Nucor Co. (NYSE:NUE) Stock Holdings Increased by WealthPlan Investment Management LLC

WealthPlan Investment Management LLC boosted its holdings in Nucor Co. (NYSE:NUE - Free Report) by 16.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 69,855 shares of the basic materials company's stock after acquiring an additional 9,881 shares during the period. WealthPlan Investment Management LLC's holdings in Nucor were worth $10,502,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NUE. McClarren Financial Advisors Inc. raised its holdings in Nucor by 129.0% in the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 89 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in Nucor in the third quarter valued at about $26,000. Brown Lisle Cummings Inc. acquired a new stake in Nucor in the third quarter valued at $30,000. Salomon & Ludwin LLC boosted its holdings in Nucor by 45.6% during the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company's stock worth $35,000 after buying an additional 72 shares in the last quarter. Finally, HHM Wealth Advisors LLC boosted its stake in shares of Nucor by 769.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company's stock worth $36,000 after acquiring an additional 200 shares in the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NUE has been the subject of a number of research analyst reports. Morgan Stanley dropped their price target on Nucor from $170.00 to $166.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their target price on shares of Nucor from $170.00 to $168.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. Argus raised shares of Nucor to a "strong-buy" rating in a report on Monday, August 26th. Finally, BMO Capital Markets dropped their price objective on shares of Nucor from $175.00 to $160.00 and set a "market perform" rating for the company in a research note on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $190.57.

Insider Activity at Nucor

In related news, CFO Stephen D. Laxton sold 4,712 shares of the firm's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total transaction of $798,825.36. Following the sale, the chief financial officer now directly owns 82,132 shares in the company, valued at approximately $13,923,837.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Kenneth Rex Query sold 9,000 shares of the company's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the sale, the executive vice president now owns 98,770 shares in the company, valued at approximately $14,499,436. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Stephen D. Laxton sold 4,712 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total value of $798,825.36. Following the completion of the sale, the chief financial officer now owns 82,132 shares of the company's stock, valued at $13,923,837.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,712 shares of company stock worth $3,980,235. 0.46% of the stock is currently owned by corporate insiders.

Nucor Trading Down 3.7 %

NUE stock traded down $5.82 during midday trading on Tuesday, hitting $153.24. The stock had a trading volume of 785,557 shares, compared to its average volume of 1,538,083. The firm has a market cap of $35.98 billion, a PE ratio of 15.37 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61. Nucor Co. has a 12-month low of $133.42 and a 12-month high of $203.00. The company's 50-day moving average price is $148.18 and its 200 day moving average price is $155.39.

Nucor (NYSE:NUE - Get Free Report) last released its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.40 by $0.09. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The firm had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. During the same period in the previous year, the firm earned $4.57 earnings per share. Nucor's revenue was down 15.2% compared to the same quarter last year. On average, equities research analysts predict that Nucor Co. will post 8.6 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, September 27th were given a dividend of $0.54 per share. The ex-dividend date was Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.41%. Nucor's dividend payout ratio (DPR) is 20.87%.

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.