Pacer Advisors Inc. Trims Holdings in Nucor Corporation $NUE

Pacer Advisors Inc. lessened its holdings in shares of Nucor Corporation (NYSE:NUE) by 45.8% in the first quarter, Holdings Channel.com reports. The fund owned 12,271 shares of the basic materials company’s stock after selling 10,350 shares during the period. Pacer Advisors Inc.’s holdings in Nucor were worth $2,075,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in NUE. RKL Wealth Management LLC boosted its holdings in Nucor by 0.9% during the first quarter. RKL Wealth Management LLC now owns 5,318 shares of the basic materials company’s stock valued at $899,000 after acquiring an additional 48 shares during the period. Empirical Asset Management LLC increased its stake in Nucor by 2.6% during the fourth quarter. Empirical Asset Management LLC now owns 2,130 shares of the basic materials company’s stock valued at $347,000 after acquiring an additional 54 shares during the period. Krilogy Financial LLC raised its stake in shares of Nucor by 4.1% in the fourth quarter. Krilogy Financial LLC now owns 1,531 shares of the basic materials company’s stock valued at $272,000 after purchasing an additional 61 shares in the last quarter. Bartlett & CO. Wealth Management LLC raised its stake in shares of Nucor by 49.2% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock valued at $32,000 after buying an additional 63 shares in the last quarter. Finally, IHT Wealth Management LLC lifted its stake in Nucor by 2.0% during the fourth quarter. IHT Wealth Management LLC now owns 3,306 shares of the basic materials company’s stock worth $539,000 after purchasing an additional 64 shares during the period. Institutional investors own 76.48% of the company’s stock.

Nucor Stock Up 0.3%

Shares of NYSE:NUE opened at $272.89 on Friday. The company has a quick ratio of 1.36, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The firm has a market cap of $62.15 billion, a P/E ratio of 21.76, a P/E/G ratio of 0.60 and a beta of 1.89. Nucor Corporation has a 12 month low of $131.32 and a 12 month high of $280.11. The company’s 50-day moving average price is $245.67 and its two-hundred day moving average price is $210.80.

Nucor (NYSE:NUE) last announced its earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share for the quarter, topping analysts’ consensus estimates of $4.46 by $0.38. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The company had revenue of $10.40 billion during the quarter, compared to the consensus estimate of $10.15 billion. During the same period in the previous year, the firm posted $2.60 earnings per share. The company’s revenue was up 23.0% on a year-over-year basis. As a group, research analysts forecast that Nucor Corporation will post 18.02 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.8%. Nucor’s dividend payout ratio (DPR) is currently 17.86%.

Analyst Upgrades and Downgrades

NUE has been the subject of several analyst reports. Wells Fargo & Company lifted their price target on shares of Nucor from $283.00 to $297.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Zacks Research lowered shares of Nucor from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. BMO Capital Markets lifted their target price on shares of Nucor from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. JPMorgan Chase & Co. boosted their target price on Nucor from $240.00 to $282.00 and gave the stock an “overweight” rating in a report on Wednesday, June 10th. Finally, Morgan Stanley set a $270.00 price target on Nucor in a research report on Wednesday, July 29th. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Nucor currently has an average rating of “Moderate Buy” and an average target price of $273.31.

Insider Activity at Nucor

In other Nucor news, EVP Thomas J. Batterbee sold 4,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $261.02, for a total value of $1,044,080.00. Following the transaction, the executive vice president directly owned 16,138 shares in the company, valued at approximately $4,212,340.76. This trade represents a 19.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Randy J. Spicer sold 2,500 shares of Nucor stock in a transaction on Monday, May 18th. The shares were sold at an average price of $225.00, for a total value of $562,500.00. Following the completion of the sale, the executive vice president directly owned 20,510 shares of the company’s stock, valued at $4,614,750. This trade represents a 10.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 21,028 shares of company stock worth $5,355,535. Company insiders own 0.62% 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.