WealthPLAN Partners LLC Boosts Stake in Nucor Co. (NYSE:NUE)


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WealthPLAN Partners LLC lifted its position in shares of Nucor Co. (NYSE:NUE) by 10.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,671 shares of the basic materials company’s stock after acquiring an additional 16,028 shares during the quarter. WealthPLAN Partners LLC owned 0.05% of Nucor worth $8,462,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund boosted its stake in shares of Nucor by 6.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 118,624 shares of the basic materials company’s stock worth $6,310,000 after acquiring an additional 7,196 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new stake in shares of Nucor during the 4th quarter worth about $209,000. Blair William & Co. IL lifted its stake in Nucor by 101.9% in the 4th quarter. Blair William & Co. IL now owns 14,042 shares of the basic materials company’s stock valued at $747,000 after buying an additional 7,086 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in Nucor in the 4th quarter valued at about $735,000. Finally, CI Investments Inc. purchased a new position in Nucor in the 4th quarter valued at about $529,000. 75.12% of the stock is currently owned by institutional investors and hedge funds.

NUE stock traded up $0.69 during mid-day trading on Tuesday, reaching $60.56. The company’s stock had a trading volume of 32,231 shares, compared to its average volume of 2,554,511. The stock has a market cap of $18.28 billion, a PE ratio of 43.18, a P/E/G ratio of 1.35 and a beta of 1.33. The company has a current ratio of 3.78, a quick ratio of 2.40 and a debt-to-equity ratio of 0.51. Nucor Co. has a fifty-two week low of $27.52 and a fifty-two week high of $60.96. The company’s 50 day moving average is $54.62 and its two-hundred day moving average is $50.87.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Thursday, January 28th. The basic materials company reported $1.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.08. The business had revenue of $5.26 billion during the quarter, compared to the consensus estimate of $5.45 billion. Nucor had a net margin of 2.15% and a return on equity of 7.21%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 EPS. On average, analysts forecast that Nucor Co. will post 3.22 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 11th. Stockholders of record on Wednesday, March 31st will be issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.68%. Nucor’s dividend payout ratio is currently 37.59%.

A number of research analysts recently weighed in on the stock. Morgan Stanley assumed coverage on shares of Nucor in a research note on Wednesday, December 9th. They issued an “equal weight” rating and a $60.00 price target on the stock. Credit Suisse Group raised shares of Nucor from a “neutral” rating to an “outperform” rating and raised their price target for the company from $48.00 to $63.00 in a research note on Wednesday, February 3rd. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $49.90.

In other news, CEO Leon J. Topalian sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 21st. The shares were sold at an average price of $53.88, for a total transaction of $538,800.00. Following the completion of the sale, the chief executive officer now owns 100,577 shares in the company, valued at approximately $5,419,088.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.39% of the stock is owned by company insiders.

Nucor Company Profile

Nucor Corporation manufactures and sells 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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