Nucor Co. (NYSE:NUE) Shares Purchased by Duncan Williams Asset Management LLC

Duncan Williams Asset Management LLC lifted its position in shares of Nucor Co. (NYSE:NUE) by 49.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,705 shares of the basic materials company’s stock after buying an additional 900 shares during the quarter. Duncan Williams Asset Management LLC’s holdings in Nucor were worth $316,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Nucor by 2.9% during the third quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock worth $1,724,117,000 after buying an additional 326,181 shares in the last quarter. National Pension Service grew its stake in shares of 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 in the last quarter. Everence Capital Management Inc. acquired a new position in shares of Nucor in the 4th quarter valued at approximately $565,000. BIP Wealth LLC acquired a new stake in Nucor in the third quarter valued at approximately $681,000. Finally, Ascension Asset Management LLC acquired a new position in Nucor in the 2nd quarter valued at approximately $885,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NUE shares. 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. UBS Group restated a “neutral” rating and issued a $156.00 target price (down previously from $171.00) on shares of Nucor in a research note on Thursday, December 12th. JPMorgan Chase & Co. lowered their price target on Nucor from $168.00 to $152.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Citigroup decreased their target price on shares of Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group initiated coverage on Nucor in a research report on Monday, December 2nd. They issued a “buy” rating and a $190.00 target price on the stock. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $163.63.

Insider Activity

In other news, CFO Stephen D. Laxton sold 4,712 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total transaction of $798,825.36. Following the sale, the chief financial officer now owns 82,132 shares in the company, valued at $13,923,837.96. This represents a 5.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Leon J. Topalian sold 11,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total value of $1,860,210.00. Following the completion of the sale, the chief executive officer now owns 172,136 shares in the company, valued at approximately $29,109,918.96. This trade represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,680 shares of company stock worth $4,773,724. Company insiders own 0.46% of the company’s stock.

Nucor Trading Up 0.1 %

Nucor stock opened at $122.19 on Friday. 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 stock has a market cap of $28.69 billion, a P/E ratio of 11.81 and a beta of 1.60. The company’s fifty day simple moving average is $130.66 and its 200-day simple moving average is $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 disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders 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 dividend yield of 1.80%. This is an increase from Nucor’s previous quarterly dividend of $0.54. The ex-dividend date is Tuesday, December 31st. 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.