Nucor Co. (NYSE:NUE) Shares Purchased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. boosted its stake in shares of Nucor Co. (NYSE:NUE) by 2.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 6,832 shares of the basic materials company’s stock after purchasing an additional 194 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Nucor were worth $1,080,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in NUE. International Assets Investment Management LLC acquired a new stake in shares of Nucor in the 4th quarter worth approximately $625,000. Cerity Partners LLC grew its position in shares of Nucor by 227.9% in the fourth quarter. Cerity Partners LLC now owns 8,312 shares of the basic materials company’s stock valued at $1,447,000 after purchasing an additional 5,777 shares during the last quarter. SVB Wealth LLC increased its stake in shares of Nucor by 1.5% during the 4th quarter. SVB Wealth LLC now owns 3,656 shares of the basic materials company’s stock worth $636,000 after purchasing an additional 54 shares in the last quarter. Xponance Inc. raised its position in shares of Nucor by 3.7% during the 4th quarter. Xponance Inc. now owns 31,519 shares of the basic materials company’s stock worth $5,486,000 after purchasing an additional 1,134 shares during the last quarter. Finally, J.W. Cole Advisors Inc. purchased a new stake in Nucor in the 4th quarter valued at approximately $221,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the completion of the sale, the executive vice president now owns 99,049 shares of the company’s stock, valued at $15,847,840. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Nucor Stock Up 0.0 %

NUE opened at $145.23 on Monday. Nucor Co. has a 12 month low of $139.41 and a 12 month high of $203.00. The business has a 50-day moving average of $155.03 and a two-hundred day moving average of $173.19. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85. The stock has a market capitalization of $34.82 billion, a price-to-earnings ratio of 8.54 and a beta of 1.57.

Nucor (NYSE:NUE) last released its earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.37. The firm had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $7.69 billion. Nucor had a net margin of 10.45% and a return on equity of 15.69%. Nucor’s revenue was down 15.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.81 earnings per share. On average, research analysts expect that Nucor Co. will post 10.57 earnings per share for the current year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, June 28th were issued a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.49%. Nucor’s payout ratio is 12.71%.

Wall Street Analyst Weigh In

Several research firms have weighed in on NUE. JPMorgan Chase & Co. dropped their price target on Nucor from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Tuesday, July 16th. Jefferies Financial Group started coverage on Nucor in a research report on Monday, May 20th. They set a “hold” rating and a $190.00 price objective for the company. Morgan Stanley upgraded shares of Nucor from an “equal weight” rating to an “overweight” rating and reduced their target price for the company from $187.00 to $176.00 in a report on Thursday. StockNews.com cut shares of Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Finally, Bank of America cut their price objective on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $194.43.

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.