Nucor Co. (NYSE:NUE) Holdings Cut by Cypress Capital Group

Cypress Capital Group cut its holdings in Nucor Co. (NYSE:NUE) by 9.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,754 shares of the basic materials company’s stock after selling 591 shares during the quarter. Cypress Capital Group’s holdings in Nucor were worth $865,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Nucor

In other Nucor news, EVP Allen C. Behr sold 4,968 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $159.72, for a total transaction of $793,488.96. Following the sale, the executive vice president now directly owns 85,376 shares in the company, valued at approximately $13,636,254.72. The trade was a 5.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $1,321,200.00. Following the completion of the transaction, the executive vice president now owns 98,770 shares in the company, valued at approximately $14,499,436. This 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 quarter. 0.46% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on NUE shares. JPMorgan Chase & Co. decreased their price objective on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. BMO Capital Markets decreased 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. Argus raised shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. Finally, Morgan Stanley decreased their price objective on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Nucor has an average rating of “Moderate Buy” and an average target price of $190.57.

Nucor Stock Performance

Shares of NUE opened at $149.99 on Friday. The firm has a market cap of $35.22 billion, a PE ratio of 14.49 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 1.61. The stock’s fifty day moving average price is $149.51 and its two-hundred day moving average price is $154.33. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00.

Nucor (NYSE:NUE) last posted its quarterly 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. 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%. The company’s revenue was down 15.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.57 earnings per share. On average, equities research analysts forecast that Nucor Co. will post 8.52 EPS for the current year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, September 27th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend was Friday, September 27th. Nucor’s dividend payout ratio (DPR) is 20.87%.

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.