Cornerstone Wealth Management LLC Grows Stake in Nucor Co. (NYSE:NUE)

Cornerstone Wealth Management LLC boosted its position in shares of Nucor Co. (NYSE:NUE) by 8.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,366 shares of the basic materials company’s stock after purchasing an additional 192 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Nucor were worth $276,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of NUE. Ashton Thomas Securities LLC purchased a new stake in shares of Nucor in the 3rd quarter worth about $26,000. Coastline Trust Co acquired a new position in Nucor during the third quarter worth about $29,000. Brown Lisle Cummings Inc. purchased a new stake in shares of Nucor in the third quarter valued at about $30,000. Salomon & Ludwin LLC grew its position in shares of Nucor by 45.6% in the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 72 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of Nucor by 60.3% during the 4th quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 114 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Price Performance

Nucor stock opened at $122.19 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59. The company has a market cap of $28.69 billion, a price-to-earnings ratio of 11.81 and a beta of 1.60. Nucor Co. has a 1 year low of $112.25 and a 1 year high of $203.00. The firm has a 50 day moving average price of $130.66 and a 200 day moving average price of $143.41.

Nucor Increases Dividend

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

Insider Activity at Nucor

In related news, EVP Allen C. Behr sold 4,968 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $159.72, for a total value of $793,488.96. Following the transaction, the executive vice president now owns 85,376 shares in the company, valued at approximately $13,636,254.72. This trade represents a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Kenneth Rex Query sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the sale, the executive vice president now owns 98,770 shares of the company’s stock, valued at approximately $14,499,436. This represents a 8.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,680 shares of company stock worth $4,773,724. 0.46% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. UBS Group reiterated a “neutral” rating and set a $156.00 target price (down previously from $171.00) on shares of Nucor in a report on Thursday, December 12th. Morgan Stanley decreased their price objective on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Jefferies Financial Group cut their target price on shares of Nucor from $150.00 to $125.00 and set a “hold” rating for the company in a research note on Monday, January 6th. JPMorgan Chase & Co. decreased their price target on shares of Nucor from $168.00 to $152.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Finally, Citigroup cut their price objective on shares of Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $163.63.

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.