SeaCrest Wealth Management LLC Lowers Stake in Nucor Corporation $NUE

SeaCrest Wealth Management LLC lessened its position in shares of Nucor Corporation (NYSE:NUE) by 20.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,113 shares of the basic materials company’s stock after selling 805 shares during the period. SeaCrest Wealth Management LLC’s holdings in Nucor were worth $403,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Putney Financial Group LLC purchased a new stake in Nucor during the fourth quarter valued at about $29,000. MV Capital Management Inc. boosted its position in shares of Nucor by 73.5% in the first quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company’s stock worth $34,000 after buying an additional 119 shares during the period. Fourth Dimension Wealth LLC purchased a new stake in shares of Nucor in the fourth quarter worth about $41,000. Geneos Wealth Management Inc. boosted its position in shares of Nucor by 81.8% in the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock worth $41,000 after buying an additional 153 shares during the period. Finally, Park Square Financial Group LLC purchased a new stake in shares of Nucor in the fourth quarter worth about $48,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insiders Place Their Bets

In related news, insider Michael D. Keller sold 6,088 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $148.41, for a total value of $903,520.08. Following the completion of the transaction, the insider directly owned 22,464 shares of the company’s stock, valued at $3,333,882.24. This represents a 21.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kenneth Rex Query sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $130.37, for a total value of $1,303,700.00. Following the completion of the transaction, the executive vice president directly owned 94,080 shares of the company’s stock, valued at $12,265,209.60. This trade represents a 9.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,397 shares of company stock valued at $6,763,814. 0.71% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Bank of America upped their target price on Nucor from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. UBS Group decreased their target price on Nucor from $153.00 to $147.00 and set a “buy” rating for the company in a research report on Thursday, May 29th. BMO Capital Markets raised Nucor from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $140.00 to $145.00 in a research report on Monday, June 2nd. Morgan Stanley upped their target price on Nucor from $134.00 to $149.00 and gave the stock an “overweight” rating in a research report on Friday, June 20th. Finally, JPMorgan Chase & Co. boosted their price target on Nucor from $143.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, July 14th. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $156.20.

Nucor Stock Down 0.9%

NYSE:NUE opened at $133.03 on Monday. The firm has a market capitalization of $30.54 billion, a PE ratio of 24.01, a price-to-earnings-growth ratio of 0.90 and a beta of 1.76. The stock has a 50 day moving average of $142.95 and a 200-day moving average of $128.58. Nucor Corporation has a 52 week low of $97.59 and a 52 week 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.

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

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 30th. Nucor’s dividend payout ratio is 39.71%.

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.