Butensky & Cohen Financial Security Inc. Has $3.14 Million Position in Nucor Co. (NYSE:NUE)

Butensky & Cohen Financial Security Inc. raised its holdings in shares of Nucor Co. (NYSE:NUE) by 5.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,875 shares of the basic materials company’s stock after purchasing an additional 1,374 shares during the quarter. Butensky & Cohen Financial Security Inc.’s holdings in Nucor were worth $3,137,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NUE. Widmann Financial Services Inc. raised its position in shares of Nucor by 4.0% during the third quarter. Widmann Financial Services Inc. now owns 1,800 shares of the basic materials company’s stock worth $271,000 after purchasing an additional 70 shares during the period. Brighton Jones LLC boosted its stake in Nucor by 3.3% during the 2nd quarter. Brighton Jones LLC now owns 2,218 shares of the basic materials company’s stock valued at $351,000 after purchasing an additional 71 shares during the last quarter. Salomon & Ludwin LLC boosted its stake in Nucor by 45.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 72 shares during the last quarter. First Trust Direct Indexing L.P. raised its stake in shares of Nucor by 1.4% in the third quarter. First Trust Direct Indexing L.P. now owns 5,467 shares of the basic materials company’s stock worth $822,000 after purchasing an additional 74 shares during the last quarter. Finally, Mirador Capital Partners LP lifted its holdings in shares of Nucor by 1.5% in the third quarter. Mirador Capital Partners LP now owns 5,250 shares of the basic materials company’s stock valued at $789,000 after purchasing an additional 77 shares in the last quarter. 76.48% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Allen C. Behr sold 4,968 shares of the business’s stock in a transaction on Monday, November 11th. The shares were 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 in the company, valued at $13,636,254.72. The trade was a 5.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Stephen D. Laxton sold 4,712 shares of the stock in a transaction on 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 in the company, valued at $13,923,837.96. This trade represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,680 shares of company stock worth $4,773,724 over the last ninety days. Company insiders own 0.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their price target on Nucor from $168.00 to $152.00 and set an “overweight” rating for the company in a report on Friday. Morgan Stanley lowered their target price on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Citigroup cut their target price on Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Jefferies Financial Group cut their price target on shares of Nucor from $150.00 to $125.00 and set a “hold” rating on the stock in a report on Monday, January 6th. Finally, 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. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Nucor currently has an average rating of “Moderate Buy” and an average price target of $163.63.

Nucor Stock Performance

NYSE NUE opened at $124.40 on Friday. The company’s 50 day moving average is $133.52 and its 200-day moving average is $144.57. The firm has a market cap of $29.21 billion, a P/E ratio of 12.02 and a beta of 1.60. Nucor Co. has a 12-month low of $112.25 and a 12-month high of $203.00. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26.

Nucor (NYSE:NUE) last posted its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.09. The firm had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The business’s quarterly revenue was down 15.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.57 earnings per share. Sell-side analysts predict that Nucor Co. will post 8.19 earnings per share for the current year.

Nucor Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Nucor’s previous quarterly dividend of $0.54. Nucor’s payout ratio is presently 21.26%.

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.