Accredited Investors Inc. Sells 100 Shares of Nucor Co. (NYSE:NUE)

Accredited Investors Inc. decreased its holdings in shares of Nucor Co. (NYSE:NUE) by 3.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,010 shares of the basic materials company’s stock after selling 100 shares during the period. Accredited Investors Inc.’s holdings in Nucor were worth $452,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. McClarren Financial Advisors Inc. raised its stake in Nucor by 129.0% during the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after buying an additional 89 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Nucor in the 3rd quarter worth about $26,000. Coastline Trust Co bought a new position in Nucor in the 3rd quarter worth about $29,000. Brown Lisle Cummings Inc. purchased a new stake in Nucor during the 3rd quarter valued at about $30,000. Finally, Salomon & Ludwin LLC grew its position in Nucor by 45.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 72 shares during the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Kenneth Rex Query sold 9,000 shares of the company’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 value of $1,321,200.00. Following the completion of the transaction, the executive vice president now directly owns 98,770 shares in the company, valued at $14,499,436. This represents a 8.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Stephen D. Laxton sold 4,712 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total transaction of $798,825.36. Following the sale, the chief financial officer now owns 82,132 shares in the company, valued at $13,923,837.96. The trade was a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,680 shares of company stock valued at $4,773,724. Company insiders own 0.46% of the company’s stock.

Nucor Trading Up 0.5 %

Nucor stock opened at $147.08 on Friday. Nucor Co. has a 52-week low of $133.42 and a 52-week high of $203.00. The company has a market cap of $34.54 billion, a P/E ratio of 14.21 and a beta of 1.55. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. The business has a 50-day simple moving average of $148.88 and a two-hundred day simple moving average of $154.96.

Nucor (NYSE:NUE) last announced its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.09. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The company had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. During the same period in the previous year, the business posted $4.57 earnings per share. The firm’s quarterly revenue was down 15.2% compared to the same quarter last year. Analysts predict that Nucor Co. will post 8.52 EPS for the current year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.16 annualized dividend and a yield of 1.47%. Nucor’s dividend payout ratio (DPR) is presently 20.87%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Morgan Stanley dropped their target price 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. JPMorgan Chase & Co. cut their target price on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Argus raised Nucor to a “strong-buy” rating in a report on Monday, August 26th. Finally, BMO Capital Markets reduced their price objective on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $190.57.

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.