Kingswood Wealth Advisors LLC Has $338,000 Stock Holdings in Nucor Corporation $NUE

Kingswood Wealth Advisors LLC cut its stake in shares of Nucor Corporation (NYSE:NUE) by 37.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,606 shares of the basic materials company’s stock after selling 1,573 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Nucor were worth $338,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of NUE. Park Avenue Securities LLC grew its holdings in shares of Nucor by 5.8% during the first quarter. Park Avenue Securities LLC now owns 7,501 shares of the basic materials company’s stock valued at $903,000 after buying an additional 413 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Nucor by 25.1% during the first quarter. Farther Finance Advisors LLC now owns 2,344 shares of the basic materials company’s stock valued at $280,000 after buying an additional 470 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Nucor during the first quarter valued at $717,000. GAMMA Investing LLC grew its holdings in shares of Nucor by 48.6% during the first quarter. GAMMA Investing LLC now owns 4,203 shares of the basic materials company’s stock valued at $506,000 after buying an additional 1,375 shares in the last quarter. Finally, Integrated Advisors Network LLC grew its holdings in shares of Nucor by 99.8% during the first quarter. Integrated Advisors Network LLC now owns 5,054 shares of the basic materials company’s stock valued at $608,000 after buying an additional 2,525 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Stock Performance

NUE opened at $133.68 on Friday. The company has a market cap of $30.68 billion, a PE ratio of 24.13, a price-to-earnings-growth ratio of 0.95 and a beta of 1.75. The stock has a 50-day moving average of $141.25 and a 200-day moving average of $129.31. Nucor Corporation has a 52-week low of $97.59 and a 52-week high of $170.52. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 2.83.

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

Nucor Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Nucor in a report on Wednesday. Bank of America boosted their target price on Nucor from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Morgan Stanley boosted their target price on Nucor from $134.00 to $149.00 and gave the company an “overweight” rating in a research note on Friday, June 20th. The Goldman Sachs Group lowered their target price on Nucor from $182.00 to $173.00 and set a “buy” rating on the stock in a research note on Monday, September 22nd. Finally, JPMorgan Chase & Co. boosted their target price on Nucor from $143.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, July 14th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Nucor presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.60.

Insider Transactions at Nucor

In other Nucor news, EVP Allen C. Behr sold 8,021 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $143.38, for a total value of $1,150,050.98. Following the completion of the transaction, the executive vice president owned 82,703 shares of the company’s stock, valued at $11,857,956.14. This represents a 8.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Daniel R. Needham sold 7,200 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $146.00, for a total value of $1,051,200.00. Following the completion of the transaction, the executive vice president directly owned 92,179 shares of the company’s stock, valued at approximately $13,458,134. This trade represents a 7.24% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,309 shares of company stock worth $4,553,771. Insiders own 0.46% of the company’s stock.

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.