WealthPlan Investment Management LLC Lowers Holdings in Nucor Co. (NYSE:NUE)

WealthPlan Investment Management LLC lowered its position in Nucor Co. (NYSE:NUE - Free Report) by 14.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,018 shares of the basic materials company's stock after selling 9,837 shares during the quarter. WealthPlan Investment Management LLC's holdings in Nucor were worth $7,005,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp lifted its position in Nucor by 2.9% in the third quarter. State Street Corp now owns 11,427,899 shares of the basic materials company's stock valued at $1,724,117,000 after purchasing an additional 326,181 shares during the last quarter. National Pension Service lifted its position in Nucor by 3.2% in the third quarter. National Pension Service now owns 652,502 shares of the basic materials company's stock valued at $98,097,000 after purchasing an additional 20,258 shares during the last quarter. Everence Capital Management Inc. bought a new stake in Nucor in the fourth quarter valued at approximately $565,000. BIP Wealth LLC bought a new stake in Nucor in the third quarter valued at approximately $681,000. Finally, Geode Capital Management LLC lifted its position in Nucor by 1.3% in the third quarter. Geode Capital Management LLC now owns 5,861,945 shares of the basic materials company's stock valued at $883,732,000 after purchasing an additional 74,569 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. StockNews.com upgraded Nucor from a "sell" rating to a "hold" rating in a research report on Wednesday, February 12th. The Goldman Sachs Group initiated coverage on Nucor in a report on Monday, December 2nd. They set a "buy" rating and a $190.00 target price for the company. Jefferies Financial Group upped their target price on Nucor from $125.00 to $135.00 and gave the company a "hold" rating in a report on Wednesday, January 29th. Citigroup decreased their target price on Nucor from $240.00 to $160.00 and set a "buy" rating for the company in a report on Thursday, December 19th. 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 report on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $163.13.

Nucor Stock Performance

Shares of Nucor stock traded down $2.67 during trading hours on Wednesday, reaching $139.85. 2,371,180 shares of the stock traded hands, compared to its average volume of 2,914,607. The company has a 50 day moving average price of $124.79 and a 200 day moving average price of $139.99. The firm has a market capitalization of $32.84 billion, a price-to-earnings ratio of 16.63, a P/E/G ratio of 0.95 and a beta of 1.60. Nucor Co. has a one year low of $112.25 and a one year high of $203.00. 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 (NYSE:NUE - Get Free Report) last released its quarterly earnings results 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 prior year, the company posted $3.16 earnings per share. On average, equities research analysts expect that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be paid a dividend of $0.55 per share. The ex-dividend date is Monday, March 31st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.57%. Nucor's dividend payout ratio (DPR) is presently 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.