Envestnet Portfolio Solutions Inc. Has $567,000 Stock Holdings in Nucor Corporation $NUE

Envestnet Portfolio Solutions Inc. lessened its stake in Nucor Corporation (NYSE:NUE) by 3.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,373 shares of the basic materials company’s stock after selling 153 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Nucor were worth $567,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Matrix Trust Co increased its stake in Nucor by 53.8% in the 2nd quarter. Matrix Trust Co now owns 240 shares of the basic materials company’s stock valued at $31,000 after buying an additional 84 shares during the period. Geneos Wealth Management Inc. increased its stake in Nucor by 81.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after buying an additional 153 shares during the period. Meeder Asset Management Inc. increased its stake in Nucor by 209.6% in the 1st quarter. Meeder Asset Management Inc. now owns 418 shares of the basic materials company’s stock valued at $50,000 after buying an additional 283 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its stake in Nucor by 49.8% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 442 shares of the basic materials company’s stock valued at $57,000 after buying an additional 147 shares during the period. Finally, Proathlete Wealth Management LLC acquired a new position in Nucor in the 2nd quarter valued at approximately $58,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Price Performance

NYSE NUE opened at $140.66 on Wednesday. The company has a current ratio of 2.83, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31. The company has a fifty day simple moving average of $140.89 and a 200 day simple moving average of $130.21. The company has a market cap of $32.29 billion, a P/E ratio of 25.39, a P/E/G ratio of 0.97 and a beta of 1.75. Nucor Corporation has a 1 year low of $97.59 and a 1 year high of $170.52.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, July 28th. The basic materials company reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.06. The business had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.47 billion. Nucor had a net margin of 4.21% and a return on equity of 6.65%. Nucor’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.68 EPS. On average, sell-side analysts predict that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.20 dividend on an annualized basis and a yield of 1.6%. Nucor’s dividend payout ratio is 39.71%.

Insider Activity at Nucor

In other Nucor news, EVP Kenneth Rex Query sold 10,000 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $144.90, for a total value of $1,449,000.00. Following the completion of the sale, the executive vice president directly owned 84,080 shares of the company’s stock, valued at $12,183,192. This represents a 10.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Allen C. Behr sold 8,021 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $143.38, for a total transaction of $1,150,050.98. Following the completion of the sale, the executive vice president directly owned 82,703 shares of the company’s stock, valued at approximately $11,857,956.14. This trade represents a 8.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,309 shares of company stock valued at $4,553,771 in the last quarter. Company insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wells Fargo & Company decreased their target price on shares of Nucor from $146.00 to $140.00 and set an “equal weight” rating for the company in a research report on Thursday, September 18th. JPMorgan Chase & Co. boosted their target price on shares of Nucor from $165.00 to $172.00 and gave the stock an “overweight” rating in a research report on Monday, October 13th. Bank of America boosted their target price on shares of Nucor from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Jefferies Financial Group raised shares of Nucor from a “hold” rating to a “buy” rating and boosted their target price for the stock from $135.00 to $170.00 in a research report on Thursday, July 31st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Nucor in a research report on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $157.60.

Nucor Company Profile

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.