OFC Financial Planning LLC Makes New Investment in Nucor Co. (NYSE:NUE)

OFC Financial Planning LLC bought a new position in shares of Nucor Co. (NYSE:NUE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 7,526 shares of the basic materials company’s stock, valued at approximately $878,000. Nucor makes up about 0.9% of OFC Financial Planning LLC’s holdings, making the stock its 27th biggest position.

A number of other institutional investors also recently modified their holdings of NUE. Renaissance Technologies LLC raised its position in Nucor by 4.3% during the second quarter. Renaissance Technologies LLC now owns 9,700 shares of the basic materials company’s stock valued at $1,533,000 after purchasing an additional 400 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in Nucor in the 2nd quarter valued at approximately $7,248,000. Czech National Bank grew its position in shares of Nucor by 5.8% in the 3rd quarter. Czech National Bank now owns 48,348 shares of the basic materials company’s stock valued at $7,269,000 after buying an additional 2,659 shares during the last quarter. SG Americas Securities LLC increased its position in Nucor by 188.1% during the 3rd quarter. SG Americas Securities LLC now owns 47,294 shares of the basic materials company’s stock valued at $7,110,000 after purchasing an additional 30,879 shares during the period. Finally, Duncan Williams Asset Management LLC acquired a new stake in shares of Nucor during the third quarter worth $271,000. Institutional investors own 76.48% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling at Nucor

In related news, CFO Stephen D. Laxton sold 4,712 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total transaction of $798,825.36. Following the sale, the chief financial officer now owns 82,132 shares of the company’s stock, valued at $13,923,837.96. The trade was a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Allen C. Behr sold 4,968 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $159.72, for a total value of $793,488.96. Following the completion of 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 ownership of the stock. 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 90 days. Insiders own 0.46% of the company’s stock.

Nucor Price Performance

NUE opened at $128.39 on Friday. Nucor Co. has a 12-month low of $112.25 and a 12-month high of $203.00. The company has a current ratio of 2.51, a quick ratio of 1.61 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average price of $128.47 and a 200-day moving average price of $142.37. The stock has a market capitalization of $30.15 billion, a P/E ratio of 15.27 and a beta of 1.60.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.28. Nucor had a return on equity of 9.85% and a net margin of 6.60%. During the same quarter in the previous year, the company earned $3.16 EPS. Equities analysts predict that Nucor Co. will post 7.76 earnings per share for the current fiscal year.

Nucor Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Tuesday, December 31st will be given a $0.55 dividend. This is a boost from Nucor’s previous quarterly dividend of $0.54. The ex-dividend date is Tuesday, December 31st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.71%. Nucor’s payout ratio is presently 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.