Seamount Financial Group Inc. Sells 400 Shares of Nucor Co. (NYSE:NUE)

Seamount Financial Group Inc. lessened its holdings in Nucor Co. (NYSE:NUE) by 13.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,527 shares of the basic materials company’s stock after selling 400 shares during the period. Seamount Financial Group Inc.’s holdings in Nucor were worth $295,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Golden State Wealth Management LLC purchased a new position in shares of Nucor in the 4th quarter worth approximately $308,000. Global X Japan Co. Ltd. lifted its position in Nucor by 35.0% in the fourth quarter. Global X Japan Co. Ltd. now owns 3,681 shares of the basic materials company’s stock worth $430,000 after buying an additional 955 shares during the last quarter. Beacon Financial Advisory LLC boosted its stake in Nucor by 8.2% during the fourth quarter. Beacon Financial Advisory LLC now owns 6,820 shares of the basic materials company’s stock worth $796,000 after buying an additional 519 shares during the period. Legacy CG LLC bought a new position in Nucor during the fourth quarter valued at $1,627,000. Finally, Crewe Advisors LLC raised its stake in shares of Nucor by 691.0% in the fourth quarter. Crewe Advisors LLC now owns 2,642 shares of the basic materials company’s stock valued at $308,000 after acquiring an additional 2,308 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NUE shares. StockNews.com cut shares of Nucor from a “hold” rating to a “sell” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. cut their target price on Nucor from $152.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. UBS Group reissued a “neutral” rating and set a $156.00 price target (down from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Jefferies Financial Group upped their price objective on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Finally, The Goldman Sachs Group initiated coverage on Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $163.13.

Insider Activity

In related news, EVP Allen C. Behr sold 4,968 shares of the firm’s 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 owns 85,376 shares of the company’s stock, valued at $13,636,254.72. This trade represents a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.64% of the company’s stock.

Nucor Stock Performance

Shares of Nucor stock opened at $130.18 on Friday. Nucor Co. has a 12 month low of $112.25 and a 12 month high of $203.00. The stock’s fifty day moving average price is $126.70 and its 200-day moving average price is $141.47. The firm has a market cap of $30.57 billion, a P/E ratio of 15.48 and a beta of 1.60. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, beating the consensus estimate 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 period last year, the company posted $3.16 earnings per share. On average, equities research analysts expect that Nucor Co. will post 7.88 earnings per share for the current fiscal year.

Nucor Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.69%. The ex-dividend date is Tuesday, December 31st. This is a boost from Nucor’s previous quarterly dividend of $0.54. Nucor’s dividend payout ratio (DPR) is 26.16%.

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.