Concord Asset Management LLC VA Decreases Stock Holdings in Nucor Co. (NYSE:NUE)

Concord Asset Management LLC VA trimmed its stake in Nucor Co. (NYSE:NUE - Free Report) by 66.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,793 shares of the basic materials company's stock after selling 3,582 shares during the quarter. Concord Asset Management LLC VA's holdings in Nucor were worth $269,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. McClarren Financial Advisors Inc. increased its stake in Nucor by 129.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 89 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Nucor during the third quarter valued at approximately $26,000. Coastline Trust Co purchased a new position in Nucor in the 3rd quarter worth approximately $29,000. Brown Lisle Cummings Inc. bought a new position in Nucor in the 3rd quarter valued at approximately $30,000. Finally, Salomon & Ludwin LLC boosted its stake in Nucor by 45.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company's stock valued at $35,000 after purchasing an additional 72 shares during the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. BMO Capital Markets lowered their price target on Nucor from $175.00 to $160.00 and set a "market perform" rating on the stock in a report on Wednesday, September 18th. Morgan Stanley lowered their price objective on shares of Nucor from $170.00 to $166.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their target price on shares of Nucor from $170.00 to $168.00 and set an "overweight" rating for the company in a research note on Wednesday, October 23rd. Finally, Argus raised Nucor to a "strong-buy" rating in a report on Monday, August 26th. 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 currently has an average rating of "Moderate Buy" and a consensus target price of $190.57.

Insider Activity

In other news, CEO Leon J. Topalian sold 11,000 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total value of $1,860,210.00. Following the sale, the chief executive officer now directly owns 172,136 shares in the company, valued at $29,109,918.96. The trade was a 6.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kenneth Rex Query sold 9,000 shares of the business'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 value of $1,321,200.00. Following the sale, the executive vice president now directly owns 98,770 shares in the company, valued at $14,499,436. The trade was a 8.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,680 shares of company stock worth $4,773,724 over the last 90 days. Corporate insiders own 0.46% of the company's stock.

Nucor Stock Performance

Shares of NYSE NUE traded up $0.70 during trading on Friday, hitting $147.08. The company had a trading volume of 1,519,866 shares, compared to its average volume of 2,390,578. The stock has a 50 day simple moving average of $148.88 and a 200 day simple moving average of $154.87. The firm has a market capitalization of $34.54 billion, a P/E ratio of 14.21 and a beta of 1.55. Nucor Co. has a 12 month low of $133.42 and a 12 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.

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

Nucor Dividend Announcement

The business also recently announced 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. The ex-dividend date was Friday, September 27th. This represents a $2.16 annualized dividend and a yield of 1.47%. Nucor's payout ratio is 20.87%.

About Nucor

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.