Global Retirement Partners LLC Cuts Stock Position in Nucor Co. (NYSE:NUE)

Global Retirement Partners LLC cut its holdings in Nucor Co. (NYSE:NUE) by 4.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,621 shares of the basic materials company’s stock after selling 114 shares during the quarter. Global Retirement Partners LLC’s holdings in Nucor were worth $394,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. McClarren Financial Advisors Inc. boosted its stake in shares of Nucor by 129.0% in the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 89 shares during the last quarter. Chilton Capital Management LLC boosted its stake in shares of Nucor by 94.2% in the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock worth $27,000 after acquiring 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 worth approximately $28,000. Salomon & Ludwin LLC acquired a new stake in shares of Nucor in the first quarter worth approximately $31,000. Finally, HHM Wealth Advisors LLC boosted its stake in shares of Nucor by 769.2% in the second quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 200 shares during the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor Stock Performance

Shares of Nucor stock opened at $156.11 on Tuesday. Nucor Co. has a 52 week low of $133.42 and a 52 week high of $203.00. The business’s fifty day simple moving average is $147.74 and its 200-day simple moving average is $159.90. The firm has a market cap of $37.43 billion, a PE ratio of 9.18 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 (NYSE:NUE) last announced its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, beating the consensus estimate of $2.31 by $0.37. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The business had revenue of $8.08 billion for the quarter, compared to analyst estimates of $7.69 billion. During the same quarter in the prior year, the company posted $5.81 EPS. The company’s quarterly revenue was down 15.2% on a year-over-year basis. Equities analysts forecast that Nucor Co. will post 9.08 earnings per share for the current year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Friday, September 27th. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NUE shares. Morgan Stanley lowered their price target on Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 18th. Argus raised Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Bank of America lowered their price objective on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. JPMorgan Chase & Co. lowered their price objective on Nucor from $174.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Finally, 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. Three equities research 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.43.

Insider Activity

In other news, EVP Daniel R. Needham sold 8,624 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total value of $1,379,840.00. Following the transaction, the executive vice president now owns 99,049 shares of the company’s stock, valued at $15,847,840. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.46% of the company’s stock.

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.