Apollon Wealth Management LLC Sells 241 Shares of Nucor Co. (NYSE:NUE)

Apollon Wealth Management LLC lessened its position in Nucor Co. (NYSE:NUE) by 3.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,258 shares of the basic materials company’s stock after selling 241 shares during the period. Apollon Wealth Management LLC’s holdings in Nucor were worth $941,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NUE. Pacer Advisors Inc. lifted its stake in shares of Nucor by 29.7% in the second quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock worth $456,030,000 after buying an additional 660,866 shares in the last quarter. Ceredex Value Advisors LLC bought a new position in shares of Nucor in the third quarter worth approximately $74,829,000. International Assets Investment Management LLC lifted its stake in shares of Nucor by 14,525.9% in the third quarter. International Assets Investment Management LLC now owns 326,889 shares of the basic materials company’s stock worth $49,144,000 after buying an additional 324,654 shares in the last quarter. Swedbank AB bought a new position in shares of Nucor in the first quarter worth approximately $37,395,000. Finally, Captrust Financial Advisors raised its holdings in shares of Nucor by 23.5% during the first quarter. Captrust Financial Advisors now owns 804,150 shares of the basic materials company’s stock valued at $159,141,000 after purchasing an additional 153,077 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Price Performance

NUE stock opened at $147.08 on Friday. Nucor Co. has a 52 week low of $133.42 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. The company has a fifty day simple moving average of $148.72 and a two-hundred day simple moving average of $155.16. The firm has a market capitalization of $34.54 billion, a P/E ratio of 14.21 and a beta of 1.55.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 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 analyst estimates of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. Nucor’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same quarter last year, the business earned $4.57 earnings per share. Analysts anticipate that Nucor Co. will post 8.52 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.47%. The ex-dividend date was Friday, September 27th. Nucor’s dividend payout ratio is currently 20.87%.

Insider Transactions at Nucor

In related news, 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 value of $793,488.96. Following the sale, the executive vice president now directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kenneth Rex Query sold 9,000 shares of the business’s stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. In the last quarter, insiders sold 29,680 shares of company stock worth $4,773,724. 0.46% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Morgan Stanley decreased their price objective on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. BMO Capital Markets decreased their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. Argus raised shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Three research 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $190.57.

Nucor Company 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.