Global Retirement Partners LLC Sells 114 Shares of Nucor Co. (NYSE:NUE)

Global Retirement Partners LLC lowered its stake in shares of Nucor Co. (NYSE:NUE) by 4.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,621 shares of the basic materials company’s stock after selling 114 shares during the quarter. Global Retirement Partners LLC’s holdings in Nucor were worth $394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Good Life Advisors LLC boosted its position in Nucor by 13.5% during the third quarter. Good Life Advisors LLC now owns 1,597 shares of the basic materials company’s stock valued at $240,000 after purchasing an additional 190 shares in the last quarter. SPC Financial Inc. boosted its holdings in Nucor by 1.7% in the third quarter. SPC Financial Inc. now owns 9,051 shares of the basic materials company’s stock worth $1,361,000 after acquiring an additional 154 shares in the last quarter. Touchstone Capital Inc. boosted its holdings in Nucor by 6.4% in the third quarter. Touchstone Capital Inc. now owns 26,697 shares of the basic materials company’s stock worth $4,014,000 after acquiring an additional 1,615 shares in the last quarter. Sumitomo Life Insurance Co. boosted its holdings in Nucor by 3.0% in the third quarter. Sumitomo Life Insurance Co. now owns 6,480 shares of the basic materials company’s stock worth $974,000 after acquiring an additional 189 shares in the last quarter. Finally, Ullmann Wealth Partners Group LLC acquired a new stake in Nucor in the third quarter worth about $831,000. Institutional investors own 76.48% of the company’s stock.

Wall Street Analysts Forecast Growth

NUE has been the subject of several recent analyst reports. Bank of America lowered their price target on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. BMO Capital Markets lowered their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. JPMorgan Chase & Co. lowered their price target on Nucor from $174.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Morgan Stanley lowered their price target on Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. Finally, Argus upgraded Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $191.43.

Insider Activity at Nucor

In related news, EVP Daniel R. Needham sold 8,624 shares of Nucor stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the completion of the transaction, the executive vice president now directly owns 99,049 shares in the company, valued at approximately $15,847,840. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.46% of the stock is owned by company insiders.

Nucor Trading Down 1.3 %

Shares of NYSE:NUE opened at $156.11 on Tuesday. Nucor Co. has a 52-week low of $133.42 and a 52-week high of $203.00. The stock has a market cap of $37.43 billion, a price-to-earnings ratio of 9.18 and a beta of 1.55. The company has a quick ratio of 1.85, a current ratio of 2.93 and a debt-to-equity ratio of 0.26. The business has a 50-day moving average price of $147.74 and a 200-day moving average price of $159.90.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.37. The company had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $7.69 billion. Nucor had a return on equity of 15.69% and a net margin of 10.45%. Nucor’s quarterly revenue was down 15.2% on a year-over-year basis. During the same period last year, the business earned $5.81 earnings per share. Equities analysts predict that Nucor Co. will post 9.08 EPS for the current year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Friday, September 27th. Nucor’s dividend payout ratio is currently 12.71%.

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.