Nucor Co. (NYSE:NUE) Shares Sold by Atomi Financial Group Inc.

Atomi Financial Group Inc. lowered its position in Nucor Co. (NYSE:NUE) by 16.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,278 shares of the basic materials company’s stock after selling 812 shares during the quarter. Atomi Financial Group Inc.’s holdings in Nucor were worth $499,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp boosted its position in Nucor by 2.9% during the 3rd quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock worth $1,724,117,000 after purchasing an additional 326,181 shares during the period. Geode Capital Management LLC boosted its position in shares of Nucor by 1.3% in the third quarter. Geode Capital Management LLC now owns 5,861,945 shares of the basic materials company’s stock worth $883,732,000 after buying an additional 74,569 shares during the period. Pacer Advisors Inc. grew its stake in shares of Nucor by 19.8% in the third quarter. Pacer Advisors Inc. now owns 3,456,484 shares of the basic materials company’s stock valued at $519,648,000 after buying an additional 571,682 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Nucor by 3.2% during the 2nd quarter. Legal & General Group Plc now owns 2,160,803 shares of the basic materials company’s stock valued at $341,580,000 after buying an additional 67,974 shares during the period. Finally, Nordea Investment Management AB lifted its position in Nucor by 25.6% during the 4th quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company’s stock worth $205,282,000 after acquiring an additional 358,721 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. The Goldman Sachs Group started coverage on shares of Nucor in a report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective on the stock. JPMorgan Chase & Co. dropped their target price on Nucor from $168.00 to $152.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. UBS Group reiterated a “neutral” rating and issued a $156.00 price target (down previously from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Finally, Citigroup lowered their price objective on Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.63.

Nucor Stock Performance

Shares of NYSE NUE opened at $122.19 on Friday. The stock has a market capitalization of $28.69 billion, a P/E ratio of 11.81 and a beta of 1.60. The firm’s 50-day moving average price is $131.15 and its two-hundred day moving average price is $143.67. Nucor Co. has a 52-week low of $112.25 and a 52-week high of $203.00. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26.

Nucor Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Tuesday, December 31st will be given a $0.55 dividend. The ex-dividend date is Tuesday, December 31st. This is a positive change from Nucor’s previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a yield of 1.80%. Nucor’s dividend payout ratio (DPR) is currently 21.26%.

Insider Buying and Selling at Nucor

In related news, CFO Stephen D. Laxton sold 4,712 shares of Nucor stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total transaction of $798,825.36. Following the sale, the chief financial officer now directly owns 82,132 shares in the company, valued at $13,923,837.96. The trade was a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Allen C. Behr sold 4,968 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $159.72, for a total transaction of $793,488.96. Following the completion of the transaction, the executive vice president now owns 85,376 shares of the company’s stock, valued at $13,636,254.72. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,680 shares of company stock worth $4,773,724. 0.46% of the stock is owned by insiders.

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.