Forza Wealth Management LLC Sells 100 Shares of Nucor Co. (NYSE:NUE)

Forza Wealth Management LLC cut its stake in shares of Nucor Co. (NYSE:NUE) by 1.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,481 shares of the basic materials company’s stock after selling 100 shares during the quarter. Forza Wealth Management LLC’s holdings in Nucor were worth $1,283,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Nilsine Partners LLC grew its holdings in shares of Nucor by 5.2% during the 1st quarter. Nilsine Partners LLC now owns 1,307 shares of the basic materials company’s stock valued at $259,000 after purchasing an additional 65 shares during the last quarter. Sollinda Capital Management LLC acquired a new stake in Nucor during the 1st quarter worth about $269,000. Raymond James & Associates raised its position in shares of Nucor by 15.2% in the 1st quarter. Raymond James & Associates now owns 187,144 shares of the basic materials company’s stock worth $37,036,000 after acquiring an additional 24,728 shares in the last quarter. Accordant Advisory Group Inc bought a new position in shares of Nucor in the 1st quarter worth about $1,534,000. Finally, American National Bank & Trust Co. VA bought a new position in shares of Nucor in the 1st quarter worth about $325,000. 76.48% of the stock is owned by institutional investors.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Douglas J. Jellison sold 19,506 shares of Nucor stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the completion of the transaction, the executive vice president now owns 120,738 shares in the company, valued at approximately $23,351,936.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Michael D. Keller sold 3,145 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the transaction, the insider now owns 24,873 shares in the company, valued at approximately $4,817,153.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Douglas J. Jellison sold 19,506 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.41, for a total value of $3,772,655.46. Following the completion of the transaction, the executive vice president now owns 120,738 shares in the company, valued at approximately $23,351,936.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,151 shares of company stock worth $7,308,683. Insiders own 0.64% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on NUE. JPMorgan Chase & Co. lowered their price objective on Nucor from $195.00 to $190.00 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. BMO Capital Markets lowered their price objective on Nucor from $210.00 to $200.00 and set a “market perform” rating for the company in a research report on Wednesday, April 24th. StockNews.com lowered Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. UBS Group began coverage on Nucor in a research report on Tuesday, January 16th. They issued a “buy” rating and a $210.00 price objective for the company. Finally, Citigroup raised Nucor from a “neutral” rating to a “buy” rating and boosted their target price for the company from $180.00 to $240.00 in a research report on Wednesday, March 13th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $193.14.

Nucor Stock Down 0.1 %

Nucor stock traded down $0.18 during midday trading on Monday, reaching $175.24. The stock had a trading volume of 1,198,739 shares, compared to its average volume of 1,438,269. The company has a market capitalization of $42.05 billion, a P/E ratio of 10.31 and a beta of 1.61. The company has a current ratio of 4.02, a quick ratio of 2.48 and a debt-to-equity ratio of 0.31. Nucor Co. has a 12 month low of $129.79 and a 12 month high of $203.00. The company has a fifty day moving average price of $190.42 and a two-hundred day moving average price of $174.78.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). The company had revenue of $8.14 billion for the quarter, compared to analyst estimates of $8.26 billion. Nucor had a net margin of 12.40% and a return on equity of 19.62%. Nucor’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $4.45 EPS. As a group, equities analysts expect that Nucor Co. will post 12.5 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.54 per share. The ex-dividend date is Wednesday, March 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.23%. Nucor’s dividend payout ratio (DPR) is currently 12.71%.

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.