Perigon Wealth Management LLC Sells 112 Shares of Nucor Co. (NYSE:NUE)

Perigon Wealth Management LLC trimmed its position in Nucor Co. (NYSE:NUE) by 5.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,793 shares of the basic materials company’s stock after selling 112 shares during the period. Perigon Wealth Management LLC’s holdings in Nucor were worth $221,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. State Street Corp grew its stake in shares of Nucor by 2.9% in the 3rd 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 period. National Pension Service grew its position in Nucor by 3.2% during the third quarter. National Pension Service now owns 652,502 shares of the basic materials company’s stock valued at $98,097,000 after buying an additional 20,258 shares during the period. Everence Capital Management Inc. bought a new position in Nucor during the fourth quarter valued at about $565,000. BIP Wealth LLC bought a new position in Nucor during the third quarter worth about $681,000. Finally, Geode Capital Management LLC raised its stake in shares of 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 valued at $883,732,000 after purchasing an additional 74,569 shares during the period. 76.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NUE shares. Morgan Stanley decreased their target price on Nucor from $166.00 to $154.00 and set an “overweight” rating on the stock in a research note on Monday. JPMorgan Chase & Co. dropped their target price on Nucor from $152.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. UBS Group reiterated a “neutral” rating and issued a $156.00 price objective (down previously from $171.00) on shares of Nucor in a report on Thursday, December 12th. The Goldman Sachs Group initiated coverage on Nucor in a research report on Monday, December 2nd. They issued a “buy” rating and a $190.00 target price for the company. Finally, Jefferies Financial Group increased their target price on Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. One investment 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’s stock. According to MarketBeat.com, Nucor has an average rating of “Moderate Buy” and an average price target of $163.13.

Insider Buying and Selling at Nucor

In other news, EVP Allen C. Behr sold 4,968 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $159.72, for a total value of $793,488.96. Following the completion of the sale, the executive vice president now owns 85,376 shares of the company’s stock, valued at $13,636,254.72. This trade represents a 5.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stephen D. Laxton sold 4,712 shares of Nucor stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total value of $798,825.36. Following the sale, the chief financial officer now directly owns 82,132 shares of the company’s stock, valued at approximately $13,923,837.96. This represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,680 shares of company stock worth $3,452,524 over the last ninety days. Company insiders own 0.64% of the company’s stock.

Nucor Stock Performance

NUE stock opened at $131.57 on Tuesday. The company has a market cap of $30.89 billion, a P/E ratio of 15.64 and a beta of 1.60. Nucor Co. has a 1 year low of $112.25 and a 1 year high of $203.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48. The stock’s fifty day moving average price is $128.47 and its 200-day moving average price is $142.05.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, beating the consensus estimate 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 company earned $3.16 EPS. On average, equities analysts forecast that Nucor Co. will post 7.88 earnings per share for the current year.

Nucor Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.55 per share. The ex-dividend date is Tuesday, December 31st. This is a positive change from Nucor’s previous quarterly dividend of $0.54. This represents a $2.20 dividend on an annualized basis and a yield of 1.67%. Nucor’s dividend payout ratio is presently 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.