Quantinno Capital Management LP Purchases 6,141 Shares of Nucor Co. (NYSE:NUE)

Quantinno Capital Management LP lifted its holdings in shares of Nucor Co. (NYSE:NUE - Free Report) by 68.3% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,128 shares of the basic materials company's stock after buying an additional 6,141 shares during the period. Quantinno Capital Management LP's holdings in Nucor were worth $2,274,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Mizuho Securities USA LLC grew its position in Nucor by 8,530.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 1,595,179 shares of the basic materials company's stock worth $239,819,000 after acquiring an additional 1,576,695 shares during the last quarter. Pacer Advisors Inc. grew its position in Nucor by 29.7% during the 2nd quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company's stock worth $456,030,000 after acquiring an additional 660,866 shares during the last quarter. Ceredex Value Advisors LLC bought a new stake in Nucor during the 3rd quarter worth $74,829,000. International Assets Investment Management LLC grew its position in Nucor by 14,525.9% during 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 acquiring an additional 324,654 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Nucor in the 3rd quarter valued at about $46,731,000. Institutional investors and hedge funds own 76.48% of the company's stock.

Insider Transactions at Nucor

In other news, CFO Stephen D. Laxton sold 4,712 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 82,132 shares of the company's stock, valued at $13,923,837.96. This represents a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Kenneth Rex Query sold 9,000 shares of the company's stock in a transaction that occurred 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 directly owns 98,770 shares of the company's stock, valued at approximately $14,499,436. This represents a 8.35 % 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 over the last ninety days. 0.64% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on NUE. BMO Capital Markets reduced their price target on Nucor from $175.00 to $160.00 and set a "market perform" rating on the stock in a research report on Wednesday, September 18th. JPMorgan Chase & Co. reduced their price target on Nucor from $170.00 to $168.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. The Goldman Sachs Group started coverage on Nucor in a research note on Monday, December 2nd. They issued a "buy" rating and a $190.00 price objective on the stock. Morgan Stanley dropped their price objective on Nucor from $170.00 to $166.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. Finally, Argus raised Nucor to a "strong-buy" rating in a research note on Monday, August 26th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $190.50.

Nucor Stock Down 0.7 %

NUE stock traded down $0.95 during trading on Wednesday, reaching $139.61. 1,285,294 shares of the stock were exchanged, compared to its average volume of 1,563,054. The firm's 50 day moving average is $150.56 and its 200 day moving average is $152.29. Nucor Co. has a twelve month low of $133.42 and a twelve month high of $203.00. 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 firm has a market cap of $32.78 billion, a P/E ratio of 13.58 and a beta of 1.55.

Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.40 by $0.09. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The business had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.28 billion. During the same period in the prior year, the business earned $4.57 EPS. The firm's revenue for the quarter was down 15.2% on a year-over-year basis. As a group, research analysts forecast that Nucor Co. will post 8.5 EPS for the current year.

Nucor Increases Dividend

The business also recently disclosed 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 is an increase from Nucor's previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a dividend yield of 1.58%. Nucor's dividend payout ratio is 20.87%.

About Nucor

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.