Nucor Co. (NYSE:NUE) Shares Sold by Imprint Wealth LLC

Imprint Wealth LLC trimmed its holdings in shares of Nucor Co. (NYSE:NUE) by 20.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,039 shares of the basic materials company’s stock after selling 519 shares during the quarter. Imprint Wealth LLC’s holdings in Nucor were worth $356,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Moneta Group Investment Advisors LLC grew its position in Nucor by 127,059.1% in the 4th 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 acquiring an additional 155,109,984 shares in the last quarter. Geode Capital Management LLC grew its position in Nucor by 0.4% in the 1st quarter. Geode Capital Management LLC now owns 5,438,353 shares of the basic materials company’s stock valued at $841,209,000 after acquiring an additional 23,366 shares in the last quarter. Morgan Stanley grew its position in Nucor by 30.0% in the 4th quarter. Morgan Stanley now owns 4,247,626 shares of the basic materials company’s stock valued at $559,880,000 after acquiring an additional 979,824 shares in the last quarter. Northern Trust Corp grew its position in Nucor by 3.7% in the 3rd quarter. Northern Trust Corp now owns 4,175,571 shares of the basic materials company’s stock valued at $652,851,000 after acquiring an additional 149,589 shares in the last quarter. Finally, Invesco Ltd. grew its position in Nucor by 7.6% in the 3rd 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. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor Stock Performance

NUE traded down $1.24 during trading on Tuesday, hitting $192.77. 333,465 shares of the stock were exchanged, compared to its average volume of 1,371,781. The firm has a market capitalization of $46.26 billion, a P/E ratio of 10.55 and a beta of 1.61. Nucor Co. has a 1-year low of $129.79 and a 1-year high of $203.00. The stock has a fifty day moving average price of $190.66 and a two-hundred day moving average price of $172.81. The company has a quick ratio of 2.35, a current ratio of 3.57 and a debt-to-equity ratio of 0.30.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, January 29th. The basic materials company reported $3.16 EPS for the quarter, topping the consensus estimate of $2.83 by $0.33. The company had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.64 billion. Nucor had a return on equity of 21.42% and a net margin of 13.03%. The firm’s revenue was down 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.89 earnings per share. As a group, sell-side analysts predict that Nucor Co. will post 13 earnings per share for the current year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, March 28th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Wednesday, March 27th. Nucor’s payout ratio is currently 12.01%.

Wall Street Analysts Forecast Growth

NUE has been the subject of several research reports. JPMorgan Chase & Co. lifted their target price on Nucor from $180.00 to $195.00 and gave the company a “neutral” rating in a research report on Tuesday. Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $180.00 to $240.00 in a research note on Wednesday, March 13th. UBS Group began coverage on Nucor in a research note on Tuesday, January 16th. They set a “buy” rating and a $210.00 target price for the company. Finally, StockNews.com upgraded Nucor from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $192.83.

Insider Activity

In other news, insider Michael D. Keller sold 3,145 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the transaction, the insider now owns 24,873 shares of the company’s stock, valued at $4,817,153.91. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Michael D. Keller sold 3,145 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total transaction of $609,092.15. Following the transaction, the insider now owns 24,873 shares of the company’s stock, valued at $4,817,153.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kenneth Rex Query sold 5,500 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,151 shares of company stock valued at $7,308,683. Company insiders own 0.64% of the company’s stock.

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.