Capital Investment Advisors LLC Sells 99 Shares of Nucor Co. (NYSE:NUE)

Capital Investment Advisors LLC reduced its stake in shares of Nucor Co. (NYSE:NUE) by 6.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,436 shares of the basic materials company’s stock after selling 99 shares during the quarter. Capital Investment Advisors LLC’s holdings in Nucor were worth $227,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in NUE. Rise Advisors LLC bought a new stake in shares of Nucor in the 1st quarter valued at about $27,000. Chilton Capital Management LLC boosted its stake in Nucor by 94.2% in the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 65 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in Nucor in the first quarter worth $28,000. Criterion Capital Advisors LLC acquired a new position in shares of Nucor during the fourth quarter worth $25,000. Finally, Tompkins Financial Corp lifted its holdings in shares of Nucor by 208.0% during the 1st quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 104 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Insider Activity

In related news, EVP Daniel R. Needham sold 8,624 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the completion of the sale, the executive vice president now directly owns 99,049 shares in the company, valued at $15,847,840. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

NUE has been the topic of several research analyst reports. Bank of America dropped their target price on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. StockNews.com cut shares of Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. cut their price target on shares of Nucor from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 16th. BMO Capital Markets lowered their price objective on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a research note on Monday, June 17th. Finally, Jefferies Financial Group started coverage on Nucor in a research report on Monday, May 20th. They issued a “hold” rating and a $190.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $191.29.

Nucor Stock Performance

Shares of NYSE:NUE traded down $0.51 during midday trading on Friday, reaching $145.14. The company’s stock had a trading volume of 954,510 shares, compared to its average volume of 1,485,771. The stock has a fifty day moving average of $156.99 and a 200 day moving average of $174.47. The firm has a market capitalization of $34.80 billion, a PE ratio of 8.54 and a beta of 1.57. The company has a quick ratio of 1.85, a current ratio of 2.93 and a debt-to-equity ratio of 0.26. Nucor Co. has a twelve month low of $140.07 and a twelve month high of $203.00.

Nucor (NYSE:NUE) last issued its earnings results on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.37. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The business had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $7.69 billion. During the same period in the prior year, the business earned $5.81 earnings per share. The company’s quarterly revenue was down 15.2% compared to the same quarter last year. On average, equities analysts expect that Nucor Co. will post 10.57 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, June 28th were issued a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $2.16 annualized dividend and a dividend yield of 1.49%. Nucor’s dividend payout ratio is presently 12.71%.

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.