Trinity Legacy Partners LLC Lowers Holdings in Nucor Co. (NYSE:NUE)

Trinity Legacy Partners LLC reduced its stake in shares of Nucor Co. (NYSE:NUE) by 26.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 12,548 shares of the basic materials company’s stock after selling 4,624 shares during the period. Trinity Legacy Partners LLC’s holdings in Nucor were worth $1,464,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new stake in Nucor during the third quarter worth about $26,000. Coastline Trust Co purchased a new stake in Nucor in the 3rd quarter worth approximately $29,000. Crews Bank & Trust acquired a new stake in shares of Nucor during the 4th quarter worth approximately $29,000. New Wave Wealth Advisors LLC purchased a new position in shares of Nucor during the 4th quarter valued at approximately $33,000. Finally, Salomon & Ludwin LLC lifted its stake in shares of Nucor by 45.6% in 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 period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Stock Performance

Shares of NYSE:NUE opened at $140.10 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48. Nucor Co. has a 1 year low of $112.25 and a 1 year high of $203.00. The firm has a market capitalization of $32.90 billion, a PE ratio of 16.66, a P/E/G ratio of 0.96 and a beta of 1.60. The business’s 50 day moving average price is $124.82 and its 200-day moving average price is $139.99.

Nucor (NYSE:NUE) last announced its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.28. Nucor had a net margin of 6.60% and a return on equity of 9.85%. During the same quarter in the previous year, the firm posted $3.16 EPS. As a group, equities research analysts expect that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.20 annualized dividend and a yield of 1.57%. Nucor’s dividend payout ratio is presently 26.16%.

Wall Street Analyst Weigh In

Several analysts recently commented on NUE shares. The Goldman Sachs Group assumed coverage on shares of Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 price target on the stock. Jefferies Financial Group lifted their price target on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. UBS Group reiterated a “neutral” rating and set a $156.00 price target (down previously from $171.00) on shares of Nucor in a research report on Thursday, December 12th. JPMorgan Chase & Co. cut their price objective on Nucor from $152.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Finally, Citigroup decreased their target price on Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.13.

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.