Commonwealth Equity Services LLC Sells 16,004 Shares of Nucor Co. (NYSE:NUE)

Commonwealth Equity Services LLC reduced its stake in Nucor Co. (NYSE:NUE) by 6.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 232,219 shares of the basic materials company’s stock after selling 16,004 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Nucor were worth $34,912,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. McClarren Financial Advisors Inc. lifted its holdings 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 last quarter. Chilton Capital Management LLC increased its position in Nucor by 94.2% during the 1st 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 during the first quarter worth $28,000. Salomon & Ludwin LLC bought a new stake in shares of Nucor in the first quarter valued at about $31,000. Finally, HHM Wealth Advisors LLC grew its stake in shares of Nucor by 769.2% in the second quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 200 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 99,049 shares in the company, valued at $15,847,840. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.46% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on NUE. BMO Capital Markets dropped their price objective on shares of 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. dropped their price target on shares of Nucor from $174.00 to $170.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Bank of America reduced their price target on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Argus raised Nucor to a “strong-buy” rating in a report on Monday, August 26th. Finally, Morgan Stanley reduced 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. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $191.43.

Nucor Trading Up 0.1 %

Shares of NUE stock opened at $158.24 on Monday. Nucor Co. has a fifty-two week low of $133.42 and a fifty-two week high of $203.00. The stock’s fifty day moving average price is $147.44 and its two-hundred day moving average price is $160.21. 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 cap of $37.94 billion, a PE ratio of 9.31 and a beta of 1.55.

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

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Friday, September 27th. Nucor’s dividend payout ratio is 12.71%.

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.