Sequoia Financial Advisors LLC Sells 115 Shares of Nucor Corporation $NUE

Sequoia Financial Advisors LLC lessened its stake in shares of Nucor Corporation (NYSE:NUE) by 1.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,631 shares of the basic materials company’s stock after selling 115 shares during the period. Sequoia Financial Advisors LLC’s holdings in Nucor were worth $859,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Matrix Trust Co increased its position in Nucor by 53.8% during the 2nd quarter. Matrix Trust Co now owns 240 shares of the basic materials company’s stock valued at $31,000 after buying an additional 84 shares in the last quarter. Geneos Wealth Management Inc. increased its position in Nucor by 81.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after buying an additional 153 shares in the last quarter. Spirit of America Management Corp NY bought a new position in Nucor during the 1st quarter valued at approximately $48,000. Meeder Asset Management Inc. increased its position in Nucor by 209.6% during the 1st quarter. Meeder Asset Management Inc. now owns 418 shares of the basic materials company’s stock valued at $50,000 after buying an additional 283 shares in the last quarter. Finally, Putney Financial Group LLC increased its position in Nucor by 86.8% during the 1st quarter. Putney Financial Group LLC now owns 467 shares of the basic materials company’s stock valued at $56,000 after buying an additional 217 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NUE. The Goldman Sachs Group reduced their price objective on Nucor from $182.00 to $173.00 and set a “buy” rating for the company in a research report on Monday, September 22nd. Wells Fargo & Company reduced their target price on Nucor from $146.00 to $140.00 and set an “equal weight” rating for the company in a report on Thursday, September 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Nucor in a report on Wednesday, October 8th. Bank of America lifted their target price on Nucor from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Finally, Jefferies Financial Group raised Nucor from a “hold” rating to a “buy” rating and lifted their target price for the stock from $135.00 to $170.00 in a report on Thursday, July 31st. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Nucor presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.60.

Nucor Stock Performance

NUE stock opened at $131.70 on Friday. The company has a market cap of $30.23 billion, a P/E ratio of 23.77, a price-to-earnings-growth ratio of 0.94 and a beta of 1.75. Nucor Corporation has a 1 year low of $97.59 and a 1 year high of $170.52. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.83 and a quick ratio of 1.51. The stock’s fifty day moving average price is $140.92 and its 200-day moving average price is $129.76.

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

Nucor Dividend Announcement

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

Insider Transactions at Nucor

In other news, EVP Kenneth Rex Query sold 10,000 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $144.90, for a total value of $1,449,000.00. Following the transaction, the executive vice president directly owned 84,080 shares in the company, valued at $12,183,192. This trade represents a 10.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Allen C. Behr sold 8,021 shares of the firm’s stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $143.38, for a total value of $1,150,050.98. Following the completion of the transaction, the executive vice president owned 82,703 shares in the company, valued at approximately $11,857,956.14. This trade represents a 8.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,309 shares of company stock valued at $4,553,771. Corporate insiders own 0.46% of the company’s stock.

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.