Corient Capital Partners LLC Cuts Position in Nucor Co. (NYSE:NUE)

Corient Capital Partners LLC trimmed its position in Nucor Co. (NYSE:NUEGet Rating) by 1.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,777 shares of the basic materials company’s stock after selling 108 shares during the quarter. Corient Capital Partners LLC’s holdings in Nucor were worth $708,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. CFS Investment Advisory Services LLC raised its holdings in shares of Nucor by 14,509.4% during the 1st quarter. CFS Investment Advisory Services LLC now owns 4,061,713 shares of the basic materials company’s stock valued at $27,000 after buying an additional 4,033,911 shares during the period. BlackRock Inc. raised its holdings in shares of Nucor by 4.0% during the 1st quarter. BlackRock Inc. now owns 23,345,048 shares of the basic materials company’s stock valued at $3,470,242,000 after buying an additional 897,135 shares during the period. 1832 Asset Management L.P. raised its holdings in shares of Nucor by 201,104.5% during the 1st quarter. 1832 Asset Management L.P. now owns 804,818 shares of the basic materials company’s stock valued at $117,993,000 after buying an additional 804,418 shares during the period. Lord Abbett & CO. LLC purchased a new stake in shares of Nucor during the 1st quarter valued at about $66,280,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Nucor by 9.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,782,243 shares of the basic materials company’s stock valued at $710,909,000 after buying an additional 406,834 shares during the period. 79.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. The Goldman Sachs Group dropped their target price on Nucor from $127.00 to $114.00 and set a “neutral” rating on the stock in a report on Thursday, October 6th. Credit Suisse Group dropped their target price on Nucor from $165.00 to $140.00 and set an “outperform” rating on the stock in a report on Friday, September 16th. Citigroup raised their price objective on Nucor to $145.00 in a research note on Tuesday, September 13th. Morgan Stanley lowered their price objective on Nucor from $115.00 to $113.00 and set an “equal weight” rating for the company in a research note on Monday, October 24th. Finally, BMO Capital Markets raised their price objective on Nucor from $113.00 to $142.00 and gave the company a “market perform” rating in a research note on Wednesday, November 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $132.33.

Insider Transactions at Nucor

In related news, EVP John J. Hollatz sold 2,450 shares of the firm’s stock in a transaction that occurred on Monday, October 24th. The stock was sold at an average price of $134.40, for a total value of $329,280.00. Following the sale, the executive vice president now owns 52,282 shares of the company’s stock, valued at approximately $7,026,700.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP John J. Hollatz sold 2,450 shares of the firm’s stock in a transaction that occurred on Monday, October 24th. The stock was sold at an average price of $134.40, for a total value of $329,280.00. Following the sale, the executive vice president now owns 52,282 shares of the company’s stock, valued at approximately $7,026,700.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Gregory J. Murphy sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $137.29, for a total value of $411,870.00. Following the completion of the sale, the executive vice president now directly owns 49,549 shares in the company, valued at approximately $6,802,582.21. The disclosure for this sale can be found here. Insiders own 0.46% of the company’s stock.

Nucor Price Performance

Shares of NUE opened at $149.73 on Thursday. The firm has a market cap of $38.41 billion, a price-to-earnings ratio of 4.71 and a beta of 1.48. The stock has a 50 day moving average of $125.56 and a 200-day moving average of $125.64. The company has a current ratio of 3.10, a quick ratio of 1.79 and a debt-to-equity ratio of 0.35. Nucor Co. has a 52 week low of $88.50 and a 52 week high of $187.90.

Nucor (NYSE:NUEGet Rating) last issued its earnings results on Thursday, October 20th. The basic materials company reported $6.50 EPS for the quarter, topping the consensus estimate of $6.45 by $0.05. The company had revenue of $10.50 billion during the quarter, compared to analyst estimates of $10.43 billion. Nucor had a return on equity of 51.03% and a net margin of 19.93%. The business’s revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $7.28 EPS. As a group, analysts forecast that Nucor Co. will post 29.84 EPS for the current year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Friday, September 30th were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, September 29th. This represents a $2.00 annualized dividend and a dividend yield of 1.34%. Nucor’s payout ratio is 6.29%.

About Nucor

(Get Rating)

Nucor Corporation manufactures and sells steel and steel products. The company's 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 products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.

Further Reading

Want to see what other hedge funds are holding NUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nucor Co. (NYSE:NUEGet Rating).

Institutional Ownership by Quarter for Nucor (NYSE:NUE)

Receive News & Ratings for Nucor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor and related companies with MarketBeat.com's FREE daily email newsletter.