Profund Advisors LLC Lowers Stock Holdings in Nucor Co. (NYSE:NUE)

Profund Advisors LLC lessened its holdings in Nucor Co. (NYSE:NUE) by 7.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 6,030 shares of the basic materials company’s stock after selling 500 shares during the period. Profund Advisors LLC’s holdings in Nucor were worth $953,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Parallel Advisors LLC boosted its stake in Nucor by 6.1% in the 4th quarter. Parallel Advisors LLC now owns 2,288 shares of the basic materials company’s stock worth $398,000 after purchasing an additional 131 shares during the period. United Services Automobile Association increased its holdings in Nucor by 1.1% in the 4th quarter. United Services Automobile Association now owns 54,337 shares of the basic materials company’s stock valued at $9,457,000 after acquiring an additional 582 shares during the last quarter. 3Chopt Investment Partners LLC purchased a new stake in Nucor in the 4th quarter worth $800,000. TD Asset Management Inc boosted its holdings in shares of Nucor by 4.4% during the 4th quarter. TD Asset Management Inc now owns 85,183 shares of the basic materials company’s stock valued at $14,825,000 after purchasing an additional 3,567 shares during the last quarter. Finally, Focus Financial Network Inc. ADV purchased a new position in shares of Nucor during the fourth quarter valued at about $404,000. 76.48% of the stock is owned by institutional investors.

Insider Activity

In other Nucor 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 transaction 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.46% of the company’s stock.

Nucor Trading Up 0.5 %

NUE opened at $147.00 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.85 and a current ratio of 2.93. The stock’s 50 day moving average price is $149.30 and its 200-day moving average price is $165.61. Nucor Co. has a one year low of $133.42 and a one year high of $203.00. The stock has a market cap of $35.25 billion, a price-to-earnings ratio of 8.65 and a beta of 1.55.

Nucor (NYSE:NUE) last released its earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.37. The business had revenue of $8.08 billion for the quarter, compared to analyst estimates of $7.69 billion. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The business’s revenue was down 15.2% compared to the same quarter last year. During the same quarter last year, the firm posted $5.81 earnings per share. On average, equities analysts forecast that Nucor Co. will post 9.95 EPS for the current year.

Nucor Dividend Announcement

The business 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. This represents a $2.16 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Friday, September 27th. Nucor’s dividend payout ratio is presently 12.71%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Bank of America dropped their price target on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. JPMorgan Chase & Co. raised shares of Nucor from a “neutral” rating to an “overweight” rating and raised their target price for the company from $170.00 to $174.00 in a report on Monday, September 9th. Argus raised shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. BMO Capital Markets dropped their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday, September 18th. Finally, Morgan Stanley decreased their target price on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. Three 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $192.00.

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.