Nucor Co. (NYSE:NUE) Shares Sold by Aigen Investment Management LP

Aigen Investment Management LP lowered its stake in shares of Nucor Co. (NYSE:NUE) by 45.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 7,640 shares of the basic materials company’s stock after selling 6,454 shares during the period. Aigen Investment Management LP’s holdings in Nucor were worth $1,149,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. WealthPlan Investment Management LLC increased its stake in Nucor by 16.5% during the 3rd quarter. WealthPlan Investment Management LLC now owns 69,855 shares of the basic materials company’s stock worth $10,502,000 after buying an additional 9,881 shares during the period. GSA Capital Partners LLP purchased a new stake in Nucor during the 3rd quarter worth about $239,000. Delta Financial Advisors LLC boosted its holdings in Nucor by 2.8% in the third quarter. Delta Financial Advisors LLC now owns 29,004 shares of the basic materials company’s stock valued at $4,360,000 after purchasing an additional 778 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Nucor in the 3rd quarter valued at $26,000. Finally, Crossmark Global Holdings Inc. grew its holdings in shares of Nucor by 1.9% during the third quarter. Crossmark Global Holdings Inc. now owns 45,128 shares of the basic materials company’s stock worth $6,785,000 after purchasing an additional 851 shares during the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NUE has been the subject of several research reports. JPMorgan Chase & Co. reduced their price target on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. BMO Capital Markets dropped their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday, September 18th. Argus raised Nucor to a “strong-buy” rating in a report on Monday, August 26th. Finally, Morgan Stanley dropped their price objective on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. 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. According to data from MarketBeat, Nucor presently has an average rating of “Moderate Buy” and a consensus price target of $190.57.

Nucor Price Performance

NUE stock opened at $153.84 on Wednesday. The firm has a 50 day moving average of $148.18 and a 200-day moving average of $155.39. The company has a market cap of $36.12 billion, a price-to-earnings ratio of 14.86 and a beta of 1.55. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. Nucor Co. has a 12-month low of $133.42 and a 12-month high of $203.00.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.09. The firm had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. Nucor’s revenue was down 15.2% on a year-over-year basis. During the same period in the previous year, the firm posted $4.57 earnings per share. As a group, equities analysts expect that Nucor Co. will post 8.6 EPS for the current fiscal year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, September 27th were issued a dividend of $0.54 per share. The ex-dividend date was Friday, September 27th. This represents a $2.16 annualized dividend and a yield of 1.40%. Nucor’s dividend payout ratio (DPR) is currently 20.87%.

Insiders Place Their Bets

In other news, EVP Kenneth Rex Query sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the completion of the transaction, the executive vice president now directly owns 98,770 shares of the company’s stock, valued at $14,499,436. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Leon J. Topalian sold 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total value of $1,860,210.00. Following the completion of the transaction, the chief executive officer now owns 172,136 shares of the company’s stock, valued at $29,109,918.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kenneth Rex Query sold 9,000 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the completion of the transaction, the executive vice president now owns 98,770 shares of the company’s stock, valued at $14,499,436. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,712 shares of company stock worth $3,980,235. Insiders own 0.64% of the company’s stock.

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.