Wealth Enhancement Advisory Services LLC Sells 10,541 Shares of Nucor Co. (NYSE:NUE)

Wealth Enhancement Advisory Services LLC lowered its stake in Nucor Co. (NYSE:NUE) by 27.4% during the second quarter, Holdings Channel reports. The firm owned 27,946 shares of the basic materials company’s stock after selling 10,541 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Nucor were worth $1,557,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in Nucor by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,772,938 shares of the basic materials company’s stock valued at $247,306,000 after purchasing an additional 82,259 shares in the last quarter. Geode Capital Management LLC grew its holdings in Nucor by 11.3% during 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 in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in Nucor during the 1st quarter valued at $682,000. Sciencast Management LP bought a new position in Nucor during the 1st quarter valued at $321,000. Finally, Raymond James Trust N.A. boosted its stake in Nucor by 2.6% during the 1st quarter. Raymond James Trust N.A. now owns 9,823 shares of the basic materials company’s stock valued at $573,000 after acquiring an additional 246 shares during the last quarter. Institutional investors own 75.83% of the company’s stock.

NYSE NUE traded up $1.43 during trading hours on Friday, reaching $49.14. 587,649 shares of the company traded hands, compared to its average volume of 2,110,374. Nucor Co. has a 12 month low of $47.13 and a 12 month high of $66.03. The company has a current ratio of 3.56, a quick ratio of 1.76 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $15.21 billion, a PE ratio of 6.45, a PEG ratio of 0.86 and a beta of 1.61. The company has a 50 day moving average of $54.13 and a two-hundred day moving average of $56.10.



Nucor (NYSE:NUE) last posted its quarterly earnings data on Thursday, July 18th. The basic materials company reported $1.26 EPS for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.01. Nucor had a net margin of 8.84% and a return on equity of 21.65%. The firm had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $6 billion. During the same period in the prior year, the firm posted $2.07 EPS. The firm’s revenue was down 8.7% compared to the same quarter last year. On average, equities research analysts anticipate that Nucor Co. will post 4.89 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, June 28th were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.26%. Nucor’s payout ratio is currently 21.00%.

In other news, EVP Leon J. Topalian sold 5,798 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $56.47, for a total value of $327,413.06. Following the transaction, the executive vice president now directly owns 93,559 shares in the company, valued at approximately $5,283,276.73. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Raymond S. Napolitan, Jr. sold 7,214 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $56.32, for a total transaction of $406,292.48. Following the completion of the transaction, the insider now owns 143,826 shares in the company, valued at $8,100,280.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,203 shares of company stock worth $3,465,601. Insiders own 0.96% of the company’s stock.

A number of research firms have commented on NUE. Deutsche Bank downgraded shares of Nucor from a “buy” rating to a “hold” rating in a research note on Thursday, May 30th. Credit Suisse Group set a $61.00 price objective on shares of Nucor and gave the company a “buy” rating in a research note on Friday, July 19th. Goldman Sachs Group reduced their price objective on shares of Nucor from $70.00 to $59.00 and set a “buy” rating on the stock in a research note on Tuesday, June 4th. ValuEngine downgraded shares of Nucor from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, UBS Group set a $59.00 price objective on shares of Nucor and gave the company a “hold” rating in a research note on Wednesday, May 8th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $62.90.

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.

Further Reading: Green Investing

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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