Envestnet Asset Management Inc. Trims Stake in Nucor Corporation $NUE

Envestnet Asset Management Inc. reduced its stake in Nucor Corporation (NYSE:NUE) by 1.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 327,796 shares of the basic materials company’s stock after selling 3,714 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Nucor were worth $44,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. RFG Advisory LLC raised its position in shares of Nucor by 2.9% during the 2nd quarter. RFG Advisory LLC now owns 2,462 shares of the basic materials company’s stock valued at $319,000 after buying an additional 69 shares in the last quarter. Whittier Trust Co. raised its position in Nucor by 5.6% during the third quarter. Whittier Trust Co. now owns 1,330 shares of the basic materials company’s stock valued at $184,000 after purchasing an additional 70 shares in the last quarter. IMA Advisory Services Inc. lifted its stake in Nucor by 51.4% during the second quarter. IMA Advisory Services Inc. now owns 221 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 75 shares during the last quarter. HUB Investment Partners LLC increased its position in shares of Nucor by 1.9% during the 2nd quarter. HUB Investment Partners LLC now owns 4,099 shares of the basic materials company’s stock valued at $531,000 after purchasing an additional 75 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC raised its holdings in shares of Nucor by 1.9% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 4,326 shares of the basic materials company’s stock valued at $560,000 after buying an additional 79 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Stock Performance

NYSE:NUE opened at $191.95 on Wednesday. The company has a quick ratio of 1.57, a current ratio of 2.94 and a debt-to-equity ratio of 0.31. The firm’s fifty day simple moving average is $170.70 and its 200 day simple moving average is $153.06. The stock has a market cap of $43.93 billion, a P/E ratio of 25.46, a price-to-earnings-growth ratio of 0.69 and a beta of 1.86. Nucor Corporation has a twelve month low of $97.59 and a twelve month high of $193.50.

Nucor (NYSE:NUE) last posted its earnings results on Monday, January 26th. The basic materials company reported $1.73 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.18). The company had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.93 billion. Nucor had a return on equity of 8.26% and a net margin of 5.37%.The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.22 earnings per share. As a group, research analysts predict that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 11th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.56 per share. This is a positive change from Nucor’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, December 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.2%. Nucor’s dividend payout ratio (DPR) is currently 29.71%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NUE. Morgan Stanley reaffirmed an “equal weight” rating and issued a $180.00 target price (up previously from $165.00) on shares of Nucor in a research note on Friday, January 9th. UBS Group cut shares of Nucor from a “buy” rating to a “neutral” rating and set a $183.00 price objective for the company. in a research note on Wednesday, January 28th. Seaport Research Partners lifted their target price on shares of Nucor from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Wall Street Zen raised Nucor from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Finally, The Goldman Sachs Group lifted their price target on Nucor from $182.00 to $196.00 and gave the stock a “buy” rating in a research note on Friday, January 16th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Nucor currently has a consensus rating of “Moderate Buy” and an average target price of $179.36.

Insider Transactions at Nucor

In related news, EVP Thomas J. Batterbee sold 2,000 shares of Nucor stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $165.28, for a total transaction of $330,560.00. Following the sale, the executive vice president directly owned 17,952 shares in the company, valued at $2,967,106.56. The trade was a 10.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Allen C. Behr sold 7,568 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $188.50, for a total value of $1,426,568.00. Following the completion of the transaction, the executive vice president owned 67,711 shares of the company’s stock, valued at approximately $12,763,523.50. This trade represents a 10.05% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 26,899 shares of company stock valued at $4,745,417. Corporate insiders own 0.71% of the company’s stock.

Nucor Company Profile

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.