Nucor Co. (NYSE:NUE) Shares Sold by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. decreased its position in shares of Nucor Co. (NYSE:NUE) by 6.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,159 shares of the basic materials company’s stock after selling 137 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Nucor were worth $341,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. HBK Sorce Advisory LLC boosted its holdings in shares of Nucor by 3.2% during the second quarter. HBK Sorce Advisory LLC now owns 4,092 shares of the basic materials company’s stock valued at $647,000 after acquiring an additional 127 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Nucor by 185.8% during the second quarter. Federated Hermes Inc. now owns 111,506 shares of the basic materials company’s stock valued at $17,627,000 after acquiring an additional 72,490 shares during the period. Meeder Advisory Services Inc. boosted its holdings in shares of Nucor by 148.3% during the second quarter. Meeder Advisory Services Inc. now owns 8,303 shares of the basic materials company’s stock valued at $1,313,000 after acquiring an additional 4,959 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in shares of Nucor by 0.4% during the second quarter. Oppenheimer & Co. Inc. now owns 18,537 shares of the basic materials company’s stock valued at $2,930,000 after acquiring an additional 80 shares during the period. Finally, Vest Financial LLC boosted its holdings in shares of Nucor by 28.3% during the second quarter. Vest Financial LLC now owns 390,896 shares of the basic materials company’s stock valued at $61,793,000 after acquiring an additional 86,292 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Price Performance

Shares of Nucor stock opened at $143.00 on Thursday. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26. The company’s 50-day moving average price is $150.15 and its two-hundred day moving average price is $166.56. Nucor Co. has a 52 week low of $133.42 and a 52 week high of $203.00. The stock has a market cap of $34.29 billion, a PE ratio of 8.41 and a beta of 1.55.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, topping 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 firm had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $7.69 billion. During the same period in the previous year, the business earned $5.81 earnings per share. Nucor’s revenue for the quarter was down 15.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Nucor Co. will post 9.95 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.54 per share. The ex-dividend date is Friday, September 27th. This represents a $2.16 annualized dividend and a yield of 1.51%. Nucor’s payout ratio is presently 12.71%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NUE. JPMorgan Chase & Co. raised shares of Nucor from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $170.00 to $174.00 in a report on Monday, September 9th. BMO Capital Markets cut their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research note on Wednesday. Argus upgraded shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Bank of America cut their price objective on shares of Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Finally, Morgan Stanley cut their price objective on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Nucor currently has an average rating of “Moderate Buy” and an average target price of $192.00.

Insiders Place Their Bets

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 stock was 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 owns 99,049 shares in the company, valued at approximately $15,847,840. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.46% of the company’s stock.

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.