Axxcess Wealth Management LLC Buys New Position in Nucor Co. (NYSE:NUE)

Axxcess Wealth Management LLC bought a new stake in shares of Nucor Co. (NYSE:NUE) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,684 shares of the basic materials company’s stock, valued at approximately $1,511,000.

Several other large investors also recently added to or reduced their stakes in the business. Criterion Capital Advisors LLC bought a new position in shares of Nucor in the fourth quarter worth approximately $25,000. Valley National Advisers Inc. grew its position in shares of Nucor by 716.7% during the fourth quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 172 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC lifted its holdings in shares of Nucor by 36.6% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 220 shares of the basic materials company’s stock valued at $38,000 after acquiring an additional 59 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of Nucor in the 3rd quarter valued at about $40,000. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Nucor by 2,410.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 251 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 241 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors.

Nucor Stock Performance

Shares of NUE stock opened at $175.00 on Monday. The firm has a market cap of $42.00 billion, a price-to-earnings ratio of 10.23 and a beta of 1.65. The company has a quick ratio of 2.48, a current ratio of 4.02 and a debt-to-equity ratio of 0.31. Nucor Co. has a 52-week low of $129.79 and a 52-week high of $203.00. The company’s 50 day moving average is $189.15 and its 200 day moving average is $175.42.

Nucor (NYSE:NUE) last announced 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 for the quarter, compared to analysts’ expectations of $8.26 billion. Nucor had a net margin of 12.40% and a return on equity of 19.62%. Nucor’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period last year, the firm earned $4.45 earnings per share. On average, sell-side analysts anticipate that Nucor Co. will post 12.55 EPS for the current fiscal year.

Nucor Dividend Announcement

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

Insider Buying and Selling at Nucor

In other Nucor news, insider Michael D. Keller sold 3,145 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total value 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 value of $1,901,900.00. Following the sale, the executive vice president now directly owns 80,902 shares of the company’s stock, valued at $15,386,751.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael D. Keller sold 3,145 shares of the company’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 completion of the sale, the insider now directly owns 24,873 shares in the company, valued at $4,817,153.91. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,651 shares of company stock valued at $6,283,648. 0.64% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

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.