Osaic Holdings Inc. Lowers Stake in Nucor Co. (NYSE:NUE)

Osaic Holdings Inc. cut its stake in Nucor Co. (NYSE:NUE) by 34.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 100,259 shares of the basic materials company’s stock after selling 52,743 shares during the quarter. Osaic Holdings Inc.’s holdings in Nucor were worth $19,853,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. TIAA Trust National Association bought a new stake in Nucor during the first quarter valued at about $213,000. Cornerstone Advisors LLC bought a new stake in shares of Nucor in the 1st quarter valued at about $1,187,000. Spirepoint Private Client LLC purchased a new position in shares of Nucor in the 1st quarter worth approximately $839,000. Pinnacle Wealth Planning Services Inc. raised its stake in shares of Nucor by 26.4% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 2,673 shares of the basic materials company’s stock worth $529,000 after acquiring an additional 558 shares in the last quarter. Finally, Mizuho Markets Americas LLC lifted its position in Nucor by 89.7% during the first quarter. Mizuho Markets Americas LLC now owns 58,309 shares of the basic materials company’s stock valued at $11,539,000 after acquiring an additional 27,576 shares during the last quarter. 76.48% of the stock is owned by institutional investors.

Nucor Stock Performance

Shares of NYSE:NUE traded up $0.84 during midday trading on Monday, reaching $163.34. The company’s stock had a trading volume of 1,402,203 shares, compared to its average volume of 1,465,484. The company has a quick ratio of 2.48, a current ratio of 4.02 and a debt-to-equity ratio of 0.31. The stock has a fifty day moving average of $161.88 and a 200 day moving average of $176.06. Nucor Co. has a twelve month low of $140.07 and a twelve month high of $203.00. The firm has a market capitalization of $39.16 billion, a PE ratio of 9.56 and a beta of 1.57.

Nucor (NYSE:NUE) last issued its earnings results on Monday, April 22nd. The basic materials company reported $3.46 EPS for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). The company had revenue of $8.14 billion during the quarter, compared to analysts’ expectations of $8.26 billion. Nucor had a return on equity of 19.62% and a net margin of 12.40%. 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 company earned $4.45 EPS. On average, equities analysts expect that Nucor Co. will post 10.72 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, June 28th will be given a $0.54 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.16 annualized dividend and a yield of 1.32%. Nucor’s dividend payout ratio is presently 12.71%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. decreased their price target on Nucor from $180.00 to $170.00 and set a “neutral” rating for the company in a research note on Tuesday, July 16th. BMO Capital Markets dropped their price target on Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a research note on Monday, June 17th. Bank of America decreased 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. Finally, Jefferies Financial Group began coverage on shares of Nucor in a research report on Monday, May 20th. They set a “hold” rating and a $190.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $191.29.

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.