Provence Wealth Management Group Sells 142 Shares of Nucor Co. (NYSE:NUE)

Provence Wealth Management Group lessened its stake in shares of Nucor Co. (NYSE:NUE) by 10.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,209 shares of the basic materials company’s stock after selling 142 shares during the period. Provence Wealth Management Group’s holdings in Nucor were worth $210,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in NUE. SVB Wealth LLC increased its stake in Nucor by 6.1% during the 3rd quarter. SVB Wealth LLC now owns 3,602 shares of the basic materials company’s stock worth $563,000 after acquiring an additional 206 shares during the period. Raymond James & Associates boosted its holdings in shares of Nucor by 7.9% in the 3rd quarter. Raymond James & Associates now owns 182,200 shares of the basic materials company’s stock valued at $28,487,000 after purchasing an additional 13,287 shares in the last quarter. Stratos Wealth Partners LTD. boosted its holdings in shares of Nucor by 26.0% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 7,473 shares of the basic materials company’s stock valued at $1,168,000 after purchasing an additional 1,544 shares in the last quarter. Mn Services Vermogensbeheer B.V. grew its holdings in shares of Nucor by 1.2% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 121,381 shares of the basic materials company’s stock valued at $18,978,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Beacon Financial Advisory LLC increased its position in Nucor by 4.4% during the 3rd quarter. Beacon Financial Advisory LLC now owns 6,053 shares of the basic materials company’s stock worth $946,000 after purchasing an additional 253 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their target price on shares of Nucor from $195.00 to $190.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. StockNews.com downgraded shares of Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. BMO Capital Markets lowered their price target on shares of Nucor from $210.00 to $200.00 and set a “market perform” rating for the company in a report on Wednesday, April 24th. Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and upped their price target for the stock from $180.00 to $240.00 in a report on Wednesday, March 13th. Finally, UBS Group assumed coverage on shares of Nucor in a report on Tuesday, January 16th. They set a “buy” rating and a $210.00 price target for the company. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $193.14.

Nucor Trading Up 2.0 %

NYSE NUE traded up $3.40 on Friday, reaching $173.92. The company had a trading volume of 1,054,672 shares, compared to its average volume of 1,443,490. The firm has a market cap of $41.74 billion, a price-to-earnings ratio of 10.23 and a beta of 1.65. Nucor Co. has a fifty-two week low of $129.79 and a fifty-two week high of $203.00. The business has a 50 day moving average of $189.47 and a two-hundred day moving average of $174.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.02 and a quick ratio of 2.48.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, April 22nd. The basic materials company reported $3.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). The company had revenue of $8.14 billion during 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%. The business’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.45 earnings per share. Analysts forecast that Nucor Co. will post 12.55 EPS for the current year.

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.24%. Nucor’s dividend payout ratio (DPR) is currently 12.71%.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Allen C. Behr sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total transaction of $1,901,900.00. Following the sale, the executive vice president now owns 80,902 shares of the company’s stock, valued at $15,386,751.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Nucor news, EVP Allen C. Behr sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total transaction of $1,901,900.00. Following the sale, the executive vice president now owns 80,902 shares of the company’s stock, valued at $15,386,751.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael D. Keller sold 3,145 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.67, for a total transaction of $609,092.15. Following the transaction, the insider now directly owns 24,873 shares in the company, valued at approximately $4,817,153.91. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,651 shares of company stock valued at $6,283,648. 0.46% of the stock is currently owned by insiders.

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.