Braun Stacey Associates Inc. Decreases Stock Holdings in Nucor Corporation $NUE

Braun Stacey Associates Inc. lowered its position in shares of Nucor Corporation (NYSE:NUE) by 9.1% in the second quarter, HoldingsChannel.com reports. The firm owned 127,156 shares of the basic materials company’s stock after selling 12,792 shares during the quarter. Braun Stacey Associates Inc.’s holdings in Nucor were worth $28,324,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Stance Capital LLC purchased a new stake in Nucor during the 3rd quarter worth about $25,000. Transamerica Financial Advisors LLC purchased a new position in shares of Nucor in the 2nd quarter valued at about $25,000. Strive Financial Group LLC acquired a new stake in shares of Nucor during the 4th quarter worth about $27,000. Manning & Napier Advisors LLC acquired a new stake in shares of Nucor during the 2nd quarter worth about $27,000. Finally, Bell Investment Advisors Inc purchased a new stake in Nucor during the second quarter worth approximately $28,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Thomas J. Batterbee sold 4,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $261.02, for a total value of $1,044,080.00. Following the completion of the sale, the executive vice president directly owned 16,138 shares of the company’s stock, valued at approximately $4,212,340.76. This represents a 19.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John J. Hollatz sold 10,560 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total transaction of $2,729,337.60. Following the sale, the executive vice president owned 97,865 shares of the company’s stock, valued at $25,294,187.90. This trade represents a 9.74% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 18,528 shares of company stock valued at $4,793,035. Insiders own 0.62% of the company’s stock.

Nucor Price Performance

Shares of NYSE NUE opened at $250.84 on Friday. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. Nucor Corporation has a twelve month low of $131.32 and a twelve month high of $280.11. The stock has a 50 day moving average of $246.64 and a two-hundred day moving average of $218.97. The stock has a market cap of $56.91 billion, a P/E ratio of 20.00, a P/E/G ratio of 0.94 and a beta of 1.89.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, July 27th. The basic materials company reported $4.84 earnings per share for the quarter, beating the consensus estimate of $4.46 by $0.38. The business had revenue of $10.40 billion during the quarter, compared to the consensus estimate of $10.15 billion. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The company’s revenue was up 23.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.60 earnings per share. On average, research analysts forecast that Nucor Corporation will post 17.95 earnings per share for the current year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were paid a dividend of $0.56 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. Nucor’s dividend payout ratio is currently 17.86%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NUE. Morgan Stanley set a $270.00 price target on Nucor in a report on Wednesday, July 29th. BMO Capital Markets boosted their price objective on shares of Nucor from $285.00 to $295.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Bank of America lowered their target price on shares of Nucor from $290.00 to $280.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Argus lifted their price target on shares of Nucor from $200.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Finally, UBS Group boosted their price target on shares of Nucor from $224.00 to $256.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $272.38.

Nucor Profile

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value?added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.