Nucor Corporation $NUE Shares Sold by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group lessened its position in Nucor Corporation (NYSE:NUE) by 8.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,505 shares of the basic materials company’s stock after selling 221 shares during the period. Rehmann Capital Advisory Group’s holdings in Nucor were worth $325,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Matrix Trust Co raised its position in shares of Nucor by 53.8% in the second quarter. Matrix Trust Co now owns 240 shares of the basic materials company’s stock valued at $31,000 after buying an additional 84 shares during the last quarter. Geneos Wealth Management Inc. increased its position in Nucor by 81.8% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 153 shares during the last quarter. Meeder Asset Management Inc. grew its stake in Nucor by 209.6% during the first quarter. Meeder Asset Management Inc. now owns 418 shares of the basic materials company’s stock worth $50,000 after buying an additional 283 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its stake in Nucor by 49.8% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 442 shares of the basic materials company’s stock worth $57,000 after buying an additional 147 shares during the period. Finally, Proathlete Wealth Management LLC purchased a new stake in Nucor during the second quarter worth approximately $58,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Trading Up 0.2%

NYSE NUE opened at $138.79 on Friday. The company has a market capitalization of $31.86 billion, a price-to-earnings ratio of 25.05, a price-to-earnings-growth ratio of 0.98 and a beta of 1.75. Nucor Corporation has a 12 month low of $97.59 and a 12 month high of $170.52. The company’s fifty day moving average price is $140.44 and its two-hundred day moving average price is $130.73. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.83 and a quick ratio of 1.51.

Nucor (NYSE:NUE) last issued its earnings results on Monday, July 28th. The basic materials company reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.06. The company had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.47 billion. Nucor had a net margin of 4.21% and a return on equity of 6.65%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.68 earnings per share. As a group, research analysts predict that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 30th. Nucor’s dividend payout ratio is 39.71%.

Insider Buying and Selling at Nucor

In other Nucor news, insider Michael D. Keller sold 6,088 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $148.41, for a total transaction of $903,520.08. Following the sale, the insider directly owned 22,464 shares of the company’s stock, valued at approximately $3,333,882.24. This represents a 21.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel R. Needham sold 7,200 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $146.00, for a total transaction of $1,051,200.00. Following the sale, the executive vice president directly owned 92,179 shares in the company, valued at $13,458,134. This trade represents a 7.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,309 shares of company stock valued at $4,553,771 over the last three months. 0.46% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NUE shares. The Goldman Sachs Group lowered their price target on shares of Nucor from $182.00 to $173.00 and set a “buy” rating for the company in a report on Monday, September 22nd. Wells Fargo & Company lowered their price target on shares of Nucor from $146.00 to $140.00 and set an “equal weight” rating for the company in a report on Thursday, September 18th. JPMorgan Chase & Co. raised their price target on shares of Nucor from $165.00 to $172.00 and gave the company an “overweight” rating in a report on Monday, October 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nucor in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group upgraded shares of Nucor from a “hold” rating to a “buy” rating and increased their price objective for the company from $135.00 to $170.00 in a research note on Thursday, July 31st. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Nucor has a consensus rating of “Moderate Buy” and a consensus target price of $157.60.

About Nucor

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.