Castle Wealth Management LLC Boosts Holdings in Nucor Co. (NYSE:NUE)

Castle Wealth Management LLC increased its holdings in Nucor Co. (NYSE:NUE) by 7.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,986 shares of the basic materials company’s stock after buying an additional 196 shares during the quarter. Castle Wealth Management LLC’s holdings in Nucor were worth $521,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in NUE. Householder Group Estate & Retirement Specialist LLC bought a new stake in Nucor during the 3rd quarter worth approximately $25,000. Providence Capital Advisors LLC raised its stake in Nucor by 15,470.4% during the 1st quarter. Providence Capital Advisors LLC now owns 4,204 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 4,177 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in Nucor during the 1st quarter worth approximately $32,000. Valley National Advisers Inc. raised its stake in Nucor by 716.7% during the 4th quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 172 shares during the period. Finally, OFI Invest Asset Management bought a new stake in shares of Nucor during the third quarter valued at approximately $40,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on NUE. UBS Group began coverage on shares of Nucor in a research report on Tuesday, January 16th. They set a “buy” rating and a $210.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Nucor from $180.00 to $195.00 and gave the company a “neutral” rating in a research report on Tuesday. Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $180.00 to $240.00 in a research report on Wednesday, March 13th. Finally, StockNews.com upgraded shares of Nucor from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $192.83.

Insiders Place Their Bets

In other Nucor news, insider Michael D. Keller sold 3,145 shares of Nucor stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total transaction of $609,092.15. Following the completion of the transaction, the insider now directly owns 24,873 shares of the company’s stock, valued at $4,817,153.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Kenneth Rex Query sold 5,500 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the completion of the sale, the executive vice president now directly owns 85,326 shares of the company’s stock, valued at $15,902,206.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael D. Keller sold 3,145 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total transaction of $609,092.15. Following the sale, the insider now directly owns 24,873 shares of the company’s stock, valued at $4,817,153.91. The disclosure for this sale can be found here. Insiders sold 38,151 shares of company stock valued at $7,308,683 over the last three months. 0.46% of the stock is owned by company insiders.

Nucor Price Performance

NUE traded up $0.59 during trading hours on Friday, hitting $191.36. The company’s stock had a trading volume of 1,622,631 shares, compared to its average volume of 1,378,825. The business’s 50-day moving average price is $191.19 and its 200-day moving average price is $173.57. Nucor Co. has a 12 month low of $129.79 and a 12 month high of $203.00. The stock has a market cap of $45.92 billion, a price-to-earnings ratio of 10.64 and a beta of 1.61. The company has a current ratio of 3.57, a quick ratio of 2.35 and a debt-to-equity ratio of 0.30.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, January 29th. The basic materials company reported $3.16 EPS for the quarter, topping the consensus estimate of $2.83 by $0.33. The company had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.64 billion. Nucor had a net margin of 13.03% and a return on equity of 21.42%. Nucor’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.89 earnings per share. Sell-side analysts expect that Nucor Co. will post 13.03 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently disclosed 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. This represents a $2.16 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Wednesday, March 27th. Nucor’s payout ratio is 12.01%.

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.