Nucor Co. (NYSE:NUE) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC cut its holdings in Nucor Co. (NYSE:NUE - Free Report) by 6.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 232,219 shares of the basic materials company's stock after selling 16,004 shares during the quarter. Commonwealth Equity Services LLC owned 0.10% of Nucor worth $34,912,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Pacer Advisors Inc. boosted its stake in Nucor by 29.7% during the second quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company's stock worth $456,030,000 after buying an additional 660,866 shares during the last quarter. Swedbank AB acquired a new position in Nucor during the first quarter worth $37,395,000. Captrust Financial Advisors boosted its stake in Nucor by 23.5% during the first quarter. Captrust Financial Advisors now owns 804,150 shares of the basic materials company's stock worth $159,141,000 after buying an additional 153,077 shares during the last quarter. Trinity Street Asset Management LLP acquired a new position in shares of Nucor in the 2nd quarter valued at $19,213,000. Finally, Hsbc Holdings PLC lifted its stake in shares of Nucor by 11.6% in the 2nd quarter. Hsbc Holdings PLC now owns 1,069,920 shares of the basic materials company's stock valued at $169,433,000 after purchasing an additional 111,177 shares during the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Daniel R. Needham sold 8,624 shares of the firm's stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the transaction, the executive vice president now owns 99,049 shares in the company, valued at $15,847,840. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.46% of the company's stock.

Nucor Stock Down 1.3 %

NYSE NUE traded down $2.05 during trading hours on Monday, hitting $156.19. 1,408,409 shares of the company were exchanged, compared to its average volume of 1,468,195. The company has a 50 day moving average of $147.44 and a two-hundred day moving average of $160.21. The company has a quick ratio of 1.85, a current ratio of 2.93 and a debt-to-equity ratio of 0.26. Nucor Co. has a 52-week low of $133.42 and a 52-week high of $203.00. The firm has a market cap of $37.45 billion, a price-to-earnings ratio of 9.31 and a beta of 1.55.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, beating analysts' consensus estimates of $2.31 by $0.37. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The business had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $7.69 billion. During the same quarter in the prior year, the business posted $5.81 EPS. The business's revenue for the quarter was down 15.2% on a year-over-year basis. Equities research analysts anticipate that Nucor Co. will post 9.08 earnings per share for the current year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.38%. Nucor's payout ratio is currently 12.71%.

Wall Street Analysts Forecast Growth

NUE has been the topic of several recent analyst reports. Bank of America decreased their price target on Nucor from $210.00 to $200.00 and set a "buy" rating on the stock in a research note on Wednesday, June 26th. JPMorgan Chase & Co. decreased their price target on Nucor from $174.00 to $170.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 9th. Argus raised Nucor to a "strong-buy" rating in a research note on Monday, August 26th. BMO Capital Markets decreased their price target 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. Finally, Morgan Stanley decreased their target price on Nucor from $176.00 to $170.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $191.43.

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.