Dynamic Technology Lab Private Ltd Acquires Shares of 11,985 Nucor Co. (NYSE:NUE)

Dynamic Technology Lab Private Ltd bought a new position in shares of Nucor Co. (NYSE:NUE - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 11,985 shares of the basic materials company's stock, valued at approximately $1,802,000.

A number of other institutional investors have also made changes to their positions in NUE. McClarren Financial Advisors Inc. raised its holdings in shares of Nucor by 129.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company's stock valued at $25,000 after buying an additional 89 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Nucor during the third quarter worth about $26,000. Coastline Trust Co purchased a new stake in Nucor during the third quarter worth about $29,000. Brown Lisle Cummings Inc. acquired a new stake in shares of Nucor during the third quarter worth about $30,000. Finally, Salomon & Ludwin LLC boosted its stake in shares of Nucor by 45.6% in the third 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 period. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Stephen D. Laxton sold 4,712 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total transaction of $798,825.36. Following the completion of the sale, the chief financial officer now owns 82,132 shares in the company, valued at approximately $13,923,837.96. This represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $793,488.96. Following the completion of the transaction, the executive vice president now owns 85,376 shares in the company, valued at $13,636,254.72. This trade represents a 5.50 % decrease in their position. 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 quarter. 0.64% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Argus upgraded shares of Nucor to a "strong-buy" rating in a report on Monday, August 26th. Morgan Stanley reduced their price objective on 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. decreased their target price on Nucor from $170.00 to $168.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. Finally, BMO Capital Markets cut 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. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $190.57.

Nucor Stock Up 0.4 %

NYSE NUE traded up $0.60 during trading on Tuesday, reaching $154.04. 1,728,498 shares of the company's stock were exchanged, compared to its average volume of 1,559,295. The company has a 50 day moving average price of $150.12 and a two-hundred day moving average price of $153.67. The stock has a market cap of $36.17 billion, a P/E ratio of 14.88 and a beta of 1.55. Nucor Co. has a 1 year low of $133.42 and a 1 year 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 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. 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 firm's revenue was down 15.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.57 earnings per share. On average, equities research analysts anticipate that Nucor Co. will post 8.52 EPS for the current fiscal year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Friday, September 27th. Nucor's dividend payout ratio (DPR) is currently 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.