Nucor Co. (NYSE:NUE) Shares Sold by CX Institutional

CX Institutional trimmed its holdings in Nucor Co. (NYSE:NUE) by 25.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,874 shares of the basic materials company’s stock after selling 4,371 shares during the quarter. CX Institutional’s holdings in Nucor were worth $1,935,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Wedge Capital Management L L P NC lifted its holdings in Nucor by 7.8% in the 3rd quarter. Wedge Capital Management L L P NC now owns 50,068 shares of the basic materials company’s stock valued at $7,527,000 after acquiring an additional 3,639 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in Nucor during the third quarter valued at about $167,000. Procyon Advisors LLC lifted its stake in Nucor by 3.6% during the third quarter. Procyon Advisors LLC now owns 15,762 shares of the basic materials company’s stock valued at $2,370,000 after buying an additional 541 shares in the last quarter. Polianta Ltd lifted its stake in Nucor by 26.2% during the third quarter. Polianta Ltd now owns 7,700 shares of the basic materials company’s stock valued at $1,157,000 after buying an additional 1,600 shares in the last quarter. Finally, Douglas Lane & Associates LLC lifted its stake in Nucor by 22.7% during the third quarter. Douglas Lane & Associates LLC now owns 97,568 shares of the basic materials company’s stock valued at $14,668,000 after buying an additional 18,044 shares in the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Daniel R. Needham sold 8,624 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total value of $1,379,840.00. Following the transaction, the executive vice president now owns 99,049 shares in the company, valued at approximately $15,847,840. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.46% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NUE has been the subject of a number of analyst reports. Morgan Stanley reduced their price objective on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, September 18th. BMO Capital Markets reduced their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday, September 18th. JPMorgan Chase & Co. reduced their price objective on shares of Nucor from $174.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Argus raised shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Finally, Bank of America reduced their price objective on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $191.43.

Nucor Price Performance

Shares of NUE opened at $151.62 on Wednesday. The company has a market capitalization of $36.35 billion, a price-to-earnings ratio of 8.92 and a beta of 1.55. Nucor Co. has a fifty-two week low of $133.42 and a fifty-two week high of $203.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85. The business’s 50-day moving average is $146.75 and its 200-day moving average is $161.11.

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

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be issued a $0.54 dividend. The ex-dividend date 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 currently 12.71%.

Nucor 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.