WealthPLAN Partners LLC Reduces Holdings in Nucor Co. (NYSE:NUE)

WealthPLAN Partners LLC trimmed its holdings in shares of Nucor Co. (NYSE:NUE - Free Report) by 28.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,288 shares of the basic materials company's stock after selling 10,327 shares during the quarter. WealthPLAN Partners LLC's holdings in Nucor were worth $3,952,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its holdings in shares of Nucor by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,909,388 shares of the basic materials company's stock worth $617,915,000 after purchasing an additional 84,558 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Nucor by 29.7% in the 2nd quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company's stock worth $456,030,000 after acquiring an additional 660,866 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Nucor by 3.2% during the 2nd quarter. Legal & General Group Plc now owns 2,160,803 shares of the basic materials company's stock worth $341,580,000 after purchasing an additional 67,974 shares during the period. Hsbc Holdings PLC grew its holdings in Nucor by 11.6% during the 2nd quarter. Hsbc Holdings PLC now owns 1,069,920 shares of the basic materials company's stock valued at $169,433,000 after purchasing an additional 111,177 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in Nucor by 2.8% in the second quarter. ProShare Advisors LLC now owns 1,055,632 shares of the basic materials company's stock worth $166,874,000 after purchasing an additional 28,384 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company's stock.

Nucor Stock Down 4.3 %

Shares of NYSE NUE traded down $6.81 during mid-day trading on Tuesday, reaching $152.25. 748,324 shares of the company were exchanged, compared to its average volume of 1,537,913. The firm has a 50-day moving average of $148.18 and a 200 day moving average of $155.39. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. The stock has a market cap of $35.75 billion, a price-to-earnings ratio of 15.37 and a beta of 1.55.

Nucor (NYSE:NUE - Get Free Report) last issued its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $7.28 billion. During the same quarter in the previous year, the firm earned $4.57 EPS. The company's quarterly revenue was down 15.2% compared to the same quarter last year. On average, research analysts expect that Nucor Co. will post 8.6 earnings per share for the current year.

Nucor Dividend Announcement

The company 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 1.42%. Nucor's dividend payout ratio is currently 20.87%.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, CEO Leon J. Topalian sold 11,000 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total value of $1,860,210.00. Following the sale, the chief executive officer now owns 172,136 shares in the company, valued at $29,109,918.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Leon J. Topalian sold 11,000 shares of the company's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total value of $1,860,210.00. Following the sale, the chief executive officer now owns 172,136 shares in the company, valued at $29,109,918.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kenneth Rex Query sold 9,000 shares of Nucor stock in a transaction that occurred on 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 transaction, the executive vice president now owns 98,770 shares of the company's stock, valued at approximately $14,499,436. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,712 shares of company stock valued at $3,980,235. Company insiders own 0.46% of the company's stock.

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.