Kingfisher Capital LLC Sells 150 Shares of Nucor Co. (NYSE:NUE)

Kingfisher Capital LLC lowered its stake in Nucor Co. (NYSE:NUE) by 6.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,100 shares of the basic materials company’s stock after selling 150 shares during the quarter. Kingfisher Capital LLC’s holdings in Nucor were worth $332,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Dimensional Fund Advisors LP grew its position in shares of Nucor by 2.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,909,388 shares of the basic materials company’s stock worth $617,915,000 after buying an additional 84,558 shares during the period. Pacer Advisors Inc. grew its holdings in 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 purchasing an additional 660,866 shares during the period. First Trust Advisors LP increased its stake in Nucor by 6.7% in the fourth 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 in the last quarter. Nordea Investment Management AB raised its holdings in Nucor by 6.5% in the first quarter. Nordea Investment Management AB now owns 1,165,094 shares of the basic materials company’s stock worth $230,572,000 after purchasing an additional 70,917 shares during the period. Finally, Hsbc Holdings PLC boosted its position in shares of Nucor by 11.6% during the second quarter. Hsbc Holdings PLC now owns 1,069,920 shares of the basic materials company’s stock worth $169,433,000 after purchasing an additional 111,177 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Daniel R. Needham sold 8,624 shares of Nucor stock in a transaction 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 Securities & Exchange Commission, which can be accessed through this link. 0.46% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. JPMorgan Chase & Co. upgraded Nucor from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $170.00 to $174.00 in a report on Monday, September 9th. Argus raised Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Bank of America dropped their target price on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. BMO Capital Markets decreased their price target on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday, September 18th. 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 report on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $192.00.

Nucor Stock Performance

NUE opened at $150.68 on Wednesday. The company has a quick ratio of 1.85, a current ratio of 2.93 and a debt-to-equity ratio of 0.26. The stock has a market cap of $35.76 billion, a price-to-earnings ratio of 8.86 and a beta of 1.55. Nucor Co. has a 12-month low of $133.42 and a 12-month high of $203.00. The business has a 50 day moving average of $148.99 and a 200-day moving average of $165.36.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.37. The firm had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $7.69 billion. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The company’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same period in the previous year, the business posted $5.81 earnings per share. On average, equities research analysts expect that Nucor Co. will post 9.28 earnings per share for the current year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be issued 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 of this dividend is Friday, September 27th. Nucor’s dividend payout ratio is presently 12.71%.

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.