Baker Avenue Asset Management LP Purchases 10,048 Shares of Nucor Co. (NYSE:NUE)

Baker Avenue Asset Management LP grew its stake in shares of Nucor Co. (NYSE:NUE - Free Report) by 29.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 44,752 shares of the basic materials company's stock after buying an additional 10,048 shares during the quarter. Baker Avenue Asset Management LP's holdings in Nucor were worth $6,728,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. McClarren Financial Advisors Inc. raised its position in Nucor by 129.0% in the second 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. Chilton Capital Management LLC raised its holdings in Nucor by 94.2% in the 1st quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company's stock valued at $27,000 after buying an additional 65 shares during the last quarter. Brown Lisle Cummings Inc. acquired a new stake in Nucor during the 3rd quarter worth approximately $30,000. Salomon & Ludwin LLC grew its holdings in Nucor by 45.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company's stock worth $35,000 after acquiring an additional 72 shares during the last quarter. Finally, HHM Wealth Advisors LLC increased its position in Nucor by 769.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company's stock valued at $36,000 after acquiring an additional 200 shares during the period. 76.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Nucor from $170.00 to $168.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. Morgan Stanley decreased their price target on Nucor from $170.00 to $166.00 and set an "overweight" rating for the company in a research note on Wednesday, October 23rd. Argus raised Nucor to a "strong-buy" rating in a research note on Monday, August 26th. Finally, BMO Capital Markets decreased 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. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $190.57.

Insider Activity

In related news, EVP Kenneth Rex Query sold 9,000 shares of the company'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 transaction of $1,321,200.00. Following the transaction, the executive vice president now directly owns 98,770 shares of the company's stock, valued at approximately $14,499,436. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Stephen D. Laxton sold 4,712 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total value of $798,825.36. Following the transaction, the chief financial officer now owns 82,132 shares of the company's stock, valued at approximately $13,923,837.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kenneth Rex Query sold 9,000 shares of the 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 completion of the sale, the executive vice president now directly owns 98,770 shares of the company's stock, valued at approximately $14,499,436. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,712 shares of company stock worth $3,980,235 in the last three months. Company insiders own 0.46% of the company's stock.

Nucor Trading Down 1.4 %

NYSE NUE traded down $2.33 during trading hours on Friday, hitting $158.84. 1,704,765 shares of the company's stock were exchanged, compared to its average volume of 2,266,296. The firm has a market cap of $37.30 billion, a price-to-earnings ratio of 15.35 and a beta of 1.55. The stock has a 50-day simple moving average of $148.04 and a 200 day simple moving average of $155.63. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. Nucor Co. has a 1-year low of $133.42 and a 1-year high of $203.00.

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, topping 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 company had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. During the same quarter last year, the firm posted $4.57 EPS. The company's quarterly revenue was down 15.2% on a year-over-year basis. On average, equities analysts forecast that Nucor Co. will post 8.6 EPS for the current fiscal year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were issued a dividend of $0.54 per share. The ex-dividend date was Friday, September 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.36%. Nucor's dividend payout ratio is currently 20.87%.

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.