Tcfg Wealth Management LLC Sells 126 Shares of Nucor Co. (NYSE:NUE)

Tcfg Wealth Management LLC cut its holdings in Nucor Co. (NYSE:NUE) by 1.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 10,412 shares of the basic materials company’s stock after selling 126 shares during the period. Tcfg Wealth Management LLC’s holdings in Nucor were worth $1,215,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Allworth Financial LP lifted its stake in Nucor by 65.9% in the fourth quarter. Allworth Financial LP now owns 1,375 shares of the basic materials company’s stock worth $168,000 after purchasing an additional 546 shares during the last quarter. Beacon Capital Management LLC raised its stake in shares of Nucor by 29.1% during the fourth quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company’s stock valued at $49,000 after acquiring an additional 94 shares during the last quarter. Bull Street Advisors LLC boosted its holdings in shares of Nucor by 1.3% during the fourth quarter. Bull Street Advisors LLC now owns 9,522 shares of the basic materials company’s stock worth $1,111,000 after purchasing an additional 120 shares during the period. V Square Quantitative Management LLC boosted its holdings in shares of Nucor by 4.0% during the fourth quarter. V Square Quantitative Management LLC now owns 5,568 shares of the basic materials company’s stock worth $650,000 after purchasing an additional 216 shares during the period. Finally, Vontobel Holding Ltd. boosted its holdings in shares of Nucor by 12.5% during the fourth quarter. Vontobel Holding Ltd. now owns 9,013 shares of the basic materials company’s stock worth $1,052,000 after purchasing an additional 1,001 shares during the period. 76.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NUE. Morgan Stanley dropped their target price on shares of Nucor from $166.00 to $154.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. UBS Group reiterated a “neutral” rating and set a $156.00 target price (down from $171.00) on shares of Nucor in a report on Thursday, December 12th. StockNews.com upgraded shares of Nucor from a “sell” rating to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. dropped their target price on shares of Nucor from $152.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Finally, The Goldman Sachs Group began coverage on shares of Nucor in a report on Monday, December 2nd. They set a “buy” rating and a $190.00 target price for the company. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Nucor has a consensus rating of “Moderate Buy” and an average price target of $163.13.

Nucor Stock Performance

Shares of NUE opened at $137.75 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48. Nucor Co. has a one year low of $112.25 and a one year high of $203.00. The company has a 50-day simple moving average of $124.89 and a two-hundred day simple moving average of $140.34. The firm has a market capitalization of $32.34 billion, a PE ratio of 16.38 and a beta of 1.60.

Nucor (NYSE:NUE) last announced its 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 net margin of 6.60% and a return on equity of 9.85%. During the same quarter in the prior year, the business earned $3.16 earnings per share. On average, analysts anticipate that Nucor Co. will post 7.88 EPS for the current fiscal year.

Nucor Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.55 per share. This is an increase from Nucor’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.60%. Nucor’s dividend payout ratio (DPR) is currently 26.16%.

Nucor 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.