Nucor Co. (NYSE:NUE) Position Cut by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC trimmed its holdings in Nucor Co. (NYSE:NUE) by 1.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,257 shares of the basic materials company’s stock after selling 121 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Nucor were worth $941,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. DeDora Capital Inc. grew its holdings in Nucor by 4.6% in the 3rd quarter. DeDora Capital Inc. now owns 3,031 shares of the basic materials company’s stock worth $456,000 after buying an additional 134 shares in the last quarter. Grace & White Inc. NY grew its holdings in Nucor by 1.9% in the 3rd quarter. Grace & White Inc. NY now owns 109,239 shares of the basic materials company’s stock worth $16,423,000 after buying an additional 2,012 shares in the last quarter. Waterway Wealth Management LLC grew its holdings in Nucor by 7.6% in the 3rd quarter. Waterway Wealth Management LLC now owns 3,740 shares of the basic materials company’s stock worth $562,000 after buying an additional 264 shares in the last quarter. Whittier Trust Co. grew its holdings in Nucor by 384.6% in the 3rd quarter. Whittier Trust Co. now owns 1,260 shares of the basic materials company’s stock worth $189,000 after buying an additional 1,000 shares in the last quarter. Finally, Carolina Wealth Advisors LLC bought a new position in Nucor in the 3rd quarter worth approximately $43,000. 76.48% of the stock is owned by institutional investors.

Insider Activity

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 value of $1,379,840.00. Following the completion of the sale, the executive vice president now owns 99,049 shares in the company, valued at $15,847,840. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.46% of the company’s stock.

Nucor Price Performance

Shares of NYSE:NUE opened at $141.47 on Friday. Nucor Co. has a one year low of $133.42 and a one year high of $203.00. The stock has a fifty day moving average of $147.73 and a 200-day moving average of $159.27. The company has a market capitalization of $33.58 billion, a PE ratio of 13.67 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 2.59.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.09. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The company had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. During the same quarter in the prior year, the firm earned $4.57 EPS. The company’s quarterly revenue was down 15.2% compared to the same quarter last year. As a group, equities analysts anticipate that Nucor Co. will post 9.08 EPS for the current fiscal year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be issued a $0.54 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.53%. Nucor’s payout ratio is currently 20.87%.

Analyst Ratings Changes

A number of brokerages have issued reports on NUE. Argus raised Nucor to a “strong-buy” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. decreased their price target on Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research note on Wednesday. Morgan Stanley decreased their price target on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, BMO Capital Markets decreased their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $190.57.

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.