Brighton Jones LLC Has $351,000 Stake in Nucor Co. (NYSE:NUE)

Brighton Jones LLC lifted its position in shares of Nucor Co. (NYSE:NUE) by 3.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,218 shares of the basic materials company’s stock after purchasing an additional 71 shares during the quarter. Brighton Jones LLC’s holdings in Nucor were worth $351,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of NUE. McClarren Financial Advisors Inc. raised its position 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 worth $25,000 after purchasing an additional 89 shares during the period. Rise Advisors LLC acquired a new position in shares of Nucor during the first quarter worth approximately $27,000. Chilton Capital Management LLC raised its position in shares of 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 purchasing an additional 65 shares during the period. Central Pacific Bank Trust Division acquired a new position in shares of Nucor during the first quarter worth approximately $28,000. Finally, Tompkins Financial Corp raised its position 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 worth $30,000 after purchasing an additional 104 shares during the period. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor Stock Down 1.8 %

Shares of NYSE:NUE opened at $146.31 on Monday. The company has a market capitalization of $35.08 billion, a PE ratio of 8.61 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85. The business has a fifty day moving average price of $149.66 and a two-hundred day moving average price of $165.89. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00.

Nucor (NYSE:NUE) last announced its quarterly earnings data 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. The firm had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $7.69 billion. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The business’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.81 EPS. Analysts forecast that Nucor Co. will post 9.95 earnings per share for the current year.

Nucor Dividend Announcement

The company 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 dividend of $0.54 per share. The ex-dividend date is Friday, September 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.48%. Nucor’s payout ratio is 12.71%.

Analyst Ratings Changes

NUE has been the subject of a number of analyst reports. Bank of America lowered their price target on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. BMO Capital Markets lowered their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research report on Wednesday, September 18th. JPMorgan Chase & Co. raised Nucor from a “neutral” rating to an “overweight” rating and increased their price target for the company from $170.00 to $174.00 in a research report on Monday, September 9th. Argus raised Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Finally, Morgan Stanley lowered their price target on Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a research report on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.00.

Insider Transactions at Nucor

In other news, EVP Daniel R. Needham sold 8,624 shares of the stock in a transaction on 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 transaction, the executive vice president now 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 this hyperlink. 0.46% of the stock is owned by corporate insiders.

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.