Sigma Investment Counselors Inc. Raises Holdings in Nucor Co. (NYSE:NUE)

Sigma Investment Counselors Inc. raised its stake in Nucor Co. (NYSE:NUEGet Rating) by 1.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 33,194 shares of the basic materials company’s stock after acquiring an additional 605 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in Nucor were worth $3,466,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Riverview Trust Co purchased a new stake in shares of Nucor during the first quarter worth about $28,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new stake in shares of Nucor during the first quarter worth about $30,000. Capital Advisory Group Advisory Services LLC purchased a new stake in shares of Nucor during the first quarter worth about $30,000. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in shares of Nucor during the first quarter worth about $32,000. Finally, Riggs Asset Managment Co. Inc. purchased a new stake in shares of Nucor during the first quarter worth about $33,000. 79.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on NUE. The Goldman Sachs Group decreased their price target on Nucor from $148.00 to $130.00 and set a “neutral” rating for the company in a research note on Tuesday, May 31st. StockNews.com downgraded Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, September 13th. Credit Suisse Group reduced their price objective on Nucor from $165.00 to $140.00 and set an “outperform” rating for the company in a research report on Friday, September 16th. Morgan Stanley reduced their price objective on Nucor from $121.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday, July 25th. Finally, Citigroup boosted their price objective on Nucor to $145.00 in a research report on Tuesday, September 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $132.78.

Insiders Place Their Bets

In other news, EVP Kenneth Rex Query sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $141.64, for a total transaction of $708,200.00. Following the transaction, the executive vice president now directly owns 76,100 shares in the company, valued at approximately $10,778,804. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Allen C. Behr sold 3,407 shares of the company’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $122.17, for a total value of $416,233.19. Following the completion of the sale, the executive vice president now directly owns 64,087 shares in the company, valued at $7,829,508.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kenneth Rex Query sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $141.64, for a total transaction of $708,200.00. Following the completion of the sale, the executive vice president now owns 76,100 shares of the company’s stock, valued at $10,778,804. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.

Nucor Price Performance

Shares of NYSE NUE traded down $4.21 during trading on Friday, hitting $104.64. The company had a trading volume of 80,816 shares, compared to its average volume of 2,037,766. The company has a market cap of $27.39 billion, a P/E ratio of 3.24 and a beta of 1.39. Nucor Co. has a 52 week low of $88.50 and a 52 week high of $187.90. The business’s 50-day moving average is $131.13 and its 200 day moving average is $132.80. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.62.

Nucor (NYSE:NUEGet Rating) last posted its quarterly earnings data on Thursday, July 21st. The basic materials company reported $9.67 earnings per share for the quarter, topping the consensus estimate of $8.91 by $0.76. Nucor had a net margin of 21.03% and a return on equity of 57.78%. The firm had revenue of $11.79 billion for the quarter, compared to analysts’ expectations of $11.59 billion. During the same period in the previous year, the company posted $5.04 EPS. The company’s quarterly revenue was up 34.2% compared to the same quarter last year. Equities research analysts predict that Nucor Co. will post 31.08 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Friday, September 30th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.91%. The ex-dividend date is Thursday, September 29th. Nucor’s payout ratio is 6.14%.

About Nucor

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Nucor Corporation manufactures and sells steel and steel products. The company's 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; and 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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