Capital Investment Advisors LLC Has $732,000 Stock Position in Nucor Corporation $NUE

Capital Investment Advisors LLC decreased its stake in Nucor Corporation (NYSE:NUE) by 17.8% in the second quarter, HoldingsChannel reports. The firm owned 5,648 shares of the basic materials company’s stock after selling 1,220 shares during the period. Capital Investment Advisors LLC’s holdings in Nucor were worth $732,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of 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 purchasing an additional 745,671 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of 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 purchasing an additional 355,364 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Nucor by 5.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,772,831 shares of the basic materials company’s stock valued at $213,342,000 after purchasing an additional 92,363 shares during the period. Diamond Hill Capital Management Inc. acquired a new position in shares of Nucor in the 1st quarter valued at $194,804,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Nucor by 16.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,610,933 shares of the basic materials company’s stock valued at $193,863,000 after purchasing an additional 226,343 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Stock Up 2.6%

Shares of Nucor stock opened at $138.96 on Friday. Nucor Corporation has a 1 year low of $97.59 and a 1 year high of $170.52. The stock has a 50-day moving average price of $141.99 and a 200 day moving average price of $128.95. 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 market cap of $31.90 billion, a P/E ratio of 25.08, a P/E/G ratio of 0.93 and a beta of 1.76.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, July 28th. The basic materials company reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.06. Nucor had a return on equity of 6.65% and a net margin of 4.21%.The company had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.47 billion. During the same period last year, the business earned $2.68 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, analysts expect that Nucor Corporation will post 7.64 EPS for the current fiscal 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 dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.6%. Nucor’s dividend payout ratio (DPR) is 39.71%.

Analysts Set New Price Targets

NUE has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their price target on Nucor from $146.00 to $140.00 and set an “equal weight” rating for the company in a research report on Thursday, September 18th. 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 note on Monday, September 22nd. Bank of America increased their price objective on Nucor from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, September 15th. Jefferies Financial Group raised Nucor from a “hold” rating to a “buy” rating and increased their price objective for the stock from $135.00 to $170.00 in a research note on Thursday, July 31st. Finally, Morgan Stanley increased their price objective on Nucor from $134.00 to $149.00 and gave the stock an “overweight” rating in a research note on Friday, June 20th. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $156.60.

Insider Transactions at Nucor

In other news, EVP Allen C. Behr sold 8,021 shares of the firm’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $143.38, for a total transaction of $1,150,050.98. Following the completion of the sale, the executive vice president directly owned 82,703 shares of the company’s stock, valued at $11,857,956.14. This trade represents a 8.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael D. Keller sold 6,088 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $148.41, for a total value of $903,520.08. Following the sale, the insider directly owned 22,464 shares of the company’s stock, valued at $3,333,882.24. This trade represents a 21.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,309 shares of company stock valued at $4,553,771 over the last 90 days. Company insiders own 0.46% of the company’s stock.

Nucor 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.