Nucor Co. (NYSE:NUE) Holdings Decreased by MAI Capital Management

MAI Capital Management cut its holdings in shares of Nucor Co. (NYSE:NUEGet Rating) by 11.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,909 shares of the basic materials company’s stock after selling 2,326 shares during the quarter. MAI Capital Management’s holdings in Nucor were worth $2,662,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Kentucky Retirement Systems raised its holdings in shares of Nucor by 4.2% during the fourth quarter. Kentucky Retirement Systems now owns 18,249 shares of the basic materials company’s stock worth $2,083,000 after acquiring an additional 732 shares in the last quarter. Beacon Investment Advisory Services Inc. raised its stake in shares of Nucor by 5.5% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 5,149 shares of the basic materials company’s stock worth $588,000 after purchasing an additional 267 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Nucor by 2.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 422,524 shares of the basic materials company’s stock valued at $48,231,000 after buying an additional 10,692 shares during the last quarter. Modera Wealth Management LLC bought a new stake in shares of Nucor in the 4th quarter valued at approximately $607,000. Finally, Von Berge Wealth Management Group LLC acquired a new position in Nucor in the fourth quarter worth approximately $656,000. Hedge funds and other institutional investors own 77.70% of the company’s stock.

Insider Transactions at Nucor

In other Nucor news, EVP Kenneth Rex Query sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $141.64, for a total transaction of $708,200.00. Following the sale, the executive vice president now directly owns 76,100 shares of the company’s stock, valued at $10,778,804. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Kenneth Rex Query sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $141.64, for a total transaction of $708,200.00. Following the sale, the executive vice president now directly owns 76,100 shares in the company, valued at approximately $10,778,804. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Allen C. Behr sold 3,407 shares of the firm’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $122.17, for a total value of $416,233.19. Following the sale, the executive vice president now directly owns 64,087 shares of the company’s stock, valued at $7,829,508.79. The disclosure for this sale can be found here. In the last quarter, insiders have sold 57,175 shares of company stock valued at $6,616,198. 0.46% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NUE has been the subject of several recent research reports. The Goldman Sachs Group decreased their target price on shares of Nucor from $148.00 to $130.00 and set a “neutral” rating for the company in a research report on Tuesday, May 31st. JPMorgan Chase & Co. cut their target price on Nucor from $146.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, June 14th. StockNews.com downgraded Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday. Morgan Stanley cut their price objective on Nucor from $121.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday, July 25th. Finally, BMO Capital Markets decreased their target price on Nucor from $168.00 to $128.00 in a research report on Tuesday, May 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $133.18.

Nucor Trading Down 0.7 %

Shares of NUE stock opened at $141.87 on Tuesday. The firm has a market capitalization of $37.14 billion, a P/E ratio of 4.35 and a beta of 1.40. Nucor Co. has a 1 year low of $88.50 and a 1 year high of $187.90. The firm’s fifty day simple moving average is $119.85 and its 200 day simple moving average is $130.86. The company has a current ratio of 2.62, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37.

Nucor (NYSE:NUEGet Rating) last issued its quarterly earnings results on Thursday, July 21st. The basic materials company reported $9.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.91 by $0.76. The firm had revenue of $11.79 billion for the quarter, compared to analyst estimates of $11.59 billion. Nucor had a return on equity of 57.78% and a net margin of 21.03%. The company’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same period in the previous year, the company posted $5.04 earnings per share. As a group, sell-side analysts predict that Nucor Co. will post 3.45 EPS for the current year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Thursday, June 30th were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, June 29th. This represents a $2.00 annualized dividend and a yield of 1.41%. Nucor’s dividend payout ratio is currently 6.14%.

About Nucor

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Nucor Corporation manufactures and sells steel and steel products. The company's 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 products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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