Nucor Co. (NYSE:NUE) Shares Sold by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC decreased its holdings in shares of Nucor Co. (NYSE:NUE) by 15.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,470 shares of the basic materials company’s stock after selling 648 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Nucor were worth $522,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. McClarren Financial Advisors Inc. boosted its holdings in shares of Nucor by 129.0% during the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 89 shares during the period. Rise Advisors LLC acquired a new position in Nucor during the 1st quarter valued at about $27,000. Chilton Capital Management LLC grew its position in Nucor by 94.2% in the 1st quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 65 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of Nucor in the first quarter valued at approximately $28,000. Finally, Tompkins Financial Corp raised its holdings in shares of Nucor by 208.0% during the first quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after buying an additional 104 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Stock Performance

Shares of NYSE NUE opened at $152.98 on Tuesday. The stock’s fifty day simple moving average is $146.72 and its 200 day simple moving average is $161.43. The stock has a market capitalization of $36.68 billion, a price-to-earnings ratio of 9.00 and a beta of 1.55. The company has a quick ratio of 1.85, a current ratio of 2.93 and a debt-to-equity ratio of 0.26. Nucor Co. has a 52-week low of $133.42 and a 52-week high of $203.00.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.37. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The firm had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $7.69 billion. During the same quarter last year, the business posted $5.81 EPS. Nucor’s revenue was down 15.2% on a year-over-year basis. As a group, sell-side 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. Stockholders of record on Friday, September 27th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.41%. Nucor’s payout ratio is currently 12.71%.

Insider Transactions at Nucor

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. BMO Capital Markets lowered their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 18th. Bank of America decreased 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. Argus raised Nucor to a “strong-buy” rating in a report on Monday, August 26th. JPMorgan Chase & Co. lowered their price target on Nucor from $174.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Finally, Morgan Stanley cut their price objective on Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.43.

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.