Clarius Group LLC Lowers Stock Position in Nucor Co. (NYSE:NUE)

Clarius Group LLC trimmed its holdings in shares of Nucor Co. (NYSE:NUE) by 5.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,555 shares of the basic materials company’s stock after selling 82 shares during the period. Clarius Group LLC’s holdings in Nucor were worth $230,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Fortitude Family Office LLC raised its position in Nucor by 54.1% in the first quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 59 shares in the last quarter. GPS Wealth Strategies Group LLC grew its stake in shares of Nucor by 4.1% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,630 shares of the basic materials company’s stock worth $258,000 after purchasing an additional 64 shares during the period. Chilton Capital Management LLC increased its holdings in shares of Nucor by 94.2% in the 1st quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 65 shares in the last quarter. Integrated Advisors Network LLC increased its holdings in shares of Nucor by 3.4% in the 4th quarter. Integrated Advisors Network LLC now owns 2,141 shares of the basic materials company’s stock valued at $373,000 after purchasing an additional 70 shares in the last quarter. Finally, Aptus Capital Advisors LLC lifted its stake in shares of Nucor by 2.1% in the second quarter. Aptus Capital Advisors LLC now owns 3,457 shares of the basic materials company’s stock valued at $546,000 after purchasing an additional 71 shares during the period. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor Trading Up 0.7 %

Shares of NUE stock opened at $151.91 on Friday. The company has a market capitalization of $36.42 billion, a price-to-earnings ratio of 8.94 and a beta of 1.55. 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 firm has a 50-day moving average price of $146.67 and a 200 day moving average price of $162.01. Nucor Co. has a twelve month low of $133.42 and a twelve month high of $203.00.

Nucor (NYSE:NUE) last announced its earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.37. The firm had revenue of $8.08 billion for the quarter, compared to analyst estimates of $7.69 billion. Nucor had a net margin of 10.45% and a return on equity of 15.69%. Nucor’s revenue was down 15.2% compared to the same quarter last year. During the same quarter last year, the business earned $5.81 earnings per share. Research analysts forecast that Nucor Co. will post 9.1 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be given 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 1.42%. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

Analyst Ratings Changes

NUE has been the subject of a number of research analyst reports. Morgan Stanley dropped their target price on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. Bank of America dropped 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. Argus upgraded Nucor to a “strong-buy” rating in a research report on Monday, August 26th. JPMorgan Chase & Co. dropped their price target on Nucor from $174.00 to $170.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, 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. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.43.

Insiders Place Their Bets

In other news, EVP Daniel R. Needham sold 8,624 shares of the 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 transaction, the executive vice president now directly owns 99,049 shares in the company, valued at $15,847,840. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.46% of the stock is owned by corporate insiders.

About Nucor

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.