Cambridge Investment Research Advisors Inc. Has $12.14 Million Stock Holdings in Nucor Co. (NYSE:NUE)

Cambridge Investment Research Advisors Inc. lifted its position in shares of Nucor Co. (NYSE:NUE) by 5.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 76,788 shares of the basic materials company’s stock after purchasing an additional 4,016 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Nucor were worth $12,139,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. CX Institutional grew its stake in Nucor by 52.8% in the 2nd quarter. CX Institutional now owns 17,245 shares of the basic materials company’s stock valued at $2,726,000 after buying an additional 5,960 shares during the last quarter. Newbridge Financial Services Group Inc. grew its stake in Nucor by 94.2% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,855 shares of the basic materials company’s stock valued at $323,000 after buying an additional 900 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in Nucor by 6.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 262,385 shares of the basic materials company’s stock valued at $45,665,000 after buying an additional 15,058 shares during the last quarter. Norden Group LLC acquired a new position in Nucor in the 1st quarter valued at about $1,847,000. Finally, Banco Santander S.A. grew its stake in Nucor by 86.2% in the 1st quarter. Banco Santander S.A. now owns 12,895 shares of the basic materials company’s stock valued at $2,552,000 after buying an additional 5,971 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Price Performance

Shares of Nucor stock traded down $0.07 on Tuesday, reaching $150.37. 1,386,017 shares of the stock were exchanged, compared to its average volume of 1,460,624. The firm’s 50 day moving average is $153.93 and its 200-day moving average is $171.59. The firm has a market cap of $36.05 billion, a PE ratio of 8.85 and a beta of 1.57. Nucor Co. has a one year low of $139.41 and a one year high of $203.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.85 and a current ratio of 2.93.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.37. The business had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $7.69 billion. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The firm’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same period in the prior year, the company earned $5.81 EPS. As a group, analysts anticipate that Nucor Co. will post 10.57 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, June 28th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Friday, June 28th. Nucor’s dividend payout ratio is 12.71%.

Insider Buying and Selling

In related news, EVP Daniel R. Needham sold 8,624 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the completion of the transaction, the executive vice president now directly owns 99,049 shares in the company, valued at approximately $15,847,840. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.46% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Nucor from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 16th. Bank of America cut their price objective on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Jefferies Financial Group started coverage on shares of Nucor in a report on Monday, May 20th. They issued a “hold” rating and a $190.00 price objective for the company. BMO Capital Markets cut their price objective on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a report on Monday, June 17th. Finally, Morgan Stanley raised shares of Nucor from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $187.00 to $176.00 in a report on Thursday, August 15th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $194.43.

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.