Nucor Co. (NYSE:NUE) Stock Position Reduced by 180 Wealth Advisors LLC

180 Wealth Advisors LLC cut its stake in shares of Nucor Co. (NYSE:NUE) by 64.0% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,322 shares of the basic materials company’s stock after selling 2,350 shares during the period. 180 Wealth Advisors LLC’s holdings in Nucor were worth $262,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Criterion Capital Advisors LLC purchased a new position in Nucor during the fourth quarter valued at approximately $25,000. Rise Advisors LLC bought a new stake in Nucor in the first quarter worth approximately $27,000. Tompkins Financial Corp grew its position in Nucor by 208.0% in the first quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 104 shares in the last quarter. Fortitude Family Office LLC grew 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. Finally, Valley National Advisers Inc. grew its position in Nucor by 716.7% in the fourth quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 172 shares in the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NUE has been the subject of several recent research reports. StockNews.com downgraded shares of Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. BMO Capital Markets decreased their target price on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a research report on Monday, June 17th. Jefferies Financial Group initiated coverage on shares of Nucor in a research report on Monday, May 20th. They issued a “hold” rating and a $190.00 target price for the company. JPMorgan Chase & Co. decreased their target price on shares of Nucor from $190.00 to $180.00 and set a “neutral” rating for the company in a research report on Tuesday, June 11th. Finally, Bank of America decreased their target price on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $189.67.

Nucor Price Performance

NYSE:NUE opened at $158.08 on Friday. The stock has a market cap of $37.90 billion, a P/E ratio of 9.30 and a beta of 1.60. Nucor Co. has a one year low of $140.07 and a one year high of $203.00. The company has a fifty day moving average price of $166.46 and a 200 day moving average price of $177.69. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.02 and a quick ratio of 2.48.

Nucor (NYSE:NUE) last released its earnings results on Monday, April 22nd. The basic materials company reported $3.46 EPS for the quarter, missing the consensus estimate of $3.62 by ($0.16). The company had revenue of $8.14 billion for the quarter, compared to analyst estimates of $8.26 billion. Nucor had a net margin of 12.40% and a return on equity of 19.62%. Nucor’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.45 earnings per share. Analysts anticipate that Nucor Co. will post 10.84 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, June 28th will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.37%. The ex-dividend date is Friday, June 28th. Nucor’s payout ratio is currently 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.