire Wealth Management’s holdings in Nucor were worth $1,139,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Northern Trust Corp raised its stake 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 last quarter. Invesco Ltd. grew its holdings in shares of Nucor by 7.6% during the third quarter. Invesco Ltd. now owns 2,262,832 shares of the basic materials company’s stock worth $353,794,000 after purchasing an additional 159,230 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Nucor by 13.0% in the fourth quarter. Pacer Advisors Inc. now owns 2,070,960 shares of the basic materials company’s stock valued at $360,430,000 after buying an additional 237,752 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Nucor by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,463,589 shares of the basic materials company’s stock worth $228,832,000 after buying an additional 11,541 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in Nucor by 2.1% in the 4th quarter. Nordea Investment Management AB now owns 1,094,177 shares of the basic materials company’s stock valued at $190,376,000 after acquiring an additional 22,596 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Stock Performance

NUE stock opened at $170.63 on Wednesday. The firm has a market cap of $40.95 billion, a PE ratio of 10.11 and a beta of 1.65. The company has a current ratio of 4.02, a quick ratio of 2.48 and a debt-to-equity ratio of 0.31. The business’s 50-day moving average price is $188.31 and its two-hundred day moving average price is $175.83. Nucor Co. has a 1-year low of $129.79 and a 1-year high of $203.00.

Nucor (NYSE:NUE) last announced its earnings results on Monday, April 22nd. The basic materials company reported $3.46 EPS for the quarter, missing the consensus estimate of $3.62 by ($0.16). The company had revenue of $8.14 billion for 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 business’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the business posted $4.45 earnings per share. As a group, research analysts forecast that Nucor Co. will post 12.55 earnings per share for the current year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.27%. Nucor’s dividend payout ratio is currently 12.71%.

Analysts Set New Price Targets

Several analysts have recently commented on NUE shares. StockNews.com cut shares of Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. BMO Capital Markets cut their price target on Nucor from $210.00 to $200.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 24th. UBS Group began coverage on Nucor in a report on Tuesday, January 16th. They set a “buy” rating and a $210.00 price objective for the company. Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $193.14.

Insider Transactions at Nucor

In related news, insider Michael D. Keller sold 3,145 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.67, for a total transaction of $609,092.15. Following the sale, the insider now owns 24,873 shares in the company, valued at $4,817,153.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Douglas J. Jellison sold 19,506 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.41, for a total value of $3,772,655.46. Following the sale, the executive vice president now directly owns 120,738 shares of the company’s stock, valued at approximately $23,351,936.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael D. Keller sold 3,145 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the transaction, the insider now directly owns 24,873 shares in the company, valued at approximately $4,817,153.91. The disclosure for this sale can be found here. Insiders have sold a total of 32,651 shares of company stock valued at $6,283,648 over the last 90 days. 0.46% of the stock is owned by corporate insiders.

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.