Franklin Resources Inc. Trims Position in Nucor Co. (NYSE:NUE)

Franklin Resources Inc. cut its holdings in Nucor Co. (NYSE:NUE - Free Report) by 34.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 364,510 shares of the basic materials company's stock after selling 189,735 shares during the quarter. Franklin Resources Inc. owned about 0.16% of Nucor worth $55,712,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of NUE. McClarren Financial Advisors Inc. raised 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 during the last quarter. Ashton Thomas Securities LLC bought a new position in Nucor in the third quarter valued at approximately $26,000. Coastline Trust Co acquired a new stake in shares of Nucor during the third quarter worth $29,000. Brown Lisle Cummings Inc. bought a new position in Nucor during the third quarter worth about $30,000. Finally, HHM Wealth Advisors LLC increased its holdings in shares of Nucor by 769.2% in the second quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company's stock worth $36,000 after acquiring an additional 200 shares in the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Nucor

In other news, CFO Stephen D. Laxton sold 4,712 shares of Nucor stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total value of $798,825.36. Following the transaction, the chief financial officer now directly owns 82,132 shares in the company, valued at approximately $13,923,837.96. This trade represents a 5.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kenneth Rex Query sold 9,000 shares of the firm's stock in a transaction 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 completion of the transaction, the executive vice president now owns 98,770 shares of the company's stock, valued at $14,499,436. This trade represents a 8.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,680 shares of company stock valued at $4,773,724. 0.46% of the stock is owned by company insiders.

Nucor Price Performance

Shares of NYSE:NUE traded down $3.20 during trading on Tuesday, hitting $120.96. 3,289,382 shares of the company were exchanged, compared to its average volume of 1,589,615. Nucor Co. has a 1-year low of $119.44 and a 1-year high of $203.00. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $28.40 billion, a P/E ratio of 12.00 and a beta of 1.55. The business's 50 day moving average is $148.56 and its 200-day moving average is $150.99.

Nucor (NYSE:NUE - Get Free Report) last issued its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.40 by $0.09. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. During the same period in the prior year, the firm posted $4.57 EPS. The firm's quarterly revenue was down 15.2% compared to the same quarter last year. Equities analysts forecast that Nucor Co. will post 8.48 earnings per share for the current year.

Nucor Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Tuesday, December 31st. This is an increase from Nucor's previous quarterly dividend of $0.54. Nucor's dividend payout ratio is currently 20.87%.

Analysts Set New Price Targets

NUE has been the topic of a number of recent analyst reports. Argus raised Nucor to a "strong-buy" rating in a research note on Monday, August 26th. Morgan Stanley cut their price target on shares of Nucor from $170.00 to $166.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their target price on Nucor from $170.00 to $168.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. UBS Group restated a "neutral" rating and issued a $156.00 price objective (down from $171.00) on shares of Nucor in a report on Thursday, December 12th. Finally, BMO Capital Markets cut their target price on shares of Nucor from $175.00 to $160.00 and set a "market perform" rating for the company in a research report on Wednesday, September 18th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $183.75.

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.