Nucor Corporation $NUE Stock: Yousif Capital Management LLC Lowers Holdings

Yousif Capital Management LLC cut its stake in Nucor Corporation (NYSE:NUE) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,486 shares of the basic materials company’s stock after selling 2,287 shares during the quarter. Yousif Capital Management LLC’s holdings in Nucor were worth $16,242,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of NUE. Transamerica Financial Advisors LLC purchased a new stake in shares of Nucor during the 2nd quarter valued at about $25,000. Manning & Napier Advisors LLC purchased a new position in Nucor in the 2nd quarter worth approximately $27,000. Bell Investment Advisors Inc acquired a new stake in Nucor in the second quarter valued at approximately $28,000. GK Wealth Management LLC acquired a new stake in Nucor in the third quarter valued at approximately $28,000. Finally, Markowski Investments purchased a new stake in shares of Nucor during the second quarter valued at approximately $29,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NUE shares. Freedom Broker cut shares of Nucor from a “buy” rating to a “hold” rating and reduced their target price for the stock from $305.00 to $285.00 in a research report on Friday, September 18th. Wall Street Zen upgraded Nucor from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. KeyCorp reduced their target price on Nucor from $288.00 to $286.00 and set an “overweight” rating on the stock in a report on Monday, October 5th. JPMorgan Chase & Co. reduced their target price on Nucor from $308.00 to $296.00 and set an “overweight” rating on the stock in a report on Friday, October 9th. Finally, Morgan Stanley set a $270.00 target price on Nucor in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $276.86.

Insider Activity at Nucor

In related news, EVP Thomas Batterbee sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $261.02, for a total value of $1,044,080.00. Following the sale, the executive vice president directly owned 16,138 shares in the company, valued at $4,212,340.76. This trade represents a 19.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Stephen Laxton sold 3,968 shares of Nucor stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total value of $1,019,617.28. Following the sale, the chief operating officer directly owned 77,867 shares in the company, valued at $20,008,704.32. The trade was a 4.85% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.62% of the stock is owned by company insiders.

Nucor Stock Performance

NUE stock traded up $0.17 during mid-day trading on Friday, reaching $258.23. The company had a trading volume of 1,165,635 shares, compared to its average volume of 1,179,709. The company has a quick ratio of 1.36, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $58.59 billion, a P/E ratio of 20.59, a P/E/G ratio of 0.63 and a beta of 1.84. Nucor Corporation has a one year low of $138.34 and a one year high of $280.11. The stock’s 50-day simple moving average is $252.58 and its two-hundred day simple moving average is $241.17.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.46 by $0.38. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The company had revenue of $10.40 billion during the quarter, compared to the consensus estimate of $10.15 billion. During the same quarter in the previous year, the company posted $2.60 earnings per share. The company’s revenue for the quarter was up 23.0% compared to the same quarter last year. Research analysts anticipate that Nucor Corporation will post 19.62 EPS for the current year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 10th. Investors of record on Wednesday, September 30th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Nucor’s dividend payout ratio is 17.86%.

Nucor Company Profile

Nucor Corporation is a steel producer headquartered in Charlotte, North Carolina. Through its operating subsidiaries, the company manufactures steel and steel products for customers in construction, automotive, energy, heavy equipment, transportation and other industrial markets.

Nucor’s operations include electric arc furnace steel mills, which produce carbon, alloy and galvanized steel products. Its product portfolio includes sheet steel, plate, beams, bars, wire and wire mesh, steel joists, deck, piling, fabricated concrete reinforcing steel and other downstream products.