Avantax Advisory Services Inc. Has $3.11 Million Stock Holdings in Nucor Co. (NYSE:NUE)

Avantax Advisory Services Inc. lessened its holdings in Nucor Co. (NYSE:NUE) by 8.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,690 shares of the basic materials company’s stock after selling 1,414 shares during the period. Avantax Advisory Services Inc.’s holdings in Nucor were worth $3,105,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Criterion Capital Advisors LLC acquired a new stake in shares of Nucor in the fourth quarter worth $25,000. Rise Advisors LLC acquired a new stake in shares of Nucor in the first quarter worth $27,000. Chilton Capital Management LLC boosted its position 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 worth $27,000 after buying an additional 65 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of Nucor in the first quarter worth $28,000. Finally, Tompkins Financial Corp boosted its position 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 worth $30,000 after buying an additional 104 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. BMO Capital Markets cut their price objective on Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a report on Monday, June 17th. Bank of America cut their target price on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. JPMorgan Chase & Co. dropped their price objective on Nucor from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Tuesday. StockNews.com lowered Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Finally, Jefferies Financial Group assumed coverage on Nucor in a research report on Monday, May 20th. They set a “hold” rating and a $190.00 target price on the stock. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $191.29.

Nucor Price Performance

Shares of NYSE:NUE traded down $1.32 during trading on Wednesday, reaching $164.82. The stock had a trading volume of 662,523 shares, compared to its average volume of 1,460,179. Nucor Co. has a 52 week low of $140.07 and a 52 week high of $203.00. The business’s 50-day moving average price is $162.41 and its 200 day moving average price is $176.30. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.02 and a quick ratio of 2.48. The stock has a market capitalization of $39.52 billion, a PE ratio of 9.78 and a beta of 1.57.

Nucor (NYSE:NUE) last posted its earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). Nucor had a net margin of 12.40% and a return on equity of 19.62%. The firm had revenue of $8.14 billion during the quarter, compared to the consensus estimate of $8.26 billion. During the same quarter last year, the firm posted $4.45 EPS. The business’s revenue was down 6.6% on a year-over-year basis. As a group, equities analysts predict that Nucor Co. will post 10.84 earnings per share for the current year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, June 28th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Friday, June 28th. Nucor’s payout ratio is 12.71%.

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.