Cwm LLC Sells 590 Shares of Nucor Co. (NYSE:NUE)

Cwm LLC lessened its holdings in Nucor Co. (NYSE:NUE) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,508 shares of the basic materials company’s stock after selling 590 shares during the quarter. Cwm LLC’s holdings in Nucor were worth $3,985,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. McClarren Financial Advisors Inc. raised its stake in Nucor by 129.0% during the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 89 shares in the last quarter. Rise Advisors LLC acquired a new stake in shares of Nucor during the 1st quarter worth about $27,000. Chilton Capital Management LLC lifted its holdings in Nucor by 94.2% during the 1st quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 65 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in Nucor in the first quarter valued at about $28,000. Finally, Tompkins Financial Corp grew its stake in Nucor by 208.0% during the first quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock worth $30,000 after buying an additional 104 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Activity

In related news, EVP Daniel R. Needham sold 8,624 shares of the firm’s stock in a transaction 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 sale, the executive vice president now 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.46% of the stock is owned by company insiders.

Nucor Trading Up 0.7 %

NUE opened at $151.91 on Friday. Nucor Co. has a fifty-two week low of $133.42 and a fifty-two week high of $203.00. The company has a market cap of $36.42 billion, a price-to-earnings ratio of 8.94 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85. The firm has a 50 day simple moving average of $146.67 and a 200 day simple moving average of $162.01.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $7.69 billion. During the same period in the previous year, the firm earned $5.81 earnings per share. The firm’s quarterly revenue was down 15.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Nucor Co. will post 9.1 earnings per share for the current year.

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be given a dividend of $0.54 per share. 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 1.42%. Nucor’s dividend payout ratio is 12.71%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on NUE shares. Argus raised Nucor to a “strong-buy” rating in a report on Monday, August 26th. Morgan Stanley decreased their target price on Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. BMO Capital Markets lowered their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday, September 18th. JPMorgan Chase & Co. decreased their price objective on shares of Nucor from $174.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, 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. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.