Ballentine Partners LLC Sells 81 Shares of Nucor Co. (NYSE:NUE)

Ballentine Partners LLC cut its stake in Nucor Co. (NYSE:NUE) by 3.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,614 shares of the basic materials company’s stock after selling 81 shares during the period. Ballentine Partners LLC’s holdings in Nucor were worth $413,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of NUE. McClarren Financial Advisors Inc. raised its position in Nucor by 129.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 89 shares during the last quarter. Rise Advisors LLC bought a new stake in shares of Nucor during the first quarter worth $27,000. Chilton Capital Management LLC raised its position in shares of Nucor by 94.2% during the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 65 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Nucor during the first quarter valued at $28,000. Finally, Tompkins Financial Corp boosted its holdings in Nucor by 208.0% in the first quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 104 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NUE. Morgan Stanley upgraded shares of Nucor from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $187.00 to $176.00 in a research report on Thursday, August 15th. Argus raised shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Jefferies Financial Group began coverage on shares of Nucor in a report on Monday, May 20th. They set a “hold” rating and a $190.00 target price for the company. BMO Capital Markets cut their price target on Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a research note on Monday, June 17th. Finally, Bank of America decreased their price objective on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $195.00.

Insider Buying and Selling

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the sale, the executive vice president now directly owns 99,049 shares of the company’s stock, valued at approximately $15,847,840. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is currently owned by corporate insiders.

Nucor Stock Performance

Shares of Nucor stock opened at $139.61 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85. The firm has a market cap of $33.14 billion, a price-to-earnings ratio of 8.21 and a beta of 1.55. The stock’s 50-day moving average is $151.61 and its 200-day moving average is $168.50. Nucor Co. has a one year low of $137.91 and a one year high of $203.00.

Nucor (NYSE:NUE) last released its earnings results on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, beating the consensus estimate of $2.31 by $0.37. The firm had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $7.69 billion. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The business’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.81 EPS. Equities analysts predict that Nucor Co. will post 9.91 earnings per share for the current fiscal year.

Nucor 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.