Blair William & Co. IL Has $5.02 Million Position in Nucor Co. (NYSE:NUE)

Blair William & Co. IL lessened its holdings in Nucor Co. (NYSE:NUE) by 1.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,735 shares of the basic materials company’s stock after selling 499 shares during the period. Blair William & Co. IL’s holdings in Nucor were worth $5,017,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Rise Advisors LLC acquired a new position in shares of Nucor in the 1st quarter worth approximately $27,000. Chilton Capital Management LLC raised its stake in Nucor by 94.2% during 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 in the last quarter. Central Pacific Bank Trust Division bought a new position in shares of Nucor during the first quarter valued at $28,000. Tompkins Financial Corp boosted its stake in shares of Nucor by 208.0% in the 1st quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 104 shares in the last quarter. Finally, Salomon & Ludwin LLC bought a new stake in shares of Nucor in the 1st quarter worth about $31,000. Institutional investors own 76.48% of the company’s stock.

Insider Buying and Selling at Nucor

In other news, EVP Daniel R. Needham sold 8,624 shares of the firm’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 directly owns 99,049 shares in the company, valued at approximately $15,847,840. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NUE shares. BMO Capital Markets cut their price target on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday. Argus raised Nucor to a “strong-buy” rating in a report on Monday, August 26th. JPMorgan Chase & Co. raised Nucor from a “neutral” rating to an “overweight” rating and raised their price target for the company from $170.00 to $174.00 in a report on Monday, September 9th. Bank of America reduced 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. Finally, Morgan Stanley lowered their target price on Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Nucor currently has an average rating of “Moderate Buy” and an average target price of $192.00.

Nucor Trading Down 1.8 %

NUE stock opened at $146.31 on Friday. The business has a fifty day moving average of $149.66 and a 200-day moving average of $166.02. The company has a market cap of $35.08 billion, a P/E ratio of 8.61 and a beta of 1.55. Nucor Co. has a twelve month low of $133.42 and a twelve month high of $203.00. 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 released its earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.37. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The company had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $7.69 billion. During the same period in the prior year, the company posted $5.81 EPS. The company’s revenue was down 15.2% compared to the same quarter last year. As a group, equities research analysts expect that Nucor Co. will post 9.95 EPS for the current year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Friday, September 27th. Nucor’s dividend payout ratio 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.