Envestnet Asset Management Inc. Sells 3,714 Shares of Nucor Corporation $NUE

Envestnet Asset Management Inc. lessened its holdings in Nucor Corporation (NYSE:NUE) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 327,796 shares of the basic materials company’s stock after selling 3,714 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.14% of Nucor worth $44,393,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NUE. IMA Advisory Services Inc. lifted its holdings in shares of 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 period. AXS Investments LLC acquired a new position in Nucor during the 3rd quarter worth about $37,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Nucor in the 2nd quarter valued at about $39,000. Geneos Wealth Management Inc. increased its stake in shares of Nucor by 81.8% in the first 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. Finally, Salomon & Ludwin LLC raised its position in shares of Nucor by 45.5% during the third quarter. Salomon & Ludwin LLC now owns 320 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 100 shares during the last quarter. 76.48% of the stock is owned by institutional investors.

Insider Activity at Nucor

In other Nucor news, EVP Thomas J. Batterbee sold 2,000 shares of the firm’s stock in a transaction 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 transaction, the executive vice president directly owned 17,952 shares in the company, valued at approximately $2,967,106.56. This trade represents a 10.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Allen C. Behr sold 7,568 shares of Nucor stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $188.50, for a total transaction of $1,426,568.00. Following the transaction, the executive vice president directly owned 67,711 shares in the company, valued at $12,763,523.50. This represents a 10.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 26,899 shares of company stock valued at $4,745,417. 0.71% of the stock is owned by insiders.

Nucor Stock Performance

Shares of NUE stock opened at $191.95 on Wednesday. Nucor Corporation has a 12 month low of $97.59 and a 12 month high of $193.50. The firm has a market capitalization of $43.93 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 0.69 and a beta of 1.86. The firm has a fifty day simple moving average of $170.70 and a two-hundred day simple moving average of $153.06. The company has a current ratio of 2.94, a quick ratio of 1.57 and a debt-to-equity ratio of 0.31.

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

Nucor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 11th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 1.2%. This is an increase from Nucor’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, December 31st. Nucor’s dividend payout ratio is currently 29.71%.

Analysts Set New Price Targets

A number of analysts have weighed in on NUE shares. Weiss Ratings reissued a “hold (c)” rating on shares of Nucor in a research report on Monday, December 29th. Seaport Research Partners increased their price objective 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. JPMorgan Chase & Co. boosted their target price on shares of Nucor from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, December 5th. The Goldman Sachs Group increased their price target on Nucor from $182.00 to $196.00 and gave the stock a “buy” rating in a report on Friday, January 16th. Finally, BNP Paribas Exane lifted their price objective on Nucor from $165.00 to $185.00 and gave the stock an “outperform” rating in a research report on Friday, January 2nd. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.36.

About Nucor

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.