Global Assets Advisory LLC Sells 2,430 Shares of Nucor Corporation $NUE

Key Points

• Global Assets Advisory LLC has reduced its holdings in Nucor Corporation by 53.6%, selling 2,430 shares and now owning 2,103 shares valued at approximately $282,000.
• Several institutional investors have made significant adjustments to their positions in Nucor, with Robeco Institutional Asset Management increasing its stake by 138.5% during the 2nd quarter.
• Nucor recently announced a quarterly dividend of $0.55 per share, which will be payable on November 10th, reflecting a 1.6% yield for investors.

Global Assets Advisory LLC lessened its position in Nucor Corporation (NYSE:NUE - Free Report) by 53.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,103 shares of the basic materials company's stock after selling 2,430 shares during the period. Global Assets Advisory LLC's holdings in Nucor were worth $282,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in Nucor by 17.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,595 shares of the basic materials company's stock valued at $3,853,000 after purchasing an additional 4,763 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Nucor by 21.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 101,459 shares of the basic materials company's stock valued at $12,210,000 after purchasing an additional 17,861 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Nucor by 20.5% during the first quarter. Assenagon Asset Management S.A. now owns 28,886 shares of the basic materials company's stock valued at $3,476,000 after buying an additional 4,914 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Nucor by 138.5% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 121,543 shares of the basic materials company's stock worth $15,745,000 after buying an additional 70,581 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Nucor by 12.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 305,006 shares of the basic materials company's stock worth $36,704,000 after buying an additional 33,700 shares during the last quarter. Institutional investors own 76.48% of the company's stock.

Insider Activity

In other Nucor news, insider Michael D. Keller sold 6,088 shares of Nucor stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $148.41, for a total transaction of $903,520.08. Following the transaction, the insider owned 22,464 shares of the company's stock, valued at $3,333,882.24. The trade was a 21.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Allen C. Behr sold 8,021 shares of the stock in a transaction on Thursday, July 31st. The stock was 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 have sold a total of 31,309 shares of company stock worth $4,553,771 in the last quarter. 0.71% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on NUE shares. Wells Fargo & Company dropped their price target on shares of Nucor from $146.00 to $140.00 and set an "equal weight" rating on the stock in a report on Thursday, September 18th. Morgan Stanley raised their target price on shares of Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. Jefferies Financial Group raised shares of Nucor from a "hold" rating to a "buy" rating and lifted their target price for the stock from $135.00 to $170.00 in a research report on Thursday, July 31st. Bank of America increased their price target on Nucor from $150.00 to $165.00 and gave the company a "buy" rating in a report on Monday, September 15th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Nucor in a report on Saturday, September 27th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $156.60.

Nucor Trading Down 1.8%

Shares of NUE stock opened at $135.57 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.83 and a quick ratio of 1.51. The company has a market cap of $31.12 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 0.95 and a beta of 1.75. Nucor Corporation has a 1 year low of $97.59 and a 1 year high of $170.52. The firm has a fifty day moving average price of $141.66 and a 200-day moving average price of $129.09.

Nucor (NYSE:NUE - Get Free Report) last announced its earnings results on Monday, July 28th. The basic materials company reported $2.60 EPS for the quarter, topping analysts' consensus estimates of $2.54 by $0.06. Nucor had a return on equity of 6.65% and a net margin of 4.21%.The company had revenue of $8.46 billion for the quarter, compared to analysts' expectations of $8.47 billion. During the same period last year, the firm earned $2.68 EPS. Nucor's revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities analysts predict that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 30th. Nucor's dividend payout ratio is currently 39.71%.

Nucor 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.

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