Arkfeld Wealth Strategies L.L.C. Has $949,000 Stock Position in Nucor Co. (NYSE:NUE)

Arkfeld Wealth Strategies L.L.C. lifted its holdings in shares of Nucor Co. (NYSE:NUE) by 7.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,721 shares of the basic materials company’s stock after buying an additional 509 shares during the period. Arkfeld Wealth Strategies L.L.C.’s holdings in Nucor were worth $949,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of NUE. Mizuho Securities USA LLC lifted its stake in shares of Nucor by 8,530.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 1,595,179 shares of the basic materials company’s stock valued at $239,819,000 after purchasing an additional 1,576,695 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Nucor by 19.8% in the 3rd quarter. Pacer Advisors Inc. now owns 3,456,484 shares of the basic materials company’s stock valued at $519,648,000 after purchasing an additional 571,682 shares during the period. Ceredex Value Advisors LLC acquired a new position in shares of Nucor in the 3rd quarter valued at about $74,829,000. Nordea Investment Management AB lifted its stake in shares of Nucor by 25.6% in the 4th quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company’s stock valued at $205,282,000 after purchasing an additional 358,721 shares during the period. Finally, State Street Corp lifted 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 purchasing an additional 326,181 shares during the period. Institutional investors own 76.48% of the company’s stock.

Insider Activity

In other Nucor news, EVP Allen C. Behr sold 4,968 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $159.72, for a total transaction of $793,488.96. Following the completion of 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 represents a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stephen D. Laxton sold 4,712 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total value of $798,825.36. Following the transaction, the chief financial officer now directly owns 82,132 shares of the company’s stock, valued at approximately $13,923,837.96. This trade represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,680 shares of company stock valued at $4,773,724 over the last three months. Corporate insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Jefferies Financial Group dropped their price objective on Nucor from $150.00 to $125.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. JPMorgan Chase & Co. dropped their price target on Nucor from $168.00 to $152.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Citigroup dropped their price target on Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Morgan Stanley dropped their price target on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group began coverage on Nucor in a research note on Monday, December 2nd. They set a “buy” rating and a $190.00 price target on the stock. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $163.63.

Nucor Stock Performance

NUE stock opened at $122.19 on Friday. The firm has a market cap of $28.69 billion, a PE ratio of 11.81 and a beta of 1.60. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. The business has a 50 day moving average of $130.66 and a 200-day moving average of $143.46. Nucor Co. has a 12-month low of $112.25 and a 12-month high of $203.00.

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 issued a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Nucor’s previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a dividend yield of 1.80%. Nucor’s dividend payout ratio is currently 21.26%.

Nucor Company 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.