United Capital Financial Advisers LLC Decreases Holdings in Nucor Co. (NYSE:NUE)

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United Capital Financial Advisers LLC trimmed its holdings in shares of Nucor Co. (NYSE:NUE) by 87.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,895 shares of the basic materials company’s stock after selling 158,016 shares during the period. United Capital Financial Advisers LLC’s holdings in Nucor were worth $1,206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northern Trust Corp lifted its holdings in shares of Nucor by 1.3% in the 1st quarter. Northern Trust Corp now owns 5,538,288 shares of the basic materials company’s stock valued at $323,158,000 after purchasing an additional 72,896 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Nucor by 11.3% in the 4th quarter. Geode Capital Management LLC now owns 4,998,590 shares of the basic materials company’s stock valued at $258,607,000 after purchasing an additional 506,988 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Nucor by 3.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,472,281 shares of the basic materials company’s stock valued at $81,123,000 after purchasing an additional 48,508 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Nucor by 12.0% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,377,402 shares of the basic materials company’s stock valued at $80,371,000 after purchasing an additional 148,039 shares during the last quarter. Finally, PGGM Investments lifted its holdings in shares of Nucor by 5.1% in the 2nd quarter. PGGM Investments now owns 1,092,957 shares of the basic materials company’s stock valued at $60,222,000 after purchasing an additional 53,145 shares during the last quarter. 77.34% of the stock is owned by institutional investors.

In related news, Chairman John J. Ferriola sold 19,193 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $56.37, for a total value of $1,081,909.41. Following the sale, the chairman now owns 475,921 shares in the company, valued at approximately $26,827,666.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ladd R. Hall sold 28,998 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $56.90, for a total value of $1,649,986.20. Following the completion of the sale, the insider now owns 292,776 shares in the company, valued at approximately $16,658,954.40. The disclosure for this sale can be found here. Insiders have sold a total of 61,203 shares of company stock worth $3,465,601 in the last quarter. 0.96% of the stock is currently owned by insiders.

NYSE NUE traded up $0.62 on Friday, hitting $53.34. 800,628 shares of the company’s stock were exchanged, compared to its average volume of 1,763,161. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 1.76. The firm’s 50-day moving average price is $50.40 and its two-hundred day moving average price is $54.38. Nucor Co. has a fifty-two week low of $46.10 and a fifty-two week high of $66.03. The firm has a market cap of $16.09 billion, a price-to-earnings ratio of 7.00, a P/E/G ratio of 0.93 and a beta of 1.62.

Nucor (NYSE:NUE) last released its earnings results on Thursday, July 18th. The basic materials company reported $1.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.01. Nucor had a return on equity of 21.65% and a net margin of 8.84%. The company had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $6 billion. During the same quarter in the previous year, the firm posted $2.07 EPS. The firm’s quarterly revenue was down 8.7% on a year-over-year basis. On average, research analysts predict that Nucor Co. will post 4.77 earnings per share for the current fiscal year.

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 given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.00%. The ex-dividend date is Thursday, September 26th. Nucor’s payout ratio is 21.00%.

NUE has been the topic of several recent research reports. Goldman Sachs Group dropped their price target on Nucor from $70.00 to $59.00 and set a “buy” rating on the stock in a research report on Tuesday, June 4th. KeyCorp dropped their price target on Nucor from $61.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 27th. Deutsche Bank cut Nucor from a “buy” rating to a “hold” rating in a research report on Thursday, May 30th. Bank of America dropped their price target on Nucor from $50.00 to $46.00 and set an “underperform” rating on the stock in a research report on Wednesday, September 4th. Finally, Citigroup set a $60.00 price target on Nucor and gave the company a “buy” rating in a research report on Tuesday, June 11th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $62.40.

Nucor Company Profile

Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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