Nucor Co. (NYSE:NUE) Shares Sold by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC trimmed its holdings in shares of Nucor Co. (NYSE:NUE) by 25.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,315 shares of the basic materials company’s stock after selling 781 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Nucor were worth $458,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Norges Bank acquired a new position in shares of Nucor during the 4th quarter worth approximately $377,631,000. Pacer Advisors Inc. raised its stake in Nucor by 13.0% in the 4th quarter. Pacer Advisors Inc. now owns 2,070,960 shares of the basic materials company’s stock valued at $360,430,000 after purchasing an additional 237,752 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Nucor by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,499,893 shares of the basic materials company’s stock valued at $261,041,000 after purchasing an additional 36,304 shares during the last quarter. First Trust Advisors LP raised its stake in Nucor by 6.7% in the 4th quarter. First Trust Advisors LP now owns 1,367,209 shares of the basic materials company’s stock valued at $237,949,000 after purchasing an additional 85,475 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in Nucor by 2.1% in the 4th quarter. Nordea Investment Management AB now owns 1,094,177 shares of the basic materials company’s stock valued at $190,376,000 after purchasing an additional 22,596 shares during the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor Stock Performance

NYSE NUE opened at $154.71 on Friday. The stock has a market cap of $37.09 billion, a PE ratio of 9.10 and a beta of 1.60. The company has a current ratio of 4.02, a quick ratio of 2.48 and a debt-to-equity ratio of 0.31. Nucor Co. has a twelve month low of $140.07 and a twelve month high of $203.00. The stock has a fifty day simple moving average of $167.13 and a 200-day simple moving average of $177.74.

Nucor (NYSE:NUE) last posted its earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.62 by ($0.16). Nucor had a return on equity of 19.62% and a net margin of 12.40%. The firm had revenue of $8.14 billion for the quarter, compared to analyst estimates of $8.26 billion. During the same period in the previous year, the company posted $4.45 EPS. Nucor’s revenue was down 6.6% on a year-over-year basis. Equities analysts anticipate that Nucor Co. will post 10.89 earnings per share for the current year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, June 28th will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.40%. The ex-dividend date is Friday, June 28th. Nucor’s payout ratio is 12.71%.

Analyst Ratings Changes

NUE has been the subject of several recent research reports. Citigroup raised Nucor from a “neutral” rating to a “buy” rating and increased their price objective for the company from $180.00 to $240.00 in a research note on Wednesday, March 13th. JPMorgan Chase & Co. reduced their price objective on Nucor from $190.00 to $180.00 and set a “neutral” rating for the company in a research note on Tuesday, June 11th. Jefferies Financial Group assumed coverage on Nucor in a research note on Monday, May 20th. They issued a “hold” rating and a $190.00 price objective for the company. StockNews.com cut Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Finally, BMO Capital Markets dropped their target price on Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a report on Monday, June 17th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $189.67.

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.