Prime Capital Investment Advisors LLC Cuts Stake in Nucor Co. (NYSE:NUE)

Prime Capital Investment Advisors LLC lowered its position in shares of Nucor Co. (NYSE:NUE) by 27.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,800 shares of the basic materials company’s stock after selling 1,415 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Nucor were worth $661,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of Nucor during the third quarter valued at $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in shares of Nucor during the first quarter valued at $32,000. VisionPoint Advisory Group LLC purchased a new position in Nucor in the second quarter valued at about $39,000. Exchange Traded Concepts LLC grew its stake in Nucor by 2,410.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 251 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 241 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new position in Nucor in the third quarter valued at about $40,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

NUE has been the topic of several analyst reports. Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and lifted their target price for the company from $180.00 to $240.00 in a research note on Wednesday, March 13th. StockNews.com upgraded Nucor from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, UBS Group initiated coverage on Nucor in a research note on Tuesday, January 16th. They issued a “buy” rating and a $210.00 target price on the stock. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $186.67.

Insider Buying and Selling at Nucor

In other news, EVP Kenneth Rex Query sold 5,500 shares of the business’s stock in a transaction that occurred on 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 $15,902,206.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Kenneth Rex Query sold 5,500 shares of the business’s stock in a transaction that occurred on 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 $15,902,206.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Douglas J. Jellison sold 19,506 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $193.41, for a total value of $3,772,655.46. Following the completion of the sale, the executive vice president now owns 120,738 shares of the company’s stock, valued at $23,351,936.58. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,151 shares of company stock valued at $7,308,683. 0.64% of the stock is owned by company insiders.

Nucor Trading Down 0.9 %

Nucor stock opened at $198.18 on Thursday. 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 Co. has a 52 week low of $129.79 and a 52 week high of $203.00. The company has a market capitalization of $47.56 billion, a price-to-earnings ratio of 11.02 and a beta of 1.61. The stock has a 50-day moving average price of $189.96 and a 200 day moving average price of $171.84.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, January 29th. The basic materials company reported $3.16 earnings per share (EPS) for the quarter, beating 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 company had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.64 billion. During the same period in the previous year, the company posted $4.89 earnings per share. Nucor’s revenue for the quarter was down 11.7% on a year-over-year basis. Sell-side analysts anticipate that Nucor Co. will post 13 EPS for the current year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders 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 yield of 1.09%. The ex-dividend date of this dividend is Wednesday, March 27th. Nucor’s payout ratio is presently 12.01%.

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.