Mutual of America Capital Management LLC Trims Holdings in Nucor Co. (NYSE:NUE)

Mutual of America Capital Management LLC lowered its holdings in Nucor Co. (NYSE:NUE) by 6.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 30,237 shares of the basic materials company’s stock after selling 1,996 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Nucor were worth $4,780,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Rise Advisors LLC purchased a new stake in Nucor in the first quarter worth $27,000. Chilton Capital Management LLC lifted its position in shares of Nucor by 94.2% in the 1st 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 purchased a new position in shares of Nucor during the first quarter valued at about $28,000. Tompkins Financial Corp raised its stake in Nucor by 208.0% in the first quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock worth $30,000 after buying an additional 104 shares in the last quarter. Finally, Salomon & Ludwin LLC purchased a new stake in Nucor in the first quarter worth about $31,000. 76.48% of the stock is currently owned by institutional investors.

Insider Transactions at Nucor

In related news, EVP Daniel R. Needham sold 8,624 shares of Nucor stock in a transaction dated 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 approximately $15,847,840. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.46% of the company’s stock.

Nucor Price Performance

NUE opened at $146.31 on Friday. The firm has a market cap of $35.08 billion, a PE ratio of 8.61 and a beta of 1.55. The stock has a 50-day moving average price of $149.66 and a 200-day moving average price of $166.02. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85.

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

Nucor Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.