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

WealthPLAN Partners LLC lessened its holdings in Nucor Co. (NYSE:NUE - Free Report) by 30.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 37,841 shares of the basic materials company's stock after selling 16,485 shares during the period. WealthPLAN Partners LLC's holdings in Nucor were worth $7,489,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NUE. NTV Asset Management LLC raised its stake in Nucor by 33.3% during the 1st quarter. NTV Asset Management LLC now owns 4,000 shares of the basic materials company's stock worth $792,000 after acquiring an additional 1,000 shares during the period. Forsta AP Fonden grew its holdings in Nucor by 29.6% during the 1st quarter. Forsta AP Fonden now owns 67,500 shares of the basic materials company's stock valued at $13,358,000 after buying an additional 15,400 shares in the last quarter. Mitsubishi UFJ Asset Management UK Ltd. purchased a new stake in Nucor during the 1st quarter valued at approximately $594,000. Capital Wealth Planning LLC grew its holdings in Nucor by 156.0% during the 1st quarter. Capital Wealth Planning LLC now owns 7,195 shares of the basic materials company's stock valued at $1,424,000 after buying an additional 4,385 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in Nucor by 33.1% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 7,537 shares of the basic materials company's stock valued at $1,492,000 after buying an additional 1,875 shares in the last quarter. Institutional investors own 76.48% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NUE shares. Bank of America cut their price objective on shares of Nucor from $210.00 to $200.00 and set a "buy" rating for the company in a report on Wednesday, June 26th. StockNews.com lowered shares of Nucor from a "buy" rating to a "hold" rating in a report on Tuesday, April 23rd. BMO Capital Markets cut their target price on shares of Nucor from $185.00 to $175.00 and set a "market perform" rating for the company in a report on Monday, June 17th. Jefferies Financial Group began coverage on shares of Nucor in a report on Monday, May 20th. They issued a "hold" rating and a $190.00 target price for the company. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Nucor from $190.00 to $180.00 and set a "neutral" rating for the company in a research note on Tuesday, June 11th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Nucor has a consensus rating of "Hold" and an average target price of $192.71.

Nucor Stock Up 1.3 %

Shares of NUE stock traded up $2.14 on Friday, hitting $161.10. The stock had a trading volume of 1,414,643 shares, compared to its average volume of 1,607,640. The company has a quick ratio of 2.48, a current ratio of 4.02 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average price of $162.64 and a 200 day moving average price of $176.43. The company has a market cap of $38.63 billion, a PE ratio of 9.48 and a beta of 1.57. Nucor Co. has a one year low of $140.07 and a one year high of $203.00.

Nucor (NYSE:NUE - Get Free Report) last posted its earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.62 by ($0.16). Nucor had a net margin of 12.40% and a return on equity of 19.62%. The company had revenue of $8.14 billion during the quarter, compared to analysts' expectations of $8.26 billion. During the same quarter last year, the firm earned $4.45 EPS. Nucor's revenue for the quarter was down 6.6% on a year-over-year basis. Research analysts anticipate that Nucor Co. will post 10.84 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.34%. Nucor's payout ratio is 12.71%.

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.