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

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

Other institutional investors and hedge funds have also made changes to their positions in the company. Clear Harbor Asset Management LLC acquired a new position in Nucor in the fourth quarter valued at $407,000. Zhang Financial LLC grew its holdings in shares of Nucor by 1.9% during the fourth quarter. Zhang Financial LLC now owns 5,284 shares of the basic materials company’s stock worth $617,000 after buying an additional 99 shares during the last quarter. Community Bank of Raymore increased its position in Nucor by 3.2% in the 4th quarter. Community Bank of Raymore now owns 5,170 shares of the basic materials company’s stock valued at $603,000 after acquiring an additional 160 shares during the period. Ellsworth Advisors LLC lifted its position in Nucor by 3.6% during the 4th quarter. Ellsworth Advisors LLC now owns 14,551 shares of the basic materials company’s stock worth $1,698,000 after acquiring an additional 506 shares during the period. Finally, Polianta Ltd grew its stake in shares of Nucor by 33.8% in the 4th quarter. Polianta Ltd now owns 10,300 shares of the basic materials company’s stock valued at $1,202,000 after purchasing an additional 2,600 shares during the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NUE. Citigroup decreased their price target on Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a report 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 report on Friday, January 17th. The Goldman Sachs Group assumed coverage on shares of Nucor in a research report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective for the company. Morgan Stanley dropped their target price on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, Jefferies Financial Group reduced their price target on Nucor from $150.00 to $125.00 and set a “hold” rating for the company in a report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $163.63.

Insider Buying and Selling at Nucor

In related news, EVP Kenneth Rex Query sold 9,000 shares of the stock in a transaction 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 $14,499,436. This trade represents a 8.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stephen D. Laxton sold 4,712 shares of the business’s 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 completion of the transaction, the chief financial officer now directly owns 82,132 shares of the company’s stock, valued at $13,923,837.96. The trade was a 5.43 % decrease in their position. The disclosure for this sale can be found here. In 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.

Nucor Stock Performance

NYSE:NUE opened at $122.19 on Friday. The firm has a 50-day moving average price of $131.15 and a two-hundred day moving average price of $143.67. The company has a market capitalization of $28.69 billion, a P/E ratio of 11.81 and a beta of 1.60. Nucor Co. has a twelve month low of $112.25 and a twelve month high of $203.00. The company has a current ratio of 2.59, a quick ratio of 1.61 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 paid a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.20 dividend on an annualized basis and a yield of 1.80%. This is a positive change from Nucor’s previous quarterly dividend of $0.54. Nucor’s dividend payout ratio is presently 21.26%.

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.