Concurrent Investment Advisors LLC Trims Stock Holdings in Nucor Corporation (NYSE:NUE)

Concurrent Investment Advisors LLC trimmed its stake in shares of 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 fund owned 4,192 shares of the basic materials company's stock after selling 9,499 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Nucor were worth $504,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NUE. Proficio Capital Partners LLC acquired a new stake in shares of Nucor during the fourth quarter worth approximately $15,452,000. Raymond James Financial Inc. acquired a new position in Nucor during the 4th quarter worth about $38,714,000. Moran Wealth Management LLC lifted its position in Nucor by 3.8% during the 4th quarter. Moran Wealth Management LLC now owns 4,766 shares of the basic materials company's stock worth $556,000 after buying an additional 176 shares in the last quarter. Independent Advisor Alliance lifted its position in Nucor by 6.3% during the 4th quarter. Independent Advisor Alliance now owns 15,576 shares of the basic materials company's stock valued at $1,818,000 after purchasing an additional 929 shares during the period. Finally, Citizens Financial Group Inc. RI lifted its position in Nucor by 3.9% during the 4th quarter. Citizens Financial Group Inc. RI now owns 4,810 shares of the basic materials company's stock valued at $561,000 after purchasing an additional 181 shares during the period. 76.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wall Street Zen cut Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Morgan Stanley raised their price target on Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a report on Friday, June 20th. JPMorgan Chase & Co. increased their price objective on Nucor from $143.00 to $162.00 and gave the stock an "overweight" rating in a research report on Monday. UBS Group decreased their price target on Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Finally, BMO Capital Markets upgraded Nucor from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $140.00 to $145.00 in a research report on Monday, June 2nd. One research 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 stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $152.75.

Nucor Stock Down 0.5%

Shares of NUE stock traded down $0.69 during mid-day trading on Monday, hitting $141.72. The company's stock had a trading volume of 1,419,395 shares, compared to its average volume of 2,630,016. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.48 and a current ratio of 2.52. Nucor Corporation has a 52-week low of $97.59 and a 52-week high of $170.52. The stock has a market cap of $32.70 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 0.92 and a beta of 1.70. The business has a 50-day moving average price of $122.69 and a 200 day moving average price of $123.35.

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

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Monday, June 30th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.20 annualized dividend and a yield of 1.55%. Nucor's dividend payout ratio (DPR) is currently 39.15%.

Insider Buying and Selling

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

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.