Rehmann Capital Advisory Group Cuts Stock Holdings in Nucor Co. (NYSE:NUE)

Rehmann Capital Advisory Group trimmed its holdings in shares of Nucor Co. (NYSE:NUE) by 6.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,808 shares of the basic materials company’s stock after selling 128 shares during the period. Rehmann Capital Advisory Group’s holdings in Nucor were worth $358,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NUE. Alps Advisors Inc. boosted its position in Nucor by 3.5% during the third quarter. Alps Advisors Inc. now owns 2,066 shares of the basic materials company’s stock valued at $323,000 after buying an additional 69 shares during the period. Harbour Investments Inc. raised its stake in shares of Nucor by 17.3% during the third quarter. Harbour Investments Inc. now owns 2,596 shares of the basic materials company’s stock valued at $406,000 after acquiring an additional 382 shares during the last quarter. Creative Planning raised its stake in shares of Nucor by 60.1% during the third quarter. Creative Planning now owns 172,440 shares of the basic materials company’s stock valued at $26,961,000 after acquiring an additional 64,716 shares during the last quarter. Integrated Advisors Network LLC raised its stake in shares of Nucor by 18.1% during the third quarter. Integrated Advisors Network LLC now owns 2,071 shares of the basic materials company’s stock valued at $324,000 after acquiring an additional 318 shares during the last quarter. Finally, Diversified Trust Co raised its stake in shares of Nucor by 3.1% during the third quarter. Diversified Trust Co now owns 5,290 shares of the basic materials company’s stock valued at $827,000 after acquiring an additional 159 shares during the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Stock Up 2.9 %

NUE traded up $4.39 during midday trading on Thursday, reaching $157.75. The company’s stock had a trading volume of 261,430 shares, compared to its average volume of 1,451,506. The firm has a market capitalization of $37.82 billion, a price-to-earnings ratio of 9.02 and a beta of 1.57. The company has a current ratio of 4.02, a quick ratio of 2.48 and a debt-to-equity ratio of 0.31. Nucor Co. has a 1 year low of $140.07 and a 1 year high of $203.00. The stock’s 50-day moving average is $163.13 and its 200-day moving average is $176.70.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, April 22nd. The basic materials company reported $3.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). The business had revenue of $8.14 billion during the quarter, compared to analysts’ expectations of $8.26 billion. Nucor had a return on equity of 19.62% and a net margin of 12.40%. Nucor’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter last year, the company posted $4.45 EPS. As a group, research analysts expect that Nucor Co. will post 10.84 EPS for the current year.

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, June 28th. Nucor’s payout ratio is 12.71%.

Analyst Ratings Changes

Several brokerages have recently commented on NUE. StockNews.com downgraded shares of Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Jefferies Financial Group began coverage on shares of Nucor in a research note on Monday, May 20th. They set a “hold” rating and a $190.00 price objective for the company. Bank of America lowered their price objective on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Citigroup raised shares of Nucor from a “neutral” rating to a “buy” rating and increased their price target for the stock from $180.00 to $240.00 in a research note on Wednesday, March 13th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Nucor from $190.00 to $180.00 and set a “neutral” rating for the company in a research note on Tuesday, June 11th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Nucor currently has a consensus rating of “Hold” and a consensus price target of $189.50.

Nucor 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.