Dynamic Advisor Solutions LLC Sells 140 Shares of Nucor Co. (NYSE:NUE)

Dynamic Advisor Solutions LLC cut its holdings in Nucor Co. (NYSE:NUE) by 7.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,801 shares of the basic materials company’s stock after selling 140 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Nucor were worth $271,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. CX Institutional increased its position in shares of Nucor by 52.8% during the 2nd quarter. CX Institutional now owns 17,245 shares of the basic materials company’s stock valued at $2,726,000 after purchasing an additional 5,960 shares during the last quarter. Newbridge Financial Services Group Inc. raised its position in Nucor by 94.2% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,855 shares of the basic materials company’s stock worth $323,000 after acquiring an additional 900 shares during the period. Norden Group LLC purchased a new position in Nucor in the first quarter valued at about $1,847,000. Banco Santander S.A. grew its position in shares of Nucor by 86.2% during the 1st quarter. Banco Santander S.A. now owns 12,895 shares of the basic materials company’s stock valued at $2,552,000 after acquiring an additional 5,971 shares during the period. Finally, Ascension Asset Management LLC purchased a new stake in shares of Nucor during the 2nd quarter worth approximately $885,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on NUE shares. Argus raised Nucor to a “strong-buy” rating in a report on Monday, August 26th. BMO Capital Markets lowered their price objective on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 18th. Morgan Stanley reduced their target price on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, September 18th. JPMorgan Chase & Co. dropped their price target on shares of Nucor from $174.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Finally, 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 report on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Nucor currently has an average rating of “Moderate Buy” and an average target price of $191.43.

Nucor Stock Performance

NYSE NUE opened at $151.91 on Monday. The company’s 50 day simple moving average is $146.67 and its two-hundred day simple moving average is $161.75. 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. The stock has a market capitalization of $36.42 billion, a PE ratio of 8.94 and a beta of 1.55.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.37. The company 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 firm’s quarterly revenue was down 15.2% on a year-over-year basis. During the same quarter last year, the company earned $5.81 earnings per share. Analysts predict that Nucor Co. will post 9.1 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 annualized dividend and a yield of 1.42%. Nucor’s payout ratio is presently 12.71%.

Insiders Place Their Bets

In other news, EVP Daniel R. Needham sold 8,624 shares of the firm’s stock in a transaction 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 sale, the executive vice president now owns 99,049 shares in the company, valued at approximately $15,847,840. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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.