Segment Wealth Management LLC Sells 213 Shares of Nucor Co. (NYSE:NUE)

Segment Wealth Management LLC trimmed its position in shares of Nucor Co. (NYSE:NUE) by 9.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,008 shares of the basic materials company’s stock after selling 213 shares during the quarter. Segment Wealth Management LLC’s holdings in Nucor were worth $302,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Eastern Bank boosted its stake in Nucor by 37.7% in the third quarter. Eastern Bank now owns 2,008 shares of the basic materials company’s stock valued at $302,000 after acquiring an additional 550 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Nucor by 3.2% during the 3rd quarter. Signaturefd LLC now owns 6,254 shares of the basic materials company’s stock valued at $940,000 after purchasing an additional 193 shares during the last quarter. DeDora Capital Inc. boosted its position in shares of Nucor by 4.6% in the 3rd quarter. DeDora Capital Inc. now owns 3,031 shares of the basic materials company’s stock worth $456,000 after purchasing an additional 134 shares in the last quarter. Grace & White Inc. NY grew its stake in Nucor by 1.9% during the 3rd quarter. Grace & White Inc. NY now owns 109,239 shares of the basic materials company’s stock worth $16,423,000 after buying an additional 2,012 shares during the last quarter. Finally, Waterway Wealth Management LLC increased its position in Nucor by 7.6% during the 3rd quarter. Waterway Wealth Management LLC now owns 3,740 shares of the basic materials company’s stock valued at $562,000 after buying an additional 264 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NUE. Morgan Stanley lowered their price target on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a report on Wednesday. JPMorgan Chase & Co. dropped their target price on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research report on Wednesday. BMO Capital Markets decreased their price target on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. Bank of America dropped their price objective on shares of Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Finally, Argus upgraded Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Three 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $190.57.

Insider Activity at Nucor

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total value of $1,379,840.00. Following the completion of the transaction, the executive vice president now owns 99,049 shares in the company, valued at approximately $15,847,840. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.46% of the stock is owned by company insiders.

Nucor Price Performance

NYSE:NUE opened at $141.66 on Thursday. The firm’s fifty day moving average is $147.81 and its two-hundred day moving average is $159.39. The firm has a market cap of $33.96 billion, a price-to-earnings ratio of 8.33 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.85 and a current ratio of 2.93. Nucor Co. has a one year low of $133.42 and a one year high of $203.00.

Nucor (NYSE:NUE) last issued its earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.09. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The firm had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.28 billion. During the same quarter in the prior year, the business earned $4.57 earnings per share. The company’s revenue was down 15.2% compared to the same quarter last year. Research analysts expect that Nucor Co. will post 9.08 EPS for the current year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Friday, September 27th. Nucor’s dividend payout ratio (DPR) is presently 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.