Nucor Corporation $NUE Shares Sold by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group lessened its position in Nucor Corporation (NYSE:NUE) by 8.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,505 shares of the basic materials company’s stock after selling 221 shares during the period. Rehmann Capital Advisory Group’s holdings in Nucor were worth $325,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of NUE. Diamond Hill Capital Management Inc. acquired a new stake in shares of Nucor in the 1st quarter worth about $194,804,000. Nuveen LLC bought a new position in Nucor in the 1st quarter valued at about $141,216,000. Vanguard Group Inc. grew its position in Nucor by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 28,959,327 shares of the basic materials company’s stock valued at $3,484,965,000 after buying an additional 745,671 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Nucor by 355.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 539,310 shares of the basic materials company’s stock valued at $72,327,000 after buying an additional 420,970 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Nucor by 18.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,309,452 shares of the basic materials company’s stock valued at $277,920,000 after buying an additional 355,364 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Activity

In other Nucor news, EVP Daniel R. Needham sold 7,200 shares of the firm’s stock in a transaction dated 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 in the company, valued at $13,458,134. This trade represents a 7.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kenneth Rex Query sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $144.90, for a total transaction of $1,449,000.00. Following the completion of the transaction, the executive vice president owned 84,080 shares of the company’s stock, valued at approximately $12,183,192. The trade was a 10.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,309 shares of company stock valued at $4,553,771. Corporate insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

NUE has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Nucor in a research report on Wednesday, October 8th. JPMorgan Chase & Co. increased their target price on shares of Nucor from $165.00 to $172.00 and gave the company an “overweight” rating in a research report on Monday, October 13th. Jefferies Financial Group upgraded shares of Nucor from a “hold” rating to a “buy” rating and increased their target price for the company from $135.00 to $170.00 in a research report on Thursday, July 31st. The Goldman Sachs Group decreased their target price on shares of Nucor from $182.00 to $173.00 and set a “buy” rating for the company in a research report on Monday, September 22nd. Finally, Bank of America increased their target price on shares of Nucor from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.60.

Nucor Stock Performance

NYSE:NUE opened at $138.79 on Friday. Nucor Corporation has a twelve month low of $97.59 and a twelve month high of $170.52. The company has a current ratio of 2.83, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average of $140.44 and a 200-day moving average of $130.73. The firm has a market cap of $31.86 billion, a price-to-earnings ratio of 25.05, a price-to-earnings-growth ratio of 0.98 and a beta of 1.75.

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

Nucor Announces Dividend

The company also recently announced 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. This represents a $2.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Tuesday, September 30th. Nucor’s dividend payout ratio (DPR) is presently 39.71%.

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.