TCI Wealth Advisors Inc. Lowers Stake in Nucor Co. (NYSE:NUE)

TCI Wealth Advisors Inc. lessened its stake in shares of Nucor Co. (NYSE:NUE) by 3.4% in the third quarter, Holdings Channel reports. The institutional investor owned 2,066 shares of the basic materials company’s stock after selling 72 shares during the period. TCI Wealth Advisors Inc.’s holdings in Nucor were worth $311,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Chilton Capital Management LLC increased its stake in Nucor by 94.2% during the 1st quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 65 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Nucor in the 1st quarter worth $28,000. Salomon & Ludwin LLC bought a new position in shares of Nucor during the first quarter valued at $31,000. McClarren Financial Advisors Inc. increased its holdings in Nucor by 129.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock worth $25,000 after buying an additional 89 shares in the last quarter. Finally, Brown Lisle Cummings Inc. bought a new position in Nucor during the 3rd quarter valued at about $30,000. 76.48% of the stock is owned by institutional investors.

Insider Transactions at Nucor

In related news, EVP Daniel R. Needham sold 8,624 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total value of $1,379,840.00. Following the completion of the sale, the executive vice president now owns 99,049 shares in the company, valued at approximately $15,847,840. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

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

Nucor Price Performance

NUE stock traded up $5.22 during trading on Monday, hitting $146.69. 540,183 shares of the company’s stock traded hands, compared to its average volume of 1,495,134. Nucor Co. has a 52 week low of $133.42 and a 52 week high of $203.00. The stock has a market capitalization of $35.17 billion, a price-to-earnings ratio of 8.65 and a beta of 1.55. The business has a fifty day simple moving average of $147.66 and a 200 day simple moving average of $158.29. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.85 and a current ratio of 2.59.

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

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Friday, September 27th. Nucor’s dividend payout ratio (DPR) is 12.71%.

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.