B. Metzler seel. Sohn & Co. Holding AG Makes New $1.48 Million Investment in Nucor Co. (NYSE:NUE)

B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Nucor Co. (NYSE:NUE) in the third quarter, Holdings Channel reports. The institutional investor acquired 9,850 shares of the basic materials company’s stock, valued at approximately $1,481,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NUE. McClarren Financial Advisors Inc. grew its stake in shares of Nucor by 129.0% during the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after buying an additional 89 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in Nucor during the 3rd quarter valued at about $26,000. Coastline Trust Co bought a new position in Nucor during the 3rd quarter worth approximately $29,000. Brown Lisle Cummings Inc. purchased a new position in Nucor in the 3rd quarter worth approximately $30,000. Finally, Salomon & Ludwin LLC boosted its stake in shares of Nucor by 45.6% during the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 72 shares during the period. Institutional investors own 76.48% of the company’s stock.

Wall Street Analysts Forecast Growth

NUE has been the topic of several analyst reports. Morgan Stanley decreased 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. Argus upgraded shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. 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 report on Wednesday, October 23rd. Finally, BMO Capital Markets dropped their price objective on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $190.57.

Nucor Stock Performance

Shares of NUE opened at $151.90 on Friday. Nucor Co. has a one year low of $133.42 and a one year high of $203.00. The company has a 50-day simple moving average of $149.67 and a two-hundred day simple moving average of $154.20. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61. The firm has a market capitalization of $35.67 billion, a PE ratio of 14.68 and a beta of 1.55.

Nucor (NYSE:NUE) last released 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. The company had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The firm’s revenue was down 15.2% on a year-over-year basis. During the same period in the previous year, the company posted $4.57 earnings per share. On average, analysts anticipate that Nucor Co. will post 8.52 EPS for the current fiscal year.

Nucor Announces Dividend

The firm 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 of this dividend was Friday, September 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.42%. Nucor’s payout ratio is 20.87%.

Insider Activity at Nucor

In related news, EVP Kenneth Rex Query sold 9,000 shares of the firm’s 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 completion of the transaction, the executive vice president now owns 98,770 shares of the company’s stock, valued at $14,499,436. This trade represents a 8.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Allen C. Behr sold 4,968 shares of Nucor stock in a transaction on Monday, November 11th. The shares were sold at an average price of $159.72, for a total value of $793,488.96. Following the transaction, the executive vice president now owns 85,376 shares of the company’s stock, valued at $13,636,254.72. The trade was a 5.50 % decrease in their position. 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 in the last three months. Company insiders own 0.46% of the company’s stock.

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.