First Foundation Advisors Sells 221 Shares of Nucor Co. (NYSE:NUE)

First Foundation Advisors lowered its holdings in shares of Nucor Co. (NYSE:NUE) by 24.6% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 678 shares of the basic materials company’s stock after selling 221 shares during the period. First Foundation Advisors’ holdings in Nucor were worth $107,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Quest Partners LLC bought a new position in Nucor during the second quarter worth about $185,000. Hudson Edge Investment Partners Inc. grew its holdings in Nucor by 86.5% during the second quarter. Hudson Edge Investment Partners Inc. now owns 28,922 shares of the basic materials company’s stock worth $4,572,000 after purchasing an additional 13,412 shares during the period. Caprock Group LLC grew its holdings in Nucor by 49.8% during the second quarter. Caprock Group LLC now owns 6,830 shares of the basic materials company’s stock worth $1,083,000 after purchasing an additional 2,272 shares during the period. Counterweight Ventures LLC grew its holdings in Nucor by 3.5% during the second quarter. Counterweight Ventures LLC now owns 11,809 shares of the basic materials company’s stock worth $1,867,000 after purchasing an additional 404 shares during the period. Finally, Asset Dedication LLC grew its holdings in Nucor by 2.6% during the second quarter. Asset Dedication LLC now owns 10,938 shares of the basic materials company’s stock worth $1,729,000 after purchasing an additional 278 shares during the period. Institutional investors own 76.48% of the company’s stock.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 99,049 shares in the company, valued at $15,847,840. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Bank of America cut their price objective on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. BMO Capital Markets cut their price objective on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a research report on Monday, June 17th. JPMorgan Chase & Co. upgraded shares of Nucor from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $170.00 to $174.00 in a research report on Monday. Jefferies Financial Group assumed coverage on shares of Nucor in a research report on Monday, May 20th. They set a “hold” rating and a $190.00 price objective for the company. Finally, Morgan Stanley upgraded shares of Nucor from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $187.00 to $176.00 in a research report on Thursday, August 15th. Three investment 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. According to MarketBeat, Nucor has an average rating of “Moderate Buy” and a consensus price target of $195.00.

Nucor Stock Down 0.9 %

NYSE NUE opened at $139.61 on Wednesday. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26. Nucor Co. has a 1-year low of $137.91 and a 1-year high of $203.00. The company has a 50 day moving average of $151.61 and a 200-day moving average of $168.50. The company has a market cap of $33.14 billion, a price-to-earnings ratio of 8.21 and a beta of 1.55.

Nucor (NYSE:NUE) last announced its quarterly earnings data 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. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The business had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $7.69 billion. During the same period in the previous year, the business earned $5.81 earnings per share. The company’s revenue was down 15.2% on a year-over-year basis. On average, equities research analysts expect 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.