Nucor Co. (NYSE:NUE) Shares Sold by Bleakley Financial Group LLC

Bleakley Financial Group LLC lowered its holdings in Nucor Co. (NYSE:NUE) by 11.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,301 shares of the basic materials company’s stock after selling 533 shares during the period. Bleakley Financial Group LLC’s holdings in Nucor were worth $647,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in NUE. McClarren Financial Advisors Inc. boosted its position in Nucor by 129.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 89 shares during the period. Chilton Capital Management LLC boosted its position in shares of Nucor by 94.2% in the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock worth $27,000 after buying an additional 65 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of Nucor in the first quarter valued at about $28,000. Salomon & Ludwin LLC purchased a new stake in shares of Nucor during the 1st quarter valued at about $31,000. Finally, HHM Wealth Advisors LLC lifted its position in Nucor by 769.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Stock Down 1.3 %

NYSE:NUE opened at $156.11 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.85 and a current ratio of 2.93. The company has a market capitalization of $37.43 billion, a price-to-earnings ratio of 9.18 and a beta of 1.55. Nucor Co. has a one year low of $133.42 and a one year high of $203.00. The stock has a 50-day simple moving average of $147.74 and a 200 day simple moving average of $159.90.

Nucor (NYSE:NUE) last issued its earnings results on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, topping the consensus estimate of $2.31 by $0.37. The company had revenue of $8.08 billion during the quarter, compared to analyst estimates of $7.69 billion. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The business’s revenue was down 15.2% on a year-over-year basis. During the same quarter last year, the firm earned $5.81 EPS. Sell-side analysts predict that Nucor Co. will post 9.08 EPS for the current fiscal year.

Nucor Dividend Announcement

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

Insider Buying and Selling at Nucor

In other news, EVP Daniel R. Needham sold 8,624 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total value of $1,379,840.00. Following the transaction, the executive vice president now directly owns 99,049 shares in the company, valued at approximately $15,847,840. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.46% of the stock is owned by insiders.

Analysts Set New Price Targets

NUE has been the subject of several recent research reports. Bank of America lowered their price objective on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. BMO Capital Markets dropped their price target on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 18th. Argus raised shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. JPMorgan Chase & Co. lowered their target price on Nucor from $174.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Finally, Morgan Stanley cut their price target 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 investment 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. Based on data from MarketBeat, Nucor currently has an average rating of “Moderate Buy” and a consensus price target of $191.43.

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.