Strid Group LLC Has $6.39 Million Stock Holdings in Nucor Co. (NYSE:NUE)

Strid Group LLC lessened its stake in shares of Nucor Co. (NYSE:NUE) by 5.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,762 shares of the basic materials company’s stock after selling 3,380 shares during the period. Nucor comprises 1.0% of Strid Group LLC’s investment portfolio, making the stock its 11th largest holding. Strid Group LLC’s holdings in Nucor were worth $6,391,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in Nucor in the third quarter worth approximately $26,000. Coastline Trust Co acquired a new position in Nucor during the third quarter worth $29,000. Crews Bank & Trust bought a new position in Nucor during the fourth quarter valued at about $29,000. Brown Lisle Cummings Inc. acquired a new stake in shares of Nucor in the third quarter worth about $30,000. Finally, New Wave Wealth Advisors LLC bought a new stake in shares of Nucor during the 4th quarter worth about $33,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NUE has been the subject of several analyst reports. Morgan Stanley reduced their target price on Nucor from $166.00 to $154.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. JPMorgan Chase & Co. cut their target price on shares of Nucor from $152.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Citigroup lowered their price target on Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. UBS Group restated a “neutral” rating and set a $156.00 target price (down previously from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Finally, StockNews.com lowered Nucor from a “hold” rating to a “sell” rating in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $163.13.

Insider Buying and Selling at Nucor

In related news, EVP Allen C. Behr sold 4,968 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $159.72, for a total transaction of $793,488.96. Following the transaction, the executive vice president now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.46% of the company’s stock.

Nucor Trading Down 2.3 %

NYSE NUE opened at $130.18 on Friday. The stock has a 50-day simple moving average of $126.70 and a 200 day simple moving average of $141.47. Nucor Co. has a 12 month low of $112.25 and a 12 month high of $203.00. The company has a market capitalization of $30.57 billion, a PE ratio of 15.48 and a beta of 1.60. 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 posted its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.28. Nucor had a return on equity of 9.85% and a net margin of 6.60%. During the same quarter in the previous year, the company earned $3.16 earnings per share. Research analysts forecast that Nucor Co. will post 7.88 EPS for the current year.

Nucor Increases Dividend

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