Institute for Wealth Management LLC. lowered its stake in Nucor Co. (NYSE:NUE) by 12.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 5,269 shares of the basic materials company’s stock after selling 728 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Nucor were worth $290,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Coastal Investment Advisors Inc. raised its holdings in shares of Nucor by 79.9% during the second quarter. Coastal Investment Advisors Inc. now owns 556 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 247 shares in the last quarter. Berman Capital Advisors LLC raised its holdings in shares of Nucor by 37.9% during the first quarter. Berman Capital Advisors LLC now owns 677 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 186 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Nucor by 300.0% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 800 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 600 shares in the last quarter. TRUE Private Wealth Advisors bought a new position in shares of Nucor during the second quarter valued at approximately $44,000. Finally, Quadrant Capital Group LLC raised its holdings in shares of Nucor by 46.7% during the first quarter. Quadrant Capital Group LLC now owns 905 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 288 shares in the last quarter. Hedge funds and other institutional investors own 75.94% of the company’s stock.

Shares of NYSE NUE traded up $0.50 during trading on Wednesday, reaching $49.53. The company had a trading volume of 13,791 shares, compared to its average volume of 1,944,139. Nucor Co. has a 12-month low of $47.13 and a 12-month high of $66.03. The stock has a market cap of $15.00 billion, a PE ratio of 6.50, a P/E/G ratio of 0.83 and a beta of 1.61. The business’s 50-day moving average is $53.54 and its 200 day moving average is $55.90. The company has a quick ratio of 1.76, a current ratio of 3.56 and a debt-to-equity ratio of 0.40.

Nucor (NYSE:NUE) last released its earnings results on Thursday, July 18th. The basic materials company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. Nucor had a return on equity of 21.65% and a net margin of 8.84%. The firm had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $6 billion. During the same period in the prior year, the firm posted $2.07 earnings per share. The company’s quarterly revenue was down 8.7% on a year-over-year basis. On average, analysts anticipate that Nucor Co. will post 4.89 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, June 28th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.23%. Nucor’s dividend payout ratio is currently 21.00%.

In related news, insider Raymond S. Napolitan, Jr. sold 7,214 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $56.32, for a total transaction of $406,292.48. Following the sale, the insider now directly owns 143,826 shares of the company’s stock, valued at $8,100,280.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Leon J. Topalian sold 5,798 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $56.47, for a total value of $327,413.06. Following the sale, the executive vice president now directly owns 93,559 shares in the company, valued at $5,283,276.73. The disclosure for this sale can be found here. Over the last three months, insiders sold 61,203 shares of company stock worth $3,465,601. Insiders own 0.96% of the company’s stock.

A number of research firms have issued reports on NUE. UBS Group set a $59.00 price objective on Nucor and gave the stock a “hold” rating in a report on Wednesday, May 8th. Deutsche Bank downgraded Nucor from a “buy” rating to a “hold” rating in a report on Thursday, May 30th. ValuEngine downgraded Nucor from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Goldman Sachs Group decreased their price objective on Nucor from $70.00 to $59.00 and set a “buy” rating for the company in a report on Tuesday, June 4th. Finally, Citigroup set a $60.00 price objective on Nucor and gave the stock a “buy” rating in a report on Tuesday, June 11th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $62.90.

About Nucor

Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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