SeaCrest Wealth Management LLC Sells 176 Shares of Nucor Co. (NYSE:NUE)

SeaCrest Wealth Management LLC trimmed its stake in shares of Nucor Co. (NYSE:NUE) by 4.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,881 shares of the basic materials company’s stock after selling 176 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Nucor were worth $768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. SVB Wealth LLC lifted its stake in Nucor by 1.5% in the fourth quarter. SVB Wealth LLC now owns 3,656 shares of the basic materials company’s stock valued at $636,000 after buying an additional 54 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Nucor by 6.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the basic materials company’s stock valued at $151,000 after buying an additional 54 shares during the period. Kestra Private Wealth Services LLC lifted its stake in Nucor by 0.8% in the fourth quarter. Kestra Private Wealth Services LLC now owns 7,191 shares of the basic materials company’s stock valued at $1,252,000 after buying an additional 55 shares during the period. Householder Group Estate & Retirement Specialist LLC lifted its stake in Nucor by 36.6% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 220 shares of the basic materials company’s stock valued at $38,000 after buying an additional 59 shares during the period. Finally, Fortitude Family Office LLC lifted its stake in Nucor by 54.1% in the first quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock valued at $33,000 after buying an additional 59 shares during the period. 76.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NUE has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their price target on Nucor from $190.00 to $180.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 11th. StockNews.com lowered Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Jefferies Financial Group initiated coverage on Nucor in a research report on Monday, May 20th. They set a “hold” rating and a $190.00 target price on the stock. BMO Capital Markets lowered their target price on Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a research report on Monday, June 17th. Finally, Citigroup raised Nucor from a “neutral” rating to a “buy” rating and upped their target price for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Nucor currently has an average rating of “Hold” and an average price target of $189.67.

Nucor Stock Performance

Shares of Nucor stock opened at $156.46 on Thursday. The stock has a fifty day simple moving average of $165.08 and a 200 day simple moving average of $177.51. Nucor Co. has a 12-month low of $140.07 and a 12-month high of $203.00. The company has a market capitalization of $37.51 billion, a P/E ratio of 9.20 and a beta of 1.57. The company has a current ratio of 4.02, a quick ratio of 2.48 and a debt-to-equity ratio of 0.31.

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

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, June 28th will be paid a $0.54 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.16 dividend on an annualized basis and a yield of 1.38%. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

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.