Court Place Advisors LLC Has $342,000 Stock Holdings in Nucor Co. (NYSE:NUE)

Court Place Advisors LLC trimmed its position in Nucor Co. (NYSE:NUE) by 11.7% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 2,275 shares of the basic materials company’s stock after selling 300 shares during the period. Court Place Advisors LLC’s holdings in Nucor were worth $342,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. McClarren Financial Advisors Inc. boosted its holdings in Nucor by 129.0% in the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 89 shares during the last quarter. Chilton Capital Management LLC lifted its position in Nucor by 94.2% during the 1st quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 65 shares during the period. Central Pacific Bank Trust Division bought a new position in shares of Nucor in the 1st quarter valued at about $28,000. Brown Lisle Cummings Inc. acquired a new stake in shares of Nucor during the 3rd quarter worth approximately $30,000. Finally, Salomon & Ludwin LLC bought a new stake in shares of Nucor during the first quarter worth approximately $31,000. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor Trading Up 1.9 %

Shares of NYSE NUE traded up $2.72 during midday trading on Friday, reaching $144.06. 156,165 shares of the stock were exchanged, compared to its average volume of 1,492,089. Nucor Co. has a 12 month low of $133.42 and a 12 month high of $203.00. The company has a market capitalization of $34.19 billion, a price-to-earnings ratio of 13.66 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.85. The business has a 50-day simple moving average of $147.81 and a two-hundred day simple moving average of $159.39.

Nucor (NYSE:NUE) last posted its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.09. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The firm had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.28 billion. During the same period in the previous year, the company posted $4.57 earnings per share. The company’s revenue for the quarter was down 15.2% on a year-over-year basis. As a group, equities research analysts expect that Nucor Co. will post 9.08 EPS for the current year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be given a $0.54 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.50%. Nucor’s dividend payout ratio is presently 20.87%.

Analysts Set New Price Targets

A number of brokerages have issued reports on NUE. Morgan Stanley reduced 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. JPMorgan Chase & Co. cut their price target on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research note on Wednesday. Argus upgraded Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Finally, BMO Capital Markets dropped 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 investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $190.57.

Insider Buying and Selling

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of Nucor stock in a transaction that occurred on Wednesday, July 31st. The shares were 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 of the company’s stock, valued at approximately $15,847,840. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.46% of the stock is owned by company insiders.

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.