Institute for Wealth Management LLC. Sells 777 Shares of Nucor Co. (NYSE:NUE)

Institute for Wealth Management LLC. lowered its stake in Nucor Co. (NYSE:NUE) by 16.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,071 shares of the basic materials company’s stock after selling 777 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Nucor were worth $709,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Moneta Group Investment Advisors LLC lifted its position in Nucor by 127,059.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 155,232,061 shares of the basic materials company’s stock valued at $20,461,138,000 after purchasing an additional 155,109,984 shares during the last quarter. Geode Capital Management LLC lifted its position in Nucor by 0.4% in the first quarter. Geode Capital Management LLC now owns 5,438,353 shares of the basic materials company’s stock valued at $841,209,000 after purchasing an additional 23,366 shares during the last quarter. Morgan Stanley lifted its position in Nucor by 30.0% in the fourth quarter. Morgan Stanley now owns 4,247,626 shares of the basic materials company’s stock valued at $559,880,000 after purchasing an additional 979,824 shares during the last quarter. Northern Trust Corp lifted its position in Nucor by 3.7% in the third quarter. Northern Trust Corp now owns 4,175,571 shares of the basic materials company’s stock valued at $652,851,000 after purchasing an additional 149,589 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Nucor by 7.6% during the third quarter. Invesco Ltd. now owns 2,262,832 shares of the basic materials company’s stock valued at $353,794,000 after acquiring an additional 159,230 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Insider Activity

In other news, EVP Kenneth Rex Query sold 5,500 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the completion of the transaction, the executive vice president now directly owns 85,326 shares in the company, valued at $15,902,206.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Kenneth Rex Query sold 5,500 shares of Nucor stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $186.37, for a total value of $1,025,035.00. Following the completion of the sale, the executive vice president now directly owns 85,326 shares in the company, valued at approximately $15,902,206.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael D. Keller sold 3,145 shares of Nucor stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the completion of the sale, the insider now owns 24,873 shares of the company’s stock, valued at $4,817,153.91. The disclosure for this sale can be found here. Insiders sold 38,151 shares of company stock worth $7,308,683 over the last three months. 0.46% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NUE shares. Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and upped their target price for the company from $180.00 to $240.00 in a report on Wednesday, March 13th. StockNews.com upgraded Nucor from a “hold” rating to a “buy” rating in a report on Wednesday, April 10th. UBS Group started coverage on Nucor in a report on Tuesday, January 16th. They set a “buy” rating and a $210.00 target price for the company. Finally, JPMorgan Chase & Co. upped their target price on Nucor from $180.00 to $195.00 and gave the company a “neutral” rating in a report on Tuesday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Nucor has a consensus rating of “Moderate Buy” and a consensus target price of $192.83.

Nucor Price Performance

NUE opened at $191.36 on Friday. The stock has a fifty day simple moving average of $191.19 and a two-hundred day simple moving average of $173.57. The company has a current ratio of 3.57, a quick ratio of 2.35 and a debt-to-equity ratio of 0.30. The company has a market cap of $45.92 billion, a price-to-earnings ratio of 10.64 and a beta of 1.61. Nucor Co. has a 12-month low of $129.79 and a 12-month high of $203.00.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, January 29th. The basic materials company reported $3.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.33. Nucor had a return on equity of 21.42% and a net margin of 13.03%. The business had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.64 billion. During the same quarter in the prior year, the company earned $4.89 earnings per share. The firm’s quarterly revenue was down 11.7% compared to the same quarter last year. Research analysts predict that Nucor Co. will post 12.93 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.54 per share. The ex-dividend date is Wednesday, March 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.13%. Nucor’s payout ratio is presently 12.01%.

Nucor Company 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.