Nucor Corporation (NYSE:NUE) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. cut its stake in shares of Nucor Corporation (NYSE:NUE - Free Report) by 51.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,526 shares of the basic materials company's stock after selling 4,878 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Nucor were worth $545,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Canal Capital Management LLC increased its position in shares of Nucor by 2.5% during the fourth quarter. Canal Capital Management LLC now owns 3,075 shares of the basic materials company's stock valued at $359,000 after acquiring an additional 75 shares during the last quarter. Horrell Capital Management Inc. grew its holdings in shares of Nucor by 0.3% in the fourth quarter. Horrell Capital Management Inc. now owns 26,657 shares of the basic materials company's stock valued at $3,111,000 after purchasing an additional 76 shares in the last quarter. Highline Wealth Partners LLC grew its holdings in shares of Nucor by 2.6% in the first quarter. Highline Wealth Partners LLC now owns 3,512 shares of the basic materials company's stock valued at $423,000 after purchasing an additional 90 shares in the last quarter. Diligent Investors LLC grew its holdings in shares of Nucor by 4.6% in the first quarter. Diligent Investors LLC now owns 2,296 shares of the basic materials company's stock valued at $276,000 after purchasing an additional 102 shares in the last quarter. Finally, King Luther Capital Management Corp grew its holdings in shares of Nucor by 1.0% in the fourth quarter. King Luther Capital Management Corp now owns 10,777 shares of the basic materials company's stock valued at $1,258,000 after purchasing an additional 105 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Nucor

In related news, EVP Daniel R. Needham sold 7,088 shares of the company's stock in a transaction on Tuesday, June 24th. The shares were 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 now owns 99,379 shares in the company, valued at $12,707,592.73. This 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 the SEC website. Also, 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 sale, the chief executive officer now owns 162,993 shares of the company's stock, valued at approximately $19,590,128.67. This trade represents a 17.36% decrease in their position. The disclosure for this sale can be found here. 0.46% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on NUE shares. Wall Street Zen cut shares of Nucor from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. UBS Group dropped their price objective on shares of Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a report on Thursday, May 29th. BMO Capital Markets upgraded shares of Nucor from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $140.00 to $145.00 in a report on Monday, June 2nd. Morgan Stanley lifted their price objective on shares of Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a report on Friday, June 20th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Nucor from $156.00 to $140.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $150.00.

Nucor Trading Up 2.0%

Shares of Nucor stock opened at $130.75 on Friday. The company has a fifty day simple moving average of $117.76 and a 200-day simple moving average of $122.25. Nucor Corporation has a 12-month low of $97.59 and a 12-month high of $170.52. 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 stock has a market cap of $30.17 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 0.83 and a beta of 1.67.

Nucor (NYSE:NUE - Get Free Report) last issued 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). Nucor had a net margin of 4.40% and a return on equity of 6.82%. The company had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.25 billion. During the same quarter in the previous year, the company posted $3.46 EPS. The company's quarterly revenue was down 3.8% on a year-over-year basis. On average, equities analysts forecast that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Monday, June 30th will be given 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 1.68%. Nucor's dividend payout ratio (DPR) is 39.15%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.