180 Wealth Advisors LLC Cuts Stock Position in Nucor Co. (NYSE:NUE)

180 Wealth Advisors LLC lowered its stake in Nucor Co. (NYSE:NUE) by 13.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,314 shares of the basic materials company’s stock after selling 513 shares during the period. 180 Wealth Advisors LLC’s holdings in Nucor were worth $549,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Moneta Group Investment Advisors LLC grew its stake in shares of Nucor by 127,059.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 155,232,061 shares of the basic materials company’s stock worth $20,461,138,000 after buying an additional 155,109,984 shares during the last quarter. BlackRock Inc. lifted its position in Nucor by 0.8% in the 1st quarter. BlackRock Inc. now owns 22,263,001 shares of the basic materials company’s stock valued at $3,438,966,000 after acquiring an additional 170,412 shares in the last quarter. FMR LLC lifted its position in Nucor by 9.6% in the 1st quarter. FMR LLC now owns 8,705,904 shares of the basic materials company’s stock valued at $1,344,801,000 after acquiring an additional 762,269 shares in the last quarter. Geode Capital Management LLC lifted its position in Nucor by 0.4% in the 1st quarter. Geode Capital Management LLC now owns 5,438,353 shares of the basic materials company’s stock valued at $841,209,000 after acquiring an additional 23,366 shares in the last quarter. Finally, Morgan Stanley lifted its position in Nucor by 30.0% in the 4th quarter. Morgan Stanley now owns 4,247,626 shares of the basic materials company’s stock valued at $559,880,000 after acquiring an additional 979,824 shares in the last quarter. Hedge funds and other institutional investors own 77.76% of the company’s stock.

Nucor Trading Down 0.5 %

Shares of Nucor stock opened at $154.60 on Tuesday. The firm has a market cap of $38.45 billion, a price-to-earnings ratio of 7.14 and a beta of 1.61. The business has a 50-day moving average price of $167.85 and a 200-day moving average price of $155.81. The company has a quick ratio of 2.41, a current ratio of 3.82 and a debt-to-equity ratio of 0.32. Nucor Co. has a twelve month low of $102.86 and a twelve month high of $182.68.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, July 24th. The basic materials company reported $5.81 earnings per share for the quarter, beating analysts’ consensus estimates of $5.59 by $0.22. The firm had revenue of $9.52 billion during the quarter, compared to analyst estimates of $9.62 billion. Nucor had a return on equity of 28.00% and a net margin of 14.81%. The business’s quarterly revenue was down 19.3% compared to the same quarter last year. During the same quarter last year, the business posted $9.67 earnings per share. Equities research analysts anticipate that Nucor Co. will post 18.55 EPS for the current fiscal year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Friday, September 29th will be given a $0.51 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.04 annualized dividend and a yield of 1.32%. Nucor’s dividend payout ratio is currently 9.42%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NUE. BNP Paribas raised Nucor from a “neutral” rating to an “outperform” rating and set a $191.00 price target on the stock in a report on Wednesday, July 5th. StockNews.com cut Nucor from a “buy” rating to a “hold” rating in a report on Monday. Wolfe Research raised Nucor from an “underperform” rating to a “peer perform” rating in a report on Thursday, June 1st. Credit Suisse Group raised their target price on Nucor from $156.00 to $167.00 in a report on Tuesday, July 11th. Finally, JPMorgan Chase & Co. raised their target price on Nucor from $150.00 to $151.00 and gave the stock an “underweight” rating in a report on Friday, September 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $161.00.

Insider Buying and Selling

In other Nucor news, EVP Douglas J. Jellison sold 5,194 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $172.92, for a total transaction of $898,146.48. Following the completion of the transaction, the executive vice president now owns 139,326 shares in the company, valued at $24,092,251.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Nucor news, EVP Douglas J. Jellison sold 5,194 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $172.92, for a total transaction of $898,146.48. Following the completion of the transaction, the executive vice president now owns 139,326 shares in the company, valued at $24,092,251.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Leon J. Topalian sold 27,359 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $168.19, for a total value of $4,601,510.21. Following the transaction, the chief executive officer now owns 155,558 shares of the company’s stock, valued at approximately $26,163,300.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,320 shares of company stock worth $10,584,084. Corporate insiders own 0.46% of the company’s stock.

About Nucor

Nucor Corporation engages in manufacture and sale of 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 engineered special bar quality products.