Sigma Investment Counselors Inc. Buys 1,696 Shares of Nucor Corporation $NUE

Sigma Investment Counselors Inc. lifted its stake in shares of Nucor Corporation (NYSE:NUE) by 5.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,035 shares of the basic materials company’s stock after purchasing an additional 1,696 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in Nucor were worth $4,538,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in NUE. RFG Advisory LLC lifted its holdings in shares of Nucor by 2.9% in the second quarter. RFG Advisory LLC now owns 2,462 shares of the basic materials company’s stock worth $319,000 after buying an additional 69 shares in the last quarter. Matrix Trust Co boosted its holdings in Nucor by 53.8% in the 2nd quarter. Matrix Trust Co now owns 240 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 84 shares during the period. Dorsey & Whitney Trust CO LLC boosted its holdings in Nucor by 2.2% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 4,247 shares of the basic materials company’s stock valued at $511,000 after purchasing an additional 93 shares during the period. Denali Advisors LLC increased its holdings in shares of Nucor by 2.5% in the first quarter. Denali Advisors LLC now owns 4,117 shares of the basic materials company’s stock worth $495,000 after purchasing an additional 102 shares during the period. Finally, Applied Finance Capital Management LLC raised its position in shares of Nucor by 1.8% in the second quarter. Applied Finance Capital Management LLC now owns 5,908 shares of the basic materials company’s stock worth $765,000 after buying an additional 103 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Insider Buying and Selling

In other news, EVP Allen C. Behr sold 8,021 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $143.38, for a total value of $1,150,050.98. Following the transaction, the executive vice president owned 82,703 shares in the company, valued at approximately $11,857,956.14. This represents a 8.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Daniel R. Needham sold 7,200 shares of Nucor stock in a transaction on Monday, August 18th. The stock was sold at an average price of $146.00, for a total value of $1,051,200.00. Following the completion of the sale, the executive vice president directly owned 92,179 shares of the company’s stock, valued at approximately $13,458,134. The trade was a 7.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,309 shares of company stock worth $4,553,771 in the last 90 days. 0.46% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on NUE. Wells Fargo & Company lowered their price target on Nucor from $146.00 to $140.00 and set an “equal weight” rating on the stock in a report on Thursday, September 18th. Jefferies Financial Group upgraded shares of Nucor from a “hold” rating to a “buy” rating and upped their price target for the company from $135.00 to $170.00 in a research report on Thursday, July 31st. Bank of America increased their target price on Nucor from $150.00 to $165.00 and gave the company a “buy” rating in a report on Monday, September 15th. The Goldman Sachs Group lowered their price objective on Nucor from $182.00 to $173.00 and set a “buy” rating for the company in a research report on Monday, September 22nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nucor in a research note on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $157.60.

Nucor Stock Performance

Shares of Nucor stock opened at $131.70 on Friday. Nucor Corporation has a 12 month low of $97.59 and a 12 month high of $170.52. The firm has a market capitalization of $30.23 billion, a P/E ratio of 23.77, a P/E/G ratio of 0.94 and a beta of 1.75. The company has a current ratio of 2.83, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $140.92 and a two-hundred day simple moving average of $129.76.

Nucor (NYSE:NUE) last announced its earnings results on Monday, July 28th. The basic materials company reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.06. Nucor had a net margin of 4.21% and a return on equity of 6.65%. The business had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.47 billion. During the same quarter last year, the firm earned $2.68 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities analysts forecast that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.55 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.20 annualized dividend and a dividend yield of 1.7%. Nucor’s dividend payout ratio (DPR) is presently 39.71%.

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.