Financial Partners Group LLC Sells 4,542 Shares of Nucor Corporation (NYSE:NUE)

Financial Partners Group LLC lessened its stake in shares of Nucor Corporation (NYSE:NUE - Free Report) by 29.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,780 shares of the basic materials company's stock after selling 4,542 shares during the period. Financial Partners Group LLC's holdings in Nucor were worth $1,297,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cornerstone Wealth Management LLC grew its holdings in Nucor by 6.4% during the first quarter. Cornerstone Wealth Management LLC now owns 2,518 shares of the basic materials company's stock valued at $303,000 after purchasing an additional 152 shares during the last quarter. Rakuten Securities Inc. grew its holdings in Nucor by 577.6% during the first quarter. Rakuten Securities Inc. now owns 515 shares of the basic materials company's stock valued at $62,000 after purchasing an additional 439 shares during the last quarter. Highline Wealth Partners LLC grew its stake in shares of Nucor by 2.6% in the first quarter. Highline Wealth Partners LLC now owns 3,512 shares of the basic materials company's stock worth $423,000 after acquiring an additional 90 shares during the last quarter. Sagespring Wealth Partners LLC acquired a new stake in shares of Nucor in the first quarter worth $396,000. Finally, Sowell Financial Services LLC acquired a new stake in shares of Nucor in the first quarter worth $623,000. Institutional investors and hedge funds own 76.48% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Morgan Stanley set a $164.00 price objective on shares of Nucor in a research note on Monday, March 24th. JPMorgan Chase & Co. lowered their price objective on shares of Nucor from $156.00 to $140.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. UBS Group lowered their price objective on shares of Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. BMO Capital Markets upgraded shares of Nucor from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $140.00 to $145.00 in a research note on Monday, June 2nd. Finally, Wall Street Zen downgraded shares of Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Nucor has an average rating of "Moderate Buy" and an average target price of $157.22.

Insider Buying and Selling at Nucor

In other Nucor news, CEO Leon J. Topalian sold 34,238 shares of Nucor stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $120.19, for a total transaction of $4,115,065.22. Following the completion of the transaction, the chief executive officer now directly owns 162,993 shares of the company's stock, valued at approximately $19,590,128.67. This trade represents a 17.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.46% of the company's stock.

Nucor Stock Performance

NUE traded up $4.01 during trading on Thursday, reaching $126.21. 4,038,530 shares of the company's stock were exchanged, compared to its average volume of 2,221,339. Nucor Corporation has a fifty-two week low of $97.59 and a fifty-two week high of $170.52. The company has a quick ratio of 1.48, a current ratio of 2.52 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average price of $115.72 and a 200 day moving average price of $123.15. The company has a market capitalization of $29.12 billion, a P/E ratio of 22.46, a PEG ratio of 0.80 and a beta of 1.67.

Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The basic materials company reported $0.77 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.15). Nucor had a return on equity of 6.82% and a net margin of 4.40%. The business had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.25 billion. During the same quarter in the prior year, the firm earned $3.46 EPS. The firm's quarterly revenue was down 3.8% on a year-over-year basis. As a group, analysts predict that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.55 per share. The ex-dividend date is Monday, June 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.74%. Nucor's payout ratio is presently 39.15%.

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.