Hartford Investment Management Co. Sells 594 Shares of Nucor Co. (NYSE:NUE)

Hartford Investment Management Co. decreased its stake in shares of Nucor Co. (NYSE:NUE) by 3.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 14,748 shares of the basic materials company’s stock after selling 594 shares during the quarter. Hartford Investment Management Co.’s holdings in Nucor were worth $2,217,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in NUE. Chilton Capital Management LLC increased its stake in Nucor by 94.2% during the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 65 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of Nucor during the 1st quarter worth approximately $28,000. Salomon & Ludwin LLC bought a new stake in shares of Nucor during the first quarter valued at approximately $31,000. McClarren Financial Advisors Inc. raised its stake in shares of 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 in the last quarter. Finally, Brown Lisle Cummings Inc. bought a new position in Nucor in the third quarter worth $30,000. Institutional investors own 76.48% of the company’s stock.

Nucor Stock Down 0.2 %

Shares of NUE opened at $141.34 on Friday. The company has a market capitalization of $33.55 billion, a P/E ratio of 13.66 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 business’s 50 day simple moving average is $147.81 and its 200-day simple moving average is $159.39. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.85.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 EPS 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 company had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.28 billion. During the same quarter in the previous year, the firm earned $4.57 earnings per share. The business’s revenue was down 15.2% on a year-over-year basis. As a group, sell-side analysts predict that Nucor Co. will post 9.08 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.53%. Nucor’s dividend payout ratio (DPR) is currently 20.87%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. BMO Capital Markets lowered their price target on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday, September 18th. JPMorgan Chase & Co. dropped their price target on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research report on Wednesday. Morgan Stanley cut their price target on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Argus upgraded Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $190.57.

Insider Buying and Selling

In other news, EVP Daniel R. Needham sold 8,624 shares of Nucor stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total value of $1,379,840.00. Following the completion of the sale, the executive vice president now directly owns 99,049 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

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.