Metis Global Partners LLC Increases Stock Holdings in Nucor Co. (NYSE:NUE)

Metis Global Partners LLC increased its holdings in shares of Nucor Co. (NYSE:NUE - Free Report) by 21.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,554 shares of the basic materials company's stock after purchasing an additional 3,737 shares during the quarter. Metis Global Partners LLC's holdings in Nucor were worth $3,240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Pacer Advisors Inc. lifted its holdings in Nucor by 29.7% in the second quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company's stock valued at $456,030,000 after acquiring an additional 660,866 shares during the period. Ceredex Value Advisors LLC purchased a new stake in Nucor during the 3rd quarter valued at approximately $74,829,000. International Assets Investment Management LLC lifted its stake in Nucor by 14,525.9% in the 3rd quarter. International Assets Investment Management LLC now owns 326,889 shares of the basic materials company's stock worth $49,144,000 after purchasing an additional 324,654 shares in the last quarter. Swedbank AB bought a new position in Nucor during the first quarter valued at approximately $37,395,000. Finally, Captrust Financial Advisors boosted its position in shares of Nucor by 23.5% during the 1st quarter. Captrust Financial Advisors now owns 804,150 shares of the basic materials company's stock valued at $159,141,000 after acquiring an additional 153,077 shares during the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Stock Performance

Shares of NYSE NUE traded up $0.70 during midday trading on Friday, reaching $147.08. The company had a trading volume of 1,488,566 shares, compared to its average volume of 1,549,564. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. The business's 50-day simple moving average is $148.72 and its 200 day simple moving average is $155.16. The stock has a market cap of $34.54 billion, a P/E ratio of 14.16 and a beta of 1.55. 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 results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.09. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The company had revenue of $7.44 billion during the quarter, compared to analysts' expectations of $7.28 billion. During the same period last year, the business earned $4.57 earnings per share. Nucor's quarterly revenue was down 15.2% on a year-over-year basis. On average, analysts forecast that Nucor Co. will post 8.52 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were paid a $0.54 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.47%. Nucor's dividend payout ratio is currently 20.87%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. BMO Capital Markets reduced their price objective on Nucor from $175.00 to $160.00 and set a "market perform" rating on the stock in a research note on Wednesday, September 18th. Morgan Stanley dropped their target price on shares of 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 price objective on Nucor from $170.00 to $168.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. Finally, Argus upgraded Nucor to a "strong-buy" rating in a report on Monday, August 26th. Three 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 data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $190.57.

Insider Activity

In related news, EVP Kenneth Rex Query sold 9,000 shares of Nucor 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 owns 98,770 shares in the company, valued at approximately $14,499,436. This trade represents a 8.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Allen C. Behr sold 4,968 shares of the company's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $159.72, for a total transaction of $793,488.96. Following the completion of the sale, the executive vice president now directly owns 85,376 shares of the company's stock, valued at $13,636,254.72. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,680 shares of company stock worth $4,773,724 over the last 90 days. 0.46% of the stock is currently owned by company insiders.

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.