Nucor Corporation $NUE Stock Position Decreased by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC trimmed its position in shares of Nucor Corporation (NYSE:NUE) by 9.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,982 shares of the basic materials company’s stock after selling 307 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Nucor were worth $386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in NUE. Matrix Trust Co raised its holdings in shares of Nucor by 53.8% during the 2nd quarter. Matrix Trust Co now owns 240 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 84 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Nucor by 81.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 153 shares during the last quarter. Spirit of America Management Corp NY bought a new stake in Nucor during the 1st quarter valued at approximately $48,000. Meeder Asset Management Inc. grew its holdings in Nucor by 209.6% in the 1st quarter. Meeder Asset Management Inc. now owns 418 shares of the basic materials company’s stock valued at $50,000 after buying an additional 283 shares during the last quarter. Finally, Putney Financial Group LLC grew its holdings in Nucor by 86.8% in the 1st quarter. Putney Financial Group LLC now owns 467 shares of the basic materials company’s stock valued at $56,000 after buying an additional 217 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Buying and Selling at Nucor

In related news, EVP Allen C. Behr sold 8,021 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $143.38, for a total transaction of $1,150,050.98. Following the completion of the transaction, the executive vice president owned 82,703 shares in the company, valued at $11,857,956.14. This trade represents a 8.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael D. Keller sold 6,088 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $148.41, for a total value of $903,520.08. Following the completion of the sale, the insider owned 22,464 shares in the company, valued at $3,333,882.24. This trade represents a 21.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,309 shares of company stock worth $4,553,771 in the last three months. 0.46% of the stock is currently owned by company insiders.

Nucor Stock Performance

NUE opened at $131.70 on Friday. The stock’s 50 day simple moving average is $140.92 and its 200-day simple moving average is $129.72. The company has a current ratio of 2.83, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31. The stock has a market cap of $30.23 billion, a PE ratio of 23.77, a P/E/G ratio of 0.94 and a beta of 1.75. Nucor Corporation has a 1 year low of $97.59 and a 1 year high of $170.52.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, July 28th. The basic materials company reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.06. Nucor had a net margin of 4.21% and a return on equity of 6.65%. The firm had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.47 billion. During the same quarter in the previous year, the company earned $2.68 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. Sell-side analysts forecast that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 30th. Nucor’s dividend payout ratio is 39.71%.

Analyst Upgrades and Downgrades

NUE has been the subject of a number of research analyst reports. Bank of America upped their price target on Nucor from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Jefferies Financial Group upgraded shares of Nucor from a “hold” rating to a “buy” rating and upped their target price for the company from $135.00 to $170.00 in a research note on Thursday, July 31st. Wells Fargo & Company reduced their price target on shares of Nucor from $146.00 to $140.00 and set an “equal weight” rating for the company in a report on Thursday, September 18th. The Goldman Sachs Group dropped their price objective on shares of Nucor from $182.00 to $173.00 and set a “buy” rating on the stock in a report on Monday, September 22nd. Finally, JPMorgan Chase & Co. increased their target price on shares of Nucor from $165.00 to $172.00 and gave the company an “overweight” rating in a research note on Monday, October 13th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $157.60.

Nucor Company 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.