Invesco LLC Sells 117 Shares of Nucor Co. (NYSE:NUE)

Invesco LLC lessened its holdings in shares of Nucor Co. (NYSE:NUE) by 4.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,701 shares of the basic materials company’s stock after selling 117 shares during the quarter. Invesco LLC’s holdings in Nucor were worth $315,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC bought a new stake in Nucor in the third quarter worth $26,000. Coastline Trust Co acquired a new stake in Nucor in the 3rd quarter worth approximately $29,000. Brown Lisle Cummings Inc. bought a new stake in Nucor during the third quarter worth approximately $30,000. Salomon & Ludwin LLC grew its holdings in Nucor by 45.6% during the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 72 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Nucor by 60.3% in the fourth quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock worth $35,000 after buying an additional 114 shares during the last quarter. 76.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on NUE shares. Citigroup lowered their target price on shares of Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. The Goldman Sachs Group started coverage on Nucor in a research note on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective on the stock. Morgan Stanley decreased their target price on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Jefferies Financial Group lifted their price target on Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, UBS Group reissued a “neutral” rating and issued a $156.00 price objective (down from $171.00) on shares of Nucor in a research report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $164.63.

Nucor Price Performance

NYSE NUE traded up $1.36 on Wednesday, reaching $127.91. The company’s stock had a trading volume of 388,102 shares, compared to its average volume of 2,409,394. Nucor Co. has a 52 week low of $112.25 and a 52 week high of $203.00. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. The firm has a market cap of $30.03 billion, a PE ratio of 12.36 and a beta of 1.60. The business has a 50-day moving average price of $129.79 and a 200 day moving average price of $142.83.

Nucor (NYSE:NUE) last announced its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.28. Nucor had a net margin of 8.05% and a return on equity of 12.06%. During the same quarter in the previous year, the company posted $3.16 earnings per share. Sell-side analysts expect that Nucor Co. will post 8.18 EPS for the current year.

Nucor Increases Dividend

The firm also recently announced 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 an increase from Nucor’s previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Tuesday, December 31st. Nucor’s payout ratio is presently 21.26%.

Insider Activity at Nucor

In other news, CFO Stephen D. Laxton sold 4,712 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total value of $798,825.36. Following the completion of the sale, the chief financial officer now directly owns 82,132 shares in the company, valued at approximately $13,923,837.96. This trade represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Allen C. Behr sold 4,968 shares of the 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 sale, the executive vice president now directly owns 85,376 shares in the company, valued at approximately $13,636,254.72. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,680 shares of company stock valued at $3,452,524 in the last three months. Corporate 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.