Nucor Corporation $NUE Shares Sold by Tcfg Wealth Management LLC

Tcfg Wealth Management LLC trimmed its holdings in shares of Nucor Corporation (NYSE:NUE) by 8.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,701 shares of the basic materials company’s stock after selling 681 shares during the period. Tcfg Wealth Management LLC’s holdings in Nucor were worth $998,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Nucor by 17.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,595 shares of the basic materials company’s stock worth $3,853,000 after acquiring an additional 4,763 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Nucor by 21.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 101,459 shares of the basic materials company’s stock valued at $12,210,000 after purchasing an additional 17,861 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Nucor by 20.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 28,886 shares of the basic materials company’s stock valued at $3,476,000 after purchasing an additional 4,914 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in Nucor by 138.5% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 121,543 shares of the basic materials company’s stock worth $15,745,000 after purchasing an additional 70,581 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Nucor by 12.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 305,006 shares of the basic materials company’s stock worth $36,704,000 after buying an additional 33,700 shares during the period. Institutional investors own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on NUE shares. The Goldman Sachs Group decreased their target price on shares of Nucor from $182.00 to $173.00 and set a “buy” rating for the company in a report on Monday, September 22nd. Morgan Stanley upped their price target on shares of Nucor from $134.00 to $149.00 and gave the company an “overweight” rating in a research report on Friday, June 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nucor in a research report on Saturday, September 27th. Wells Fargo & Company cut their target price on shares of Nucor from $146.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 18th. Finally, JPMorgan Chase & Co. raised their target price on Nucor from $143.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, July 14th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Nucor presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.60.

Nucor Stock Down 1.8%

Nucor stock opened at $135.57 on Tuesday. Nucor Corporation has a twelve month low of $97.59 and a twelve month high of $170.52. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 2.83. The firm has a market cap of $31.12 billion, a PE ratio of 24.47, a P/E/G ratio of 0.95 and a beta of 1.75. The firm’s 50 day moving average price is $141.66 and its two-hundred day moving average price is $129.09.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, July 28th. The basic materials company reported $2.60 EPS for the quarter, beating the consensus estimate of $2.54 by $0.06. Nucor had a net margin of 4.21% and a return on equity of 6.65%. The business had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.47 billion. During the same period in the previous year, the company posted $2.68 EPS. Nucor’s revenue was up 4.7% on a year-over-year basis. On average, research analysts predict that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be paid a $0.55 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.20 dividend on an annualized basis and a yield of 1.6%. Nucor’s payout ratio is 39.71%.

Insider Transactions at Nucor

In other news, EVP Allen C. Behr sold 8,021 shares of the firm’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $143.38, for a total transaction of $1,150,050.98. Following the completion of the sale, the executive vice president directly owned 82,703 shares of the company’s stock, valued at $11,857,956.14. This trade represents a 8.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kenneth Rex Query sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $144.90, for a total value of $1,449,000.00. Following the completion of the sale, the executive vice president directly owned 84,080 shares of the company’s stock, valued at approximately $12,183,192. The trade was a 10.63% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,309 shares of company stock valued at $4,553,771. 0.71% of the stock is currently owned by company insiders.

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.