Nucor Co. (NYSE:NUE) Shares Sold by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group lowered its holdings in Nucor Co. (NYSE:NUE) by 6.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,808 shares of the basic materials company’s stock after selling 128 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Nucor were worth $358,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Compagnie Lombard Odier SCmA acquired a new stake in Nucor in the fourth quarter valued at $3,481,000. Newbridge Financial Services Group Inc. increased its position in shares of Nucor by 94.2% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,855 shares of the basic materials company’s stock valued at $323,000 after buying an additional 900 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Nucor by 6.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 262,385 shares of the basic materials company’s stock valued at $45,665,000 after buying an additional 15,058 shares in the last quarter. Norden Group LLC purchased a new position in shares of Nucor in the first quarter valued at $1,847,000. Finally, AIA Group Ltd increased its position in shares of Nucor by 53.2% in the fourth quarter. AIA Group Ltd now owns 13,226 shares of the basic materials company’s stock valued at $2,302,000 after buying an additional 4,592 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. Jefferies Financial Group assumed 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. BMO Capital Markets dropped their price objective on Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a research report on Monday, June 17th. StockNews.com cut Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Finally, Bank of America lowered their price target on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $189.50.

Nucor Stock Performance

NUE stock traded up $4.39 during trading on Thursday, reaching $157.75. 261,430 shares of the company’s stock were exchanged, compared to its average volume of 1,451,506. The company has a quick ratio of 2.48, a current ratio of 4.02 and a debt-to-equity ratio of 0.31. Nucor Co. has a 1-year low of $140.07 and a 1-year high of $203.00. The company’s fifty day moving average price is $163.13 and its 200-day moving average price is $176.70. The firm has a market cap of $37.82 billion, a PE ratio of 9.02 and a beta of 1.57.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). Nucor had a return on equity of 19.62% and a net margin of 12.40%. The business had revenue of $8.14 billion for the quarter, compared to analyst estimates of $8.26 billion. During the same quarter last year, the firm posted $4.45 EPS. The company’s revenue was down 6.6% compared to the same quarter last year. On average, research analysts expect that Nucor Co. will post 10.84 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, June 28th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.16 annualized dividend and a dividend yield of 1.37%. Nucor’s dividend payout ratio (DPR) is 12.71%.

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.