Avior Wealth Management LLC Decreases Holdings in Nucor Co. (NYSE:NUE)

Avior Wealth Management LLC trimmed its stake in shares of Nucor Co. (NYSE:NUE) by 4.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,303 shares of the basic materials company’s stock after selling 57 shares during the period. Avior Wealth Management LLC’s holdings in Nucor were worth $227,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Householder Group Estate & Retirement Specialist LLC purchased a new position in Nucor during the third quarter valued at $25,000. Providence Capital Advisors LLC lifted its stake in shares of Nucor by 15,470.4% in the first quarter. Providence Capital Advisors LLC now owns 4,204 shares of the basic materials company’s stock worth $27,000 after buying an additional 4,177 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in shares of Nucor in the first quarter worth about $32,000. Valley National Advisers Inc. lifted its stake in shares of Nucor by 716.7% in the fourth quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock worth $34,000 after buying an additional 172 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new position in shares of Nucor in the third quarter worth about $40,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Nucor

In related news, EVP Allen C. Behr sold 10,000 shares of Nucor stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 80,902 shares in the company, valued at $15,386,751.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Allen C. Behr sold 10,000 shares of Nucor stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 80,902 shares in the company, valued at $15,386,751.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Douglas J. Jellison sold 19,506 shares of Nucor stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $23,351,936.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,151 shares of company stock worth $7,308,683. Corporate insiders own 0.46% of the company’s stock.

Nucor Price Performance

Shares of NUE opened at $191.36 on Friday. Nucor Co. has a 1-year low of $129.79 and a 1-year high of $203.00. The stock has a market cap of $45.92 billion, a PE ratio of 10.64 and a beta of 1.61. The firm has a 50-day simple moving average of $191.19 and a two-hundred day simple moving average of $173.57. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.57 and a quick ratio of 2.35.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, January 29th. The basic materials company reported $3.16 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.33. The business had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.64 billion. Nucor had a net margin of 13.03% and a return on equity of 21.42%. The business’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same period last year, the business earned $4.89 earnings per share. As a group, analysts forecast that Nucor Co. will post 12.93 EPS for the current year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Thursday, March 28th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Wednesday, March 27th. Nucor’s dividend payout ratio (DPR) is currently 12.01%.

Wall Street Analyst Weigh In

NUE has been the topic of several research reports. Citigroup raised shares of Nucor from a “neutral” rating to a “buy” rating and raised their price target for the stock from $180.00 to $240.00 in a research note on Wednesday, March 13th. StockNews.com upgraded shares of Nucor from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th. 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 for the company. Finally, JPMorgan Chase & Co. lifted their price target on shares of Nucor from $180.00 to $195.00 and gave the company a “neutral” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $192.83.

About Nucor

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.