Nucor Co. (NYSE:NUE) Shares Sold by Tyche Wealth Partners LLC

Tyche Wealth Partners LLC lowered its holdings in Nucor Co. (NYSE:NUE) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,021 shares of the basic materials company’s stock after selling 87 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Nucor were worth $236,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in shares of Nucor in the third quarter valued at $26,000. Coastline Trust Co purchased a new position in shares of Nucor in the third quarter valued at $29,000. Crews Bank & Trust purchased a new position in shares of Nucor in the fourth quarter valued at $29,000. Brown Lisle Cummings Inc. purchased a new position in shares of Nucor in the third quarter valued at $30,000. Finally, New Wave Wealth Advisors LLC purchased a new position in shares of Nucor in the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Price Performance

NUE stock opened at $133.17 on Friday. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. Nucor Co. has a 52-week low of $112.25 and a 52-week high of $203.00. The stock’s 50 day moving average is $127.13 and its two-hundred day moving average is $141.53. The company has a market capitalization of $31.27 billion, a PE ratio of 15.83 and a beta of 1.60.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share 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 period in the prior year, the business posted $3.16 earnings per share. Analysts predict that Nucor Co. will post 7.88 earnings per share for the current fiscal year.

Nucor Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.55 per share. This is an increase from Nucor’s previous quarterly dividend of $0.54. This represents a $2.20 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Tuesday, December 31st. Nucor’s dividend payout ratio is presently 26.16%.

Insider Buying and Selling

In related news, EVP Allen C. Behr sold 4,968 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $159.72, for a total transaction of $793,488.96. Following the completion of the transaction, the executive vice president now directly owns 85,376 shares in the company, valued at $13,636,254.72. This represents a 5.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.64% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NUE. Jefferies Financial Group raised their price target on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Morgan Stanley dropped their price objective on Nucor from $166.00 to $154.00 and set an “overweight” rating for the company in a research report on Monday. The Goldman Sachs Group began coverage on Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 price objective for the company. JPMorgan Chase & Co. dropped their price objective on Nucor from $152.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Finally, StockNews.com cut Nucor from a “hold” rating to a “sell” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.13.

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.