Institute for Wealth Management LLC. Has $709,000 Position in Nucor Co. (NYSE:NUE)

Institute for Wealth Management LLC. lowered its position in shares of Nucor Co. (NYSE:NUE) by 16.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,071 shares of the basic materials company’s stock after selling 777 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Nucor were worth $709,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Fairfield Bush & CO. acquired a new position in shares of Nucor in the first quarter valued at approximately $48,000. Synovus Financial Corp boosted its holdings in shares of Nucor by 150.6% in the first quarter. Synovus Financial Corp now owns 7,198 shares of the basic materials company’s stock valued at $1,067,000 after buying an additional 4,326 shares during the period. Sei Investments Co. boosted its holdings in shares of Nucor by 106.2% in the first quarter. Sei Investments Co. now owns 35,889 shares of the basic materials company’s stock valued at $5,328,000 after buying an additional 18,488 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of Nucor in the first quarter valued at approximately $284,000. Finally, Brighton Jones LLC acquired a new position in shares of Nucor in the first quarter valued at approximately $222,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on NUE. Citigroup raised shares of Nucor from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. StockNews.com raised shares of Nucor from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. boosted their price objective on shares of Nucor from $180.00 to $195.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, UBS Group started coverage on shares of Nucor in a research report on Tuesday, January 16th. They issued a “buy” rating and a $210.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Nucor presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.83.

Insiders Place Their Bets

In other news, insider Michael D. Keller sold 3,145 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total value of $609,092.15. Following the sale, the insider now directly owns 24,873 shares in the company, valued at approximately $4,817,153.91. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Douglas J. Jellison sold 19,506 shares of the firm’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 sale, the executive vice president now directly owns 120,738 shares in the company, valued at approximately $23,351,936.58. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael D. Keller sold 3,145 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total transaction of $609,092.15. Following the completion of the sale, the insider now owns 24,873 shares in the company, valued at $4,817,153.91. The disclosure for this sale can be found here. Insiders have sold 38,151 shares of company stock worth $7,308,683 over the last ninety days. Corporate insiders own 0.46% of the company’s stock.

Nucor Trading Up 0.3 %

NUE stock opened at $191.36 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.35 and a current ratio of 3.57. The company’s 50-day simple moving average is $191.19 and its 200 day simple moving average is $173.57. 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 $45.92 billion, a PE ratio of 10.64 and a beta of 1.61.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, January 29th. The basic materials company reported $3.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.33. The firm had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.64 billion. Nucor had a net margin of 13.03% and a return on equity of 21.42%. The business’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same period in the prior year, the company posted $4.89 earnings per share. As a group, sell-side analysts anticipate that Nucor Co. will post 12.93 earnings per share for the current year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.54 per share. The ex-dividend date is Wednesday, March 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.13%. Nucor’s payout ratio is 12.01%.

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.