IVC Wealth Advisors LLC Sells 1,019 Shares of Nucor Co. (NYSE:NUE)

IVC Wealth Advisors LLC reduced its position in shares of Nucor Co. (NYSE:NUE) by 27.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,660 shares of the basic materials company’s stock after selling 1,019 shares during the quarter. IVC Wealth Advisors LLC’s holdings in Nucor were worth $400,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC grew its holdings in Nucor by 45.6% during the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 72 shares during the period. Custom Index Systems LLC raised its position in shares of Nucor by 98.6% in the third quarter. Custom Index Systems LLC now owns 4,310 shares of the basic materials company’s stock valued at $648,000 after purchasing an additional 2,140 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in shares of Nucor by 11.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 130,143 shares of the basic materials company’s stock worth $19,317,000 after buying an additional 13,068 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Nucor by 0.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 61,023 shares of the basic materials company’s stock worth $9,174,000 after buying an additional 257 shares during the period. Finally, Arkadios Wealth Advisors lifted its position in Nucor by 11.9% during the third quarter. Arkadios Wealth Advisors now owns 2,912 shares of the basic materials company’s stock worth $438,000 after acquiring an additional 310 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Activity

In other news, EVP Daniel R. Needham sold 8,624 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the completion of the transaction, the executive vice president now owns 99,049 shares of the company’s stock, valued at approximately $15,847,840. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.46% of the stock is currently owned by insiders.

Nucor Stock Performance

Nucor stock opened at $141.47 on Monday. The stock has a market cap of $33.92 billion, a PE ratio of 8.32 and a beta of 1.55. The company has a quick ratio of 1.85, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. Nucor Co. has a 12-month low of $133.42 and a 12-month high of $203.00. The business’s 50-day moving average price is $147.66 and its two-hundred day moving average price is $158.29.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.40 by $0.09. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The firm’s revenue was down 15.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.57 EPS. As a group, analysts expect that Nucor Co. will post 9.08 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Friday, September 27th. Nucor’s dividend payout ratio (DPR) is currently 12.71%.

Wall Street Analyst Weigh In

A number of research analysts have commented on NUE shares. JPMorgan Chase & Co. decreased their price objective on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. BMO Capital Markets decreased their target price on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 18th. Morgan Stanley lowered their price objective on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Argus upgraded Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $190.57.

Nucor Company 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.