Wedmont Private Capital Has $474,000 Stock Holdings in Nucor Co. (NYSE:NUE)

Wedmont Private Capital decreased its holdings in shares of Nucor Co. (NYSE:NUE) by 14.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,104 shares of the basic materials company’s stock after selling 513 shares during the period. Wedmont Private Capital’s holdings in Nucor were worth $474,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. McClarren Financial Advisors Inc. raised its holdings in Nucor by 129.0% during the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock worth $25,000 after buying an additional 89 shares during the last quarter. Rise Advisors LLC acquired a new position in Nucor during the first quarter worth $27,000. Chilton Capital Management LLC raised its holdings in shares of Nucor by 94.2% in the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 65 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Nucor in the first quarter valued at about $28,000. Finally, Tompkins Financial Corp raised its holdings in shares of Nucor by 208.0% in the first quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 104 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Price Performance

NUE opened at $151.87 on Friday. The firm has a market cap of $36.41 billion, a P/E ratio of 8.94 and a beta of 1.55. The firm has a 50-day moving average of $146.65 and a 200 day moving average of $162.53. 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 Co. has a fifty-two week low of $133.42 and a fifty-two week high of $203.00.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.37. The company had revenue of $8.08 billion during the quarter, compared to analyst estimates of $7.69 billion. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The firm’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.81 earnings per share. On average, research analysts expect that Nucor Co. will post 9.1 EPS for the current year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.42%. Nucor’s dividend payout ratio is presently 12.71%.

Insiders Place Their Bets

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the stock in a transaction dated 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 owns 99,049 shares in the company, valued at $15,847,840. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of Nucor from $174.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday. BMO Capital Markets lowered their target price on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. Morgan Stanley lowered their target price on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. Bank of America lowered their target price 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. Finally, Argus upgraded shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Nucor currently has an average rating of “Moderate Buy” and a consensus target price of $191.43.

About Nucor

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.