BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 6,106 Shares of Nucor Co. (NYSE:NUE)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its position in shares of Nucor Co. (NYSE:NUE - Free Report) by 13.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,008 shares of the basic materials company's stock after selling 6,106 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Nucor were worth $6,015,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of Nucor by 37.8% in the second quarter. GAMMA Investing LLC now owns 2,535 shares of the basic materials company's stock valued at $401,000 after purchasing an additional 695 shares during the last quarter. First Hawaiian Bank raised its holdings in Nucor by 41.6% in the 2nd quarter. First Hawaiian Bank now owns 1,720 shares of the basic materials company's stock valued at $272,000 after acquiring an additional 505 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in Nucor by 51.5% during the second quarter. Massmutual Trust Co. FSB ADV now owns 2,363 shares of the basic materials company's stock worth $374,000 after acquiring an additional 803 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Nucor during the second quarter worth approximately $38,000. Finally, Park Avenue Securities LLC boosted its holdings in shares of Nucor by 1.0% during the second quarter. Park Avenue Securities LLC now owns 8,914 shares of the basic materials company's stock worth $1,409,000 after acquiring an additional 90 shares during the period. 76.48% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Kenneth Rex Query sold 9,000 shares of the company's stock in a transaction 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 sale, the executive vice president now owns 98,770 shares in the company, valued at $14,499,436. This represents a 8.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Leon J. Topalian sold 11,000 shares of the company's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the completion of the sale, the chief executive officer now directly owns 172,136 shares of the company's stock, valued at $29,109,918.96. The trade was a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,680 shares of company stock worth $4,773,724. Corporate insiders own 0.64% of the company's stock.

Nucor Trading Down 0.9 %

Shares of NYSE NUE traded down $1.39 during midday trading on Tuesday, reaching $154.98. The stock had a trading volume of 2,042,586 shares, compared to its average volume of 1,557,855. Nucor Co. has a twelve month low of $133.42 and a twelve month high of $203.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59. The company's 50 day moving average price is $150.91 and its 200 day moving average price is $153.02. The firm has a market cap of $36.39 billion, a price-to-earnings ratio of 14.97 and a beta of 1.55.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.40 by $0.09. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The company had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.28 billion. During the same period in the previous year, the business earned $4.57 EPS. The firm's revenue was down 15.2% compared to the same quarter last year. As a group, sell-side analysts expect that Nucor Co. will post 8.5 EPS for the current year.

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date was Friday, September 27th. Nucor's dividend payout ratio (DPR) is currently 20.87%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Morgan Stanley decreased their price target 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. lowered their target price on shares of 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 cut their price target on 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 Nucor to a "strong-buy" rating in a research report on Monday, August 26th. Finally, The Goldman Sachs Group started coverage on Nucor in a report on Monday. They issued a "buy" rating and a $190.00 price objective for the company. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $190.50.

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.