Hollencrest Capital Management Has $149,000 Stock Position in Nucor Co. (NYSE:NUE)

Hollencrest Capital Management reduced its stake in Nucor Co. (NYSE:NUE) by 16.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 944 shares of the basic materials company’s stock after selling 185 shares during the quarter. Hollencrest Capital Management’s holdings in Nucor were worth $149,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Corient Private Wealth LLC raised its stake in Nucor by 4.6% in the 4th quarter. Corient Private Wealth LLC now owns 82,955 shares of the basic materials company’s stock worth $14,437,000 after purchasing an additional 3,653 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Nucor by 0.8% in the fourth quarter. Franklin Resources Inc. now owns 280,534 shares of the basic materials company’s stock valued at $48,824,000 after buying an additional 2,301 shares during the period. Dai ichi Life Insurance Company Ltd grew its position in Nucor by 83.2% during the fourth quarter. Dai ichi Life Insurance Company Ltd now owns 13,210 shares of the basic materials company’s stock worth $2,299,000 after buying an additional 6,000 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Nucor by 6.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the basic materials company’s stock worth $151,000 after acquiring an additional 54 shares during the period. Finally, Team Hewins LLC acquired a new position in Nucor in the 4th quarter valued at $297,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Transactions at Nucor

In related 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 value of $1,379,840.00. Following the completion of the sale, the executive vice president now directly owns 99,049 shares in the company, valued at $15,847,840. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.46% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on NUE shares. Bank of America reduced their target price on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Argus raised shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. 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. JPMorgan Chase & Co. raised shares of Nucor from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $170.00 to $174.00 in a research note on Monday, September 9th. Finally, Morgan Stanley cut 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 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $192.00.

Nucor Stock Down 1.8 %

Shares of NYSE:NUE opened at $146.31 on Friday. Nucor Co. has a 52-week low of $133.42 and a 52-week high of $203.00. 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 quick ratio of 1.85 and a current ratio of 2.93. The company has a fifty day moving average of $149.66 and a 200-day moving average of $166.15.

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

Nucor Dividend Announcement

The firm 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 1.48%. The ex-dividend date is Friday, September 27th. 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.