Concurrent Investment Advisors LLC Has $504,000 Stock Holdings in Nucor Corporation (NYSE:NUE)

Concurrent Investment Advisors LLC decreased its holdings in Nucor Corporation (NYSE:NUE - Free Report) by 69.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,192 shares of the basic materials company's stock after selling 9,499 shares during the period. Concurrent Investment Advisors LLC's holdings in Nucor were worth $504,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Nucor in the 4th quarter worth approximately $25,000. Putney Financial Group LLC acquired a new position in shares of Nucor in the fourth quarter worth $29,000. MV Capital Management Inc. raised its holdings in shares of Nucor by 73.5% during the first quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company's stock worth $34,000 after acquiring an additional 119 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new stake in shares of Nucor during the fourth quarter worth $41,000. Finally, Park Square Financial Group LLC acquired a new stake in Nucor during the fourth quarter valued at $48,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Stock Performance

Shares of Nucor stock traded down $0.88 on Friday, reaching $142.43. The stock had a trading volume of 1,242,965 shares, compared to its average volume of 2,090,888. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.48 and a current ratio of 2.52. The business's 50-day moving average price is $122.30 and its two-hundred day moving average price is $123.11. The stock has a market cap of $32.87 billion, a P/E ratio of 23.26, a price-to-earnings-growth ratio of 0.92 and a beta of 1.70. Nucor Corporation has a fifty-two week low of $97.59 and a fifty-two week high of $170.52.

Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The basic materials company reported $0.77 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.15). Nucor had a return on equity of 6.82% and a net margin of 4.40%. The business had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.25 billion. During the same quarter in the previous year, the firm posted $3.46 earnings per share. The company's revenue for the quarter was down 3.8% on a year-over-year basis. On average, sell-side analysts forecast that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Monday, June 30th will be given a $0.55 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.20 annualized dividend and a dividend yield of 1.54%. Nucor's dividend payout ratio is 39.15%.

Insider Transactions at Nucor

In related news, CEO Leon J. Topalian sold 34,238 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $120.19, for a total transaction of $4,115,065.22. Following the completion of the transaction, the chief executive officer directly owned 162,993 shares in the company, valued at $19,590,128.67. This represents a 17.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Daniel R. Needham sold 7,088 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $127.87, for a total transaction of $906,342.56. Following the completion of the sale, the executive vice president owned 99,379 shares in the company, valued at $12,707,592.73. This represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,326 shares of company stock worth $6,325,108. Insiders own 0.46% of the company's stock.

Analyst Upgrades and Downgrades

NUE has been the topic of several research reports. The Goldman Sachs Group dropped their target price on Nucor from $175.00 to $169.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. UBS Group cut their price objective on shares of Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. JPMorgan Chase & Co. decreased their target price on shares of Nucor from $156.00 to $140.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Morgan Stanley increased their price target on shares of Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. Finally, Wall Street Zen lowered shares of Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $150.00.

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.