EP Wealth Advisors LLC Sells 107 Shares of Nucor Co. (NYSE:NUE)

EP Wealth Advisors LLC cut its stake in shares of Nucor Co. (NYSE:NUE) by 4.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,478 shares of the basic materials company’s stock after selling 107 shares during the period. EP Wealth Advisors LLC’s holdings in Nucor were worth $392,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NUE. Pacer Advisors Inc. increased its position in shares of Nucor by 29.7% during the second quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock valued at $456,030,000 after buying an additional 660,866 shares during the period. Global Assets Advisory LLC bought a new position in shares of Nucor in the first quarter worth approximately $90,216,000. Swedbank AB bought a new position in shares of Nucor in the first quarter worth approximately $37,395,000. Captrust Financial Advisors increased its position in shares of Nucor by 23.5% in the first quarter. Captrust Financial Advisors now owns 804,150 shares of the basic materials company’s stock worth $159,141,000 after purchasing an additional 153,077 shares during the last quarter. Finally, Trinity Street Asset Management LLP bought a new position in shares of Nucor in the second quarter worth approximately $19,213,000. 76.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NUE has been the topic of several research analyst reports. Argus upgraded shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. BMO Capital Markets decreased 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 report on Wednesday, September 18th. Morgan Stanley decreased their price objective on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. JPMorgan Chase & Co. upgraded shares of Nucor from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $170.00 to $174.00 in a research report on Monday, September 9th. Finally, Bank of America decreased their price objective on shares of Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Three equities research 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $192.00.

Insider Activity

In other news, EVP Daniel R. Needham sold 8,624 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 99,049 shares of the company’s stock, valued at $15,847,840. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.

Nucor Stock Down 0.1 %

Shares of NUE opened at $151.29 on Friday. The firm has a market cap of $36.27 billion, a P/E ratio of 8.90 and a beta of 1.55. The stock has a 50 day simple moving average of $147.52 and a two-hundred day simple moving average of $163.99. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.37. The firm had revenue of $8.08 billion during the quarter, compared to analyst estimates 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 prior year, the firm posted $5.81 earnings per share. On average, analysts forecast that Nucor Co. will post 9.28 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Friday, September 27th. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

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.