Kingsview Wealth Management LLC Sells 238 Shares of Nucor Co. (NYSE:NUE)

Kingsview Wealth Management LLC lowered its stake in Nucor Co. (NYSE:NUE) by 5.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,032 shares of the basic materials company’s stock after selling 238 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Nucor were worth $606,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in NUE. McClarren Financial Advisors Inc. lifted its holdings in shares of Nucor by 129.0% in the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 89 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Nucor in the 3rd quarter valued at approximately $26,000. Coastline Trust Co acquired a new position in Nucor during the 3rd quarter worth approximately $29,000. Brown Lisle Cummings Inc. bought a new position in shares of Nucor during the 3rd quarter worth approximately $30,000. Finally, Salomon & Ludwin LLC lifted its position in shares of Nucor by 45.6% in the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 72 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Stock Up 0.5 %

NUE stock opened at $154.77 on Thursday. Nucor Co. has a 1-year low of $133.42 and a 1-year high of $203.00. The business’s 50 day simple moving average is $150.35 and its 200 day simple moving average is $153.68. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $36.34 billion, a PE ratio of 14.95 and a beta of 1.55.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.09. The company had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The company’s revenue was down 15.2% on a year-over-year basis. During the same period in the prior year, the firm earned $4.57 earnings per share. As a group, research analysts anticipate that Nucor Co. will post 8.5 EPS for the current year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend was Friday, September 27th. Nucor’s payout ratio is 20.87%.

Insider Transactions at Nucor

In other Nucor news, EVP Kenneth Rex Query sold 9,000 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the transaction, the executive vice president now owns 98,770 shares in the company, valued at $14,499,436. This trade represents a 8.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Leon J. Topalian sold 11,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the completion of the sale, the chief executive officer now directly owns 172,136 shares of the company’s stock, valued at approximately $29,109,918.96. The trade was a 6.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,680 shares of company stock worth $4,773,724. Company insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their price target on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Argus upgraded Nucor to a “strong-buy” rating in a report on Monday, August 26th. BMO Capital Markets decreased their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday, September 18th. Finally, Morgan Stanley cut their price objective on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Nucor has a consensus rating of “Moderate Buy” and an average price target of $190.57.

Nucor Company 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.