CCM Investment Advisers LLC Lowers Holdings in Nucor Co. (NYSE:NUE)

CCM Investment Advisers LLC decreased its holdings in Nucor Co. (NYSE:NUE - Free Report) by 92.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,315 shares of the basic materials company's stock after selling 56,596 shares during the period. CCM Investment Advisers LLC's holdings in Nucor were worth $504,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of NUE. Ashton Thomas Securities LLC purchased a new position in shares of Nucor during the third quarter worth approximately $26,000. Coastline Trust Co purchased a new position in Nucor in the 3rd quarter worth $29,000. Brown Lisle Cummings Inc. bought a new stake in Nucor in the third quarter worth $30,000. HHM Wealth Advisors LLC boosted its position in Nucor by 769.2% during the second quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company's stock valued at $36,000 after buying an additional 200 shares during the period. Finally, Salomon & Ludwin LLC grew its stake in shares of Nucor by 45.6% during the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company's stock valued at $35,000 after buying an additional 72 shares during the last quarter. Institutional investors own 76.48% of the company's stock.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Kenneth Rex Query sold 9,000 shares of the firm'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 transaction, the executive vice president now owns 98,770 shares of the company's stock, valued at approximately $14,499,436. This trade represents a 8.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Allen C. Behr sold 4,968 shares of the business's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $159.72, for a total transaction of $793,488.96. Following the sale, the executive vice president now directly owns 85,376 shares in the company, valued at $13,636,254.72. This trade represents a 5.50 % 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 valued at $4,773,724 in the last ninety days. Corporate insiders own 0.46% of the company's stock.

Nucor Price Performance

Shares of Nucor stock traded up $0.44 during trading on Friday, reaching $118.62. 2,643,929 shares of the stock traded hands, compared to its average volume of 2,365,338. The business has a fifty day simple moving average of $137.20 and a two-hundred day simple moving average of $145.94. Nucor Co. has a 52-week low of $112.25 and a 52-week high of $203.00. The company has a market capitalization of $27.85 billion, a price-to-earnings ratio of 11.46 and a beta of 1.60. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61.

Nucor (NYSE:NUE - Get Free Report) last issued its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.40 by $0.09. The business had revenue of $7.44 billion during 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 revenue was down 15.2% on a year-over-year basis. During the same period last year, the company posted $4.57 EPS. Sell-side analysts expect that Nucor Co. will post 8.48 EPS for the current year.

Nucor Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.55 per share. This is an increase from Nucor's previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Tuesday, December 31st. Nucor's dividend payout ratio (DPR) is presently 21.26%.

Wall Street Analyst Weigh In

A number of research firms recently commented on NUE. JPMorgan Chase & Co. lowered their price target on shares of Nucor from $170.00 to $168.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. UBS Group reissued a "neutral" rating and issued a $156.00 target price (down from $171.00) on shares of Nucor in a research note on Thursday, December 12th. BMO Capital Markets dropped their price objective on Nucor from $175.00 to $160.00 and set a "market perform" rating for the company in a report on Wednesday, September 18th. The Goldman Sachs Group started coverage on Nucor in a research note on Monday, December 2nd. They set a "buy" rating and a $190.00 target price on the stock. Finally, Citigroup cut their price target on shares of Nucor from $240.00 to $160.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Nucor currently has a consensus rating of "Moderate Buy" and a consensus price target of $165.63.

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.