TCI Wealth Advisors Inc. Reduces Holdings in Nucor Co. (NYSE:NUE)

TCI Wealth Advisors Inc. lowered its position in Nucor Co. (NYSE:NUE) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,136 shares of the basic materials company’s stock after selling 100 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in Nucor were worth $372,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Keybank National Association OH lifted its position in shares of Nucor by 3.4% during the third quarter. Keybank National Association OH now owns 19,246 shares of the basic materials company’s stock worth $3,009,000 after purchasing an additional 639 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new stake in shares of Nucor in the fourth quarter valued at approximately $3,481,000. AIA Group Ltd grew its stake in Nucor by 53.2% in the fourth quarter. AIA Group Ltd now owns 13,226 shares of the basic materials company’s stock worth $2,302,000 after purchasing an additional 4,592 shares in the last quarter. Sapient Capital LLC purchased a new position in Nucor during the 4th quarter worth $1,230,000. Finally, abrdn plc raised its position in Nucor by 41.7% during the 4th quarter. abrdn plc now owns 154,745 shares of the basic materials company’s stock valued at $26,932,000 after purchasing an additional 45,521 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Stock Down 2.0 %

Shares of NUE traded down $3.54 during midday trading on Monday, hitting $170.38. 1,017,426 shares of the company’s stock traded hands, compared to its average volume of 1,432,669. Nucor Co. has a 1 year low of $129.79 and a 1 year high of $203.00. The firm’s fifty day moving average is $189.15 and its 200-day moving average is $175.42. The company has a current ratio of 4.02, a quick ratio of 2.48 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $40.89 billion, a price-to-earnings ratio of 10.29 and a beta of 1.65.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share for the quarter, missing the consensus estimate of $3.62 by ($0.16). Nucor had a return on equity of 19.62% and a net margin of 12.40%. The business had revenue of $8.14 billion during the quarter, compared to analyst estimates of $8.26 billion. During the same period in the prior year, the business posted $4.45 EPS. Nucor’s revenue was down 6.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Nucor Co. will post 12.55 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, March 28th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.27%. Nucor’s dividend payout ratio is currently 12.71%.

Insider Transactions at Nucor

In other Nucor news, EVP Douglas J. Jellison sold 19,506 shares of Nucor stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the completion of the transaction, the executive vice president now owns 120,738 shares in the company, valued at approximately $23,351,936.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Douglas J. Jellison sold 19,506 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.41, for a total value of $3,772,655.46. Following the completion of the sale, the executive vice president now owns 120,738 shares of the company’s stock, valued at approximately $23,351,936.58. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Allen C. Behr sold 10,000 shares of Nucor stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total transaction of $1,901,900.00. Following the completion of the sale, the executive vice president now owns 80,902 shares in the company, valued at approximately $15,386,751.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,651 shares of company stock worth $6,283,648. Company insiders own 0.64% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and raised their price target for the company from $180.00 to $240.00 in a research note on Wednesday, March 13th. UBS Group started coverage on shares of Nucor in a report on Tuesday, January 16th. They issued a “buy” rating and a $210.00 price target for the company. BMO Capital Markets dropped their price objective on shares of Nucor from $210.00 to $200.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 24th. StockNews.com downgraded shares of Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. dropped their target price on Nucor from $195.00 to $190.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Nucor currently has an average rating of “Hold” and an average target price of $193.14.

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.