Clearview Wealth Advisors LLC Lowers Position in Nucor Co. (NYSE:NUE)

Clearview Wealth Advisors LLC lessened its stake in Nucor Co. (NYSE:NUE) by 2.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,212 shares of the basic materials company’s stock after selling 117 shares during the period. Clearview Wealth Advisors LLC’s holdings in Nucor were worth $633,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Integrated Advisors Network LLC lifted its position in shares of Nucor by 3.4% during the 4th quarter. Integrated Advisors Network LLC now owns 2,141 shares of the basic materials company’s stock valued at $373,000 after buying an additional 70 shares in the last quarter. Syon Capital LLC lifted its position in shares of Nucor by 8.8% during the 4th quarter. Syon Capital LLC now owns 1,919 shares of the basic materials company’s stock valued at $334,000 after buying an additional 155 shares in the last quarter. EP Wealth Advisors LLC lifted its position in shares of Nucor by 33.0% during the 4th quarter. EP Wealth Advisors LLC now owns 1,905 shares of the basic materials company’s stock valued at $332,000 after buying an additional 473 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Nucor by 188.6% during the 4th quarter. Wellington Management Group LLP now owns 64,537 shares of the basic materials company’s stock valued at $11,232,000 after buying an additional 42,178 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of Nucor by 4.0% during the 4th quarter. Fisher Asset Management LLC now owns 153,521 shares of the basic materials company’s stock valued at $26,719,000 after buying an additional 5,892 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Argus upgraded Nucor to a “strong-buy” rating in a report on Monday, August 26th. Morgan Stanley decreased their price objective on Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. JPMorgan Chase & Co. decreased their price objective on Nucor from $174.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Bank of America decreased their price objective on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Finally, BMO Capital Markets cut their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Nucor has a consensus rating of “Moderate Buy” and an average target price of $191.43.

Nucor Stock Down 0.8 %

Shares of NYSE:NUE opened at $151.62 on Wednesday. The business has a 50-day moving average price of $146.75 and a 200 day moving average price of $161.11. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $36.35 billion, a price-to-earnings ratio of 8.92 and a beta of 1.55. Nucor Co. has a 12-month low of $133.42 and a 12-month high of $203.00.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.37. The business had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $7.69 billion. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The business’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same quarter last year, the business posted $5.81 EPS. Sell-side analysts expect that Nucor Co. will post 9.1 EPS for the current year.

Nucor Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Friday, September 27th. Nucor’s dividend payout ratio (DPR) is 12.71%.

Insiders Place Their Bets

In other 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 transaction, the executive vice president now owns 99,049 shares of the company’s stock, valued at approximately $15,847,840. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

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.