SeaCrest Wealth Management LLC Sells 176 Shares of Nucor Co. (NYSE:NUE)

SeaCrest Wealth Management LLC reduced its holdings in Nucor Co. (NYSE:NUE) by 4.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,881 shares of the basic materials company’s stock after selling 176 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Nucor were worth $768,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Nucor in the 4th quarter worth approximately $377,631,000. Pacer Advisors Inc. grew its position in shares of Nucor by 13.0% in the 4th quarter. Pacer Advisors Inc. now owns 2,070,960 shares of the basic materials company’s stock worth $360,430,000 after buying an additional 237,752 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Nucor by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,499,893 shares of the basic materials company’s stock worth $261,041,000 after buying an additional 36,304 shares during the last quarter. First Trust Advisors LP grew its position in shares of Nucor by 6.7% in the 4th quarter. First Trust Advisors LP now owns 1,367,209 shares of the basic materials company’s stock worth $237,949,000 after buying an additional 85,475 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in shares of Nucor by 2.1% in the 4th quarter. Nordea Investment Management AB now owns 1,094,177 shares of the basic materials company’s stock worth $190,376,000 after buying an additional 22,596 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors.

Nucor Price Performance

Shares of NYSE:NUE opened at $156.46 on Thursday. The stock has a fifty day simple moving average of $165.08 and a two-hundred day simple moving average of $177.51. The stock has a market capitalization of $37.51 billion, a price-to-earnings ratio of 9.20 and a beta of 1.57. Nucor Co. has a 12-month low of $140.07 and a 12-month high of $203.00. The company has a current ratio of 4.02, a quick ratio of 2.48 and a debt-to-equity ratio of 0.31.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, April 22nd. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). The company had revenue of $8.14 billion for the quarter, compared to analysts’ expectations of $8.26 billion. Nucor had a net margin of 12.40% and a return on equity of 19.62%. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.45 EPS. On average, research analysts anticipate that Nucor Co. will post 10.84 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, June 28th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Friday, June 28th. Nucor’s dividend payout ratio is currently 12.71%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NUE. Bank of America cut their price objective on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. JPMorgan Chase & Co. lowered their target price on Nucor from $190.00 to $180.00 and set a “neutral” rating for the company in a research note on Tuesday, June 11th. BMO Capital Markets lowered their target price on Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a research note on Monday, June 17th. Jefferies Financial Group initiated coverage on Nucor in a research note on Monday, May 20th. They issued a “hold” rating and a $190.00 target price for the company. Finally, StockNews.com cut Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Nucor currently has an average rating of “Hold” and a consensus target price of $189.67.

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.