Purus Wealth Management LLC Has $312,000 Stock Holdings in Nucor Co. (NYSE:NUE)

Purus Wealth Management LLC trimmed its holdings in shares of Nucor Co. (NYSE:NUE) by 4.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,674 shares of the basic materials company’s stock after selling 133 shares during the quarter. Purus Wealth Management LLC’s holdings in Nucor were worth $312,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. State Street Corp raised its holdings in shares of Nucor by 2.9% during the third quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock worth $1,724,117,000 after acquiring an additional 326,181 shares during the period. Geode Capital Management LLC lifted its holdings 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 valued at $883,732,000 after purchasing an additional 74,569 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Nucor by 19.8% during the third quarter. Pacer Advisors Inc. now owns 3,456,484 shares of the basic materials company’s stock worth $519,648,000 after buying an additional 571,682 shares during the period. Legal & General Group Plc grew its holdings in shares of Nucor by 3.2% during the second quarter. Legal & General Group Plc now owns 2,160,803 shares of the basic materials company’s stock worth $341,580,000 after buying an additional 67,974 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in Nucor by 25.6% in the 4th quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company’s stock valued at $205,282,000 after buying an additional 358,721 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Insider Activity at Nucor

In other Nucor news, EVP Kenneth Rex Query sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total value 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 $14,499,436. This trade represents a 8.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Allen C. Behr sold 4,968 shares of the business’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 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. The trade was a 5.50 % decrease in their ownership of the stock. 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. Corporate insiders own 0.64% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Morgan Stanley cut 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. Citigroup decreased their price target on Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. JPMorgan Chase & Co. dropped their price objective on Nucor from $168.00 to $152.00 and set an “overweight” rating on the stock in a research note on Friday. UBS Group restated a “neutral” rating and set a $156.00 target price (down from $171.00) on shares of Nucor in a report on Thursday, December 12th. Finally, Jefferies Financial Group dropped their target price on shares of Nucor from $150.00 to $125.00 and set a “hold” rating on the stock in a report on Monday, January 6th. Four 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 stock. Based on data from MarketBeat.com, Nucor presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.63.

Nucor Stock Up 0.8 %

Nucor stock opened at $124.40 on Monday. Nucor Co. has a twelve month low of $112.25 and a twelve month high of $203.00. The stock has a market cap of $29.21 billion, a P/E ratio of 12.02 and a beta of 1.60. The company’s 50-day moving average price is $133.52 and its two-hundred day moving average price is $144.40. 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 (NYSE:NUE) last released its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.09. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The firm’s quarterly revenue was down 15.2% on a year-over-year basis. During the same period in the previous year, the company posted $4.57 EPS. As a group, analysts expect that Nucor Co. will post 8.19 EPS for the current year.

Nucor Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Nucor’s previous quarterly dividend of $0.54. Nucor’s 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.