CCM Investment Advisers LLC Sells 56,596 Shares of Nucor Co. (NYSE:NUE)

CCM Investment Advisers LLC decreased its stake in Nucor Co. (NYSE:NUE) by 92.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 4,315 shares of the basic materials company’s stock after selling 56,596 shares during the quarter. CCM Investment Advisers LLC’s holdings in Nucor were worth $504,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mizuho Securities USA LLC raised its holdings in shares of Nucor by 8,530.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 1,595,179 shares of the basic materials company’s stock valued at $239,819,000 after purchasing an additional 1,576,695 shares during the period. Pacer Advisors Inc. increased its position in Nucor by 29.7% during the second quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock worth $456,030,000 after buying an additional 660,866 shares during the last quarter. Ceredex Value Advisors LLC bought a new stake in Nucor in the third quarter valued at approximately $74,829,000. Nordea Investment Management AB lifted its position in shares of Nucor by 25.6% in the fourth quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company’s stock valued at $205,282,000 after buying an additional 358,721 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Nucor by 2.9% during the 3rd quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock worth $1,724,117,000 after acquiring an additional 326,181 shares during the period. Institutional investors own 76.48% of the company’s stock.

Nucor Trading Down 0.4 %

NYSE NUE traded down $0.50 during trading hours on Friday, reaching $117.68. The company’s stock had a trading volume of 523,474 shares, compared to its average volume of 2,006,227. The firm has a fifty day simple moving average of $137.20 and a 200-day simple moving average of $145.94. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61. Nucor Co. has a 52 week low of $112.25 and a 52 week high of $203.00. The stock has a market cap of $27.63 billion, a P/E ratio of 11.37 and a beta of 1.60.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $7.28 billion. During the same quarter in the previous year, the business earned $4.57 earnings per share. Nucor’s revenue was down 15.2% compared to the same quarter last year. Equities analysts forecast that Nucor Co. will post 8.48 earnings per share for the current fiscal year.

Nucor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st will be paid a $0.55 dividend. This is a boost from Nucor’s previous quarterly dividend of $0.54. The ex-dividend date is Tuesday, December 31st. This represents a $2.20 annualized dividend and a dividend yield of 1.87%. Nucor’s dividend payout ratio is presently 21.26%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. UBS Group reaffirmed a “neutral” rating and set a $156.00 price objective (down from $171.00) on shares of Nucor in a research report on Thursday, December 12th. The Goldman Sachs Group began coverage on shares of Nucor in a research note on Monday, December 2nd. They issued a “buy” rating and a $190.00 price target on the stock. Citigroup cut their price objective on shares of Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. JPMorgan Chase & Co. decreased their target price on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, BMO Capital Markets dropped their target price on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research report on Wednesday, September 18th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $165.63.

Insider Buying and Selling

In other Nucor news, EVP Allen C. Behr sold 4,968 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $159.72, for a total value of $793,488.96. Following the transaction, the executive vice president now directly owns 85,376 shares of the company’s stock, valued at approximately $13,636,254.72. The trade was a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kenneth Rex Query sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the sale, the executive vice president now directly owns 98,770 shares of the company’s stock, valued at approximately $14,499,436. This trade represents a 8.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,680 shares of company stock valued at $4,773,724 over the last ninety days. 0.46% of the stock is owned by company insiders.

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.