Ballentine Partners LLC Sells 213 Shares of Nucor Co. (NYSE:NUE)

Ballentine Partners LLC cut its stake in shares of Nucor Co. (NYSE:NUE) by 11.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,729 shares of the basic materials company’s stock after selling 213 shares during the quarter. Ballentine Partners LLC’s holdings in Nucor were worth $202,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. State Street Corp boosted its position in shares of Nucor by 2.9% during the 3rd quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock worth $1,724,117,000 after purchasing an additional 326,181 shares in the last quarter. National Pension Service grew its stake in Nucor by 3.2% in the third quarter. National Pension Service now owns 652,502 shares of the basic materials company’s stock valued at $98,097,000 after acquiring an additional 20,258 shares during the period. Everence Capital Management Inc. bought a new stake in shares of Nucor during the fourth quarter valued at approximately $565,000. BIP Wealth LLC acquired a new position in shares of Nucor during the third quarter worth approximately $681,000. Finally, Ascension Asset Management LLC bought a new position in shares of Nucor in the 2nd quarter worth $885,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Stephen D. Laxton sold 4,712 shares of the business’s 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 completion of the sale, the chief financial officer now owns 82,132 shares of the company’s stock, valued at approximately $13,923,837.96. The trade was a 5.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Leon J. Topalian sold 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total value of $1,860,210.00. Following the transaction, the chief executive officer now owns 172,136 shares in the company, valued at approximately $29,109,918.96. The trade was a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,680 shares of company stock valued at $4,773,724 over the last three months. Insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. UBS Group restated a “neutral” rating and set a $156.00 price objective (down previously from $171.00) on shares of Nucor in a report on Thursday, December 12th. Morgan Stanley dropped their price target on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Jefferies Financial Group decreased their price objective on Nucor from $150.00 to $125.00 and set a “hold” rating for the company in a report on Monday, January 6th. The Goldman Sachs Group started coverage on Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered their price target on Nucor from $168.00 to $152.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Nucor currently has an average rating of “Moderate Buy” and a consensus price target of $163.63.

Nucor Stock Up 0.1 %

Shares of NYSE NUE opened at $122.19 on Friday. The stock has a market capitalization of $28.69 billion, a P/E ratio of 11.81 and a beta of 1.60. Nucor Co. has a one year low of $112.25 and a one year high of $203.00. The firm’s 50 day simple moving average is $130.66 and its two-hundred day simple moving average is $143.46. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61.

Nucor Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Tuesday, December 31st will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Nucor’s previous quarterly dividend of $0.54. Nucor’s dividend payout ratio (DPR) is presently 21.26%.

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.