Reilly Financial Advisors LLC Trims Holdings in Nucor Co. (NYSE:NUE)

Reilly Financial Advisors LLC trimmed its position in Nucor Co. (NYSE:NUE) by 37.8% during the second quarter, Holdings Channel.com reports. The firm owned 819 shares of the basic materials company’s stock after selling 498 shares during the period. Reilly Financial Advisors LLC’s holdings in Nucor were worth $45,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Belpointe Asset Management LLC purchased a new position in Nucor in the 1st quarter valued at about $144,000. Hills Bank & Trust Co. lifted its holdings in Nucor by 1.2% in the 2nd quarter. Hills Bank & Trust Co. now owns 20,045 shares of the basic materials company’s stock valued at $1,104,000 after purchasing an additional 247 shares in the last quarter. Empowered Funds LLC purchased a new position in Nucor in the 2nd quarter valued at about $2,396,000. Oakbrook Investments LLC increased its stake in shares of Nucor by 77.1% during the 1st quarter. Oakbrook Investments LLC now owns 28,620 shares of the basic materials company’s stock valued at $1,670,000 after acquiring an additional 12,460 shares during the last quarter. Finally, RNC Capital Management LLC increased its stake in shares of Nucor by 24.0% during the 1st quarter. RNC Capital Management LLC now owns 73,214 shares of the basic materials company’s stock valued at $4,272,000 after acquiring an additional 14,190 shares during the last quarter. Institutional investors own 76.30% of the company’s stock.

NUE has been the subject of a number of research analyst reports. KeyCorp dropped their price objective on shares of Nucor from $66.00 to $61.00 and set an “overweight” rating for the company in a research note on Monday, June 17th. UBS Group set a $59.00 target price on shares of Nucor and gave the stock a “hold” rating in a research report on Wednesday, May 8th. ValuEngine downgraded shares of Nucor from a “hold” rating to a “sell” rating in a research report on Thursday. Citigroup set a $60.00 target price on shares of Nucor and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Finally, Bank of America downgraded shares of Nucor from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $68.00 to $50.00 in a research report on Friday, May 31st. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $62.90.

NUE traded down $0.49 on Friday, reaching $52.57. 1,805,592 shares of the company’s stock were exchanged, compared to its average volume of 2,038,134. The company has a market capitalization of $16.57 billion, a P/E ratio of 6.90, a price-to-earnings-growth ratio of 0.93 and a beta of 1.61. Nucor Co. has a twelve month low of $47.13 and a twelve month high of $66.03. The company’s 50 day simple moving average is $54.75. The company has a current ratio of 3.56, a quick ratio of 1.76 and a debt-to-equity ratio of 0.40.

Nucor (NYSE:NUE) last released its quarterly earnings results on Thursday, July 18th. The basic materials company reported $1.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.01. The firm had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $6 billion. Nucor had a return on equity of 21.65% and a net margin of 8.84%. Nucor’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.07 EPS. As a group, equities research analysts forecast that Nucor Co. will post 4.89 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, June 28th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Thursday, June 27th. Nucor’s dividend payout ratio is presently 21.00%.

In other Nucor news, insider Raymond S. Napolitan, Jr. sold 7,214 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $56.32, for a total value of $406,292.48. Following the completion of the transaction, the insider now owns 143,826 shares in the company, valued at approximately $8,100,280.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ladd R. Hall sold 28,998 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $56.90, for a total value of $1,649,986.20. Following the completion of the transaction, the insider now owns 292,776 shares of the company’s stock, valued at approximately $16,658,954.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,203 shares of company stock valued at $3,465,601. 0.96% of the stock is owned by company insiders.

About Nucor

Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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