Seamount Financial Group Inc. Cuts Stake in Nucor Co. (NYSE:NUE)

Seamount Financial Group Inc. lessened its holdings in shares of Nucor Co. (NYSE:NUE) by 13.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,527 shares of the basic materials company’s stock after selling 400 shares during the quarter. Seamount Financial Group Inc.’s holdings in Nucor were worth $295,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp raised its stake 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 buying an additional 326,181 shares during the last quarter. National Pension Service raised its position in shares of Nucor by 3.2% in the 3rd 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. acquired a new stake in Nucor in the 4th quarter worth approximately $565,000. BIP Wealth LLC acquired a new stake in Nucor in the 3rd quarter worth approximately $681,000. Finally, Geode Capital Management LLC grew its position in Nucor by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,861,945 shares of the basic materials company’s stock worth $883,732,000 after purchasing an additional 74,569 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Activity at Nucor

In related news, EVP Allen C. Behr sold 4,968 shares of Nucor stock in a transaction on Monday, November 11th. The shares were sold at an average price of $159.72, for a total value of $793,488.96. Following the sale, the executive vice president now owns 85,376 shares of the company’s stock, valued at approximately $13,636,254.72. This trade represents a 5.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.64% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NUE shares. The Goldman Sachs Group started coverage on shares of Nucor in a research note on Monday, December 2nd. They set a “buy” rating and a $190.00 price objective for the company. Jefferies Financial Group boosted their price target on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Morgan Stanley reduced their price objective on Nucor from $166.00 to $154.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. UBS Group reaffirmed 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. Finally, Citigroup cut their price target on shares of Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $163.13.

Nucor Trading Down 2.3 %

Nucor stock opened at $130.18 on Friday. The firm has a market cap of $30.57 billion, a PE ratio of 15.48 and a beta of 1.60. Nucor Co. has a 12 month low of $112.25 and a 12 month high of $203.00. The stock’s 50 day simple moving average is $126.70 and its two-hundred day simple moving average is $141.47. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.28. Nucor had a net margin of 6.60% and a return on equity of 9.85%. During the same quarter in the prior year, the firm earned $3.16 EPS. Analysts anticipate that Nucor Co. will post 7.88 earnings per share for the current year.

Nucor Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.55 per share. The ex-dividend date is Tuesday, December 31st. This is a boost from Nucor’s previous quarterly dividend of $0.54. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.69%. Nucor’s dividend payout ratio (DPR) is 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.