Kingsview Wealth Management LLC Sells 238 Shares of Nucor Co. (NYSE:NUE)

Kingsview Wealth Management LLC decreased its position in shares of Nucor Co. (NYSE:NUE) by 5.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 4,032 shares of the basic materials company’s stock after selling 238 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Nucor were worth $606,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. National Pension Service boosted its position in shares of Nucor by 3.2% during the 3rd quarter. National Pension Service now owns 652,502 shares of the basic materials company’s stock worth $98,097,000 after acquiring an additional 20,258 shares in the last quarter. CX Institutional boosted its holdings in shares of Nucor by 52.8% in the 2nd quarter. CX Institutional now owns 17,245 shares of the basic materials company’s stock valued at $2,726,000 after purchasing an additional 5,960 shares in the last quarter. BIP Wealth LLC bought a new position in shares of Nucor in the 3rd quarter valued at $681,000. Ascension Asset Management LLC acquired a new position in shares of Nucor during the 2nd quarter worth $885,000. Finally, Kimelman & Baird LLC bought a new stake in shares of Nucor during the 2nd quarter worth $6,655,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Nucor news, CFO Stephen D. Laxton sold 4,712 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total value of $798,825.36. Following the transaction, the chief financial officer now owns 82,132 shares in the company, valued at approximately $13,923,837.96. This represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Allen C. Behr sold 4,968 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $159.72, for a total value of $793,488.96. Following the sale, the executive vice president now owns 85,376 shares of the company’s stock, valued at approximately $13,636,254.72. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,680 shares of company stock worth $4,773,724. Corporate insiders own 0.64% of the company’s stock.

Nucor Trading Up 0.5 %

NYSE:NUE opened at $154.77 on Thursday. Nucor Co. has a 52 week low of $133.42 and a 52 week high of $203.00. The firm’s fifty day moving average is $150.35 and its 200-day moving average is $153.68. The firm has a market cap of $36.34 billion, a P/E ratio of 14.95 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.09. The firm had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The business’s revenue was down 15.2% compared to the same quarter last year. During the same period last year, the business posted $4.57 EPS. Equities analysts expect that Nucor Co. will post 8.5 earnings per share for the current year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, September 27th were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.40%. The ex-dividend date was Friday, September 27th. Nucor’s dividend payout ratio (DPR) is presently 20.87%.

Wall Street Analyst Weigh In

NUE has been the topic of a number of recent analyst reports. Argus upgraded Nucor to a “strong-buy” rating in a research report on Monday, August 26th. BMO Capital Markets lowered their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research report on Wednesday, September 18th. JPMorgan Chase & Co. cut their target price on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, Morgan Stanley lowered their price target on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Nucor presently has an average rating of “Moderate Buy” and a consensus price target of $190.57.

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.