Crossmark Global Holdings Inc. Trims Position in Nucor Co. (NYSE:NUE)

Crossmark Global Holdings Inc. cut its stake in shares of Nucor Co. (NYSE:NUE) by 73.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,897 shares of the basic materials company’s stock after selling 33,231 shares during the period. Crossmark Global Holdings Inc.’s holdings in Nucor were worth $1,389,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NUE. Ashton Thomas Securities LLC bought a new stake in Nucor during the 3rd quarter worth approximately $26,000. Coastline Trust Co purchased a new position in shares of Nucor during the 3rd quarter valued at $29,000. Brown Lisle Cummings Inc. bought a new position in shares of Nucor in the third quarter worth $30,000. Salomon & Ludwin LLC raised 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 worth $35,000 after buying an additional 72 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in shares of Nucor by 60.3% in the fourth quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock worth $35,000 after buying an additional 114 shares in the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Nucor news, EVP Allen C. Behr sold 4,968 shares of the firm’s stock in a transaction 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 sale, the executive vice president now owns 85,376 shares of the company’s stock, valued at $13,636,254.72. This trade represents a 5.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kenneth Rex Query sold 9,000 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the transaction, the executive vice president now directly owns 98,770 shares of the company’s stock, valued at approximately $14,499,436. This trade represents a 8.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,680 shares of company stock worth $4,773,724 in the last ninety days. 0.46% of the stock is owned by insiders.

Nucor Stock Performance

Nucor stock opened at $122.19 on Friday. The firm has a fifty day simple moving average of $131.15 and a two-hundred day simple moving average of $143.67. Nucor Co. has a twelve month low of $112.25 and a twelve month high of $203.00. The company has a market capitalization of $28.69 billion, a PE ratio of 11.81 and a beta of 1.60. 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. Investors of record on Tuesday, December 31st will be issued a dividend of $0.55 per share. The ex-dividend date is Tuesday, December 31st. This is a boost 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 is currently 21.26%.

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.