Wealth Enhancement Advisory Services LLC Raises Stock Position in Nucor Corporation (NYSE:NUE)

Wealth Enhancement Advisory Services LLC boosted its stake in shares of Nucor Corporation (NYSE:NUE - Free Report) by 21.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,459 shares of the basic materials company's stock after buying an additional 17,861 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Nucor were worth $12,210,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in NUE. Allworth Financial LP grew its position in shares of Nucor by 65.9% during the 4th quarter. Allworth Financial LP now owns 1,375 shares of the basic materials company's stock worth $168,000 after buying an additional 546 shares in the last quarter. Fisher Funds Management LTD purchased a new stake in Nucor in the fourth quarter worth about $10,118,000. Union Bancaire Privee UBP SA purchased a new stake in Nucor in the fourth quarter worth about $162,000. Y Intercept Hong Kong Ltd bought a new position in Nucor during the 4th quarter worth about $2,562,000. Finally, Crestwood Advisors Group LLC increased its position in Nucor by 6.4% during the 4th quarter. Crestwood Advisors Group LLC now owns 2,546 shares of the basic materials company's stock valued at $297,000 after purchasing an additional 154 shares during the period. 76.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related 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 transaction, the executive vice president now owns 99,379 shares in the company, valued at $12,707,592.73. This trade represents a 6.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Leon J. Topalian sold 34,238 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $120.19, for a total value of $4,115,065.22. Following the completion of the transaction, the chief executive officer now directly owns 162,993 shares in the company, valued at $19,590,128.67. This represents a 17.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.46% of the stock is owned by company insiders.

Nucor Stock Up 2.0%

Shares of NUE stock traded up $2.54 during trading hours on Thursday, reaching $130.75. 1,838,279 shares of the company's stock were exchanged, compared to its average volume of 2,229,079. Nucor Corporation has a fifty-two week low of $97.59 and a fifty-two week high of $170.52. The stock's 50 day moving average is $117.36 and its 200-day moving average is $122.35. The company has a current ratio of 2.52, a quick ratio of 1.48 and a debt-to-equity ratio of 0.32. The company has a market cap of $30.17 billion, a price-to-earnings ratio of 23.27, a P/E/G ratio of 0.83 and a beta of 1.67.

Nucor (NYSE:NUE - Get Free Report) last announced its 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 business had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.25 billion. Nucor had a net margin of 4.40% and a return on equity of 6.82%. The company's quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the prior year, the company earned $3.46 earnings per share. Analysts predict that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently announced 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. This represents a $2.20 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Monday, June 30th. Nucor's dividend payout ratio (DPR) is presently 39.15%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NUE shares. Morgan Stanley upped their price target on shares of Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a research report on Friday, June 20th. Wall Street Zen downgraded shares of Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. lowered their target price on Nucor from $156.00 to $140.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. UBS Group cut their price target on Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Finally, Argus set a $155.00 price target on Nucor in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $155.56.

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.