Aigen Investment Management LP Sells 6,454 Shares of Nucor Co. (NYSE:NUE)

Aigen Investment Management LP lowered its holdings in Nucor Co. (NYSE:NUE - Free Report) by 45.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,640 shares of the basic materials company's stock after selling 6,454 shares during the quarter. Aigen Investment Management LP's holdings in Nucor were worth $1,149,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NUE. Envestnet Portfolio Solutions Inc. boosted its position in shares of Nucor by 32.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 6,638 shares of the basic materials company's stock worth $1,314,000 after acquiring an additional 1,614 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Nucor in the 1st quarter worth approximately $53,000. Bleakley Financial Group LLC grew its holdings in shares of Nucor by 3.8% in the 1st quarter. Bleakley Financial Group LLC now owns 5,204 shares of the basic materials company's stock worth $1,030,000 after acquiring an additional 189 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in Nucor by 10.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 303,716 shares of the basic materials company's stock valued at $60,105,000 after buying an additional 27,817 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Nucor by 15.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 323,350 shares of the basic materials company's stock valued at $63,991,000 after buying an additional 43,093 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company's stock.

Insider Transactions at Nucor

In other 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 transaction of $1,321,200.00. Following the completion of the sale, the executive vice president now owns 98,770 shares of the company's stock, valued at approximately $14,499,436. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 approximately $14,499,436. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Stephen D. Laxton sold 4,712 shares of the stock in a transaction on Wednesday, November 6th. The stock was 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 of the company's stock, valued at approximately $13,923,837.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,680 shares of company stock worth $4,773,724 in the last ninety days. Insiders own 0.46% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NUE shares. BMO Capital Markets decreased their price objective 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 research report on Monday, August 26th. Morgan Stanley dropped their target price on Nucor from $170.00 to $166.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on Nucor from $170.00 to $168.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. 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. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $190.57.

Nucor Price Performance

Shares of Nucor stock traded down $1.67 during midday trading on Wednesday, reaching $152.22. The company had a trading volume of 2,465,116 shares, compared to its average volume of 1,548,593. Nucor Co. has a 1-year low of $133.42 and a 1-year high of $203.00. The company has a market capitalization of $35.74 billion, a price-to-earnings ratio of 14.75 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. The stock has a fifty day simple moving average of $148.37 and a 200 day simple moving average of $155.24.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.40 by $0.09. The company had revenue of $7.44 billion for the quarter, compared to analysts' expectations of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The business's quarterly revenue was down 15.2% compared to the same quarter last year. During the same period last year, the firm posted $4.57 earnings per share. As a group, equities research analysts forecast that Nucor Co. will post 8.52 earnings per share for the current year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, September 27th were paid a $0.54 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.16 annualized dividend and a yield of 1.42%. Nucor's payout ratio is currently 20.87%.

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.