Janney Montgomery Scott LLC Sells 38,793 Shares of Nucor Co. (NYSE:NUE)

Janney Montgomery Scott LLC decreased its holdings in Nucor Co. (NYSE:NUE) by 23.2% in the third quarter, Holdings Channel.com reports. The firm owned 128,538 shares of the basic materials company’s stock after selling 38,793 shares during the period. Janney Montgomery Scott LLC’s holdings in Nucor were worth $19,324,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its stake in shares of Nucor by 29.7% during the second quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock valued at $456,030,000 after buying an additional 660,866 shares during the last quarter. Ceredex Value Advisors LLC bought a new stake in Nucor in the third quarter valued at approximately $74,829,000. International Assets Investment Management LLC boosted its stake in shares of Nucor by 14,525.9% during the third quarter. International Assets Investment Management LLC now owns 326,889 shares of the basic materials company’s stock valued at $49,144,000 after purchasing an additional 324,654 shares during the period. Swedbank AB bought a new position in shares of Nucor in the first quarter worth approximately $37,395,000. Finally, Captrust Financial Advisors raised its holdings in Nucor by 23.5% during the 1st quarter. Captrust Financial Advisors now owns 804,150 shares of the basic materials company’s stock valued at $159,141,000 after buying an additional 153,077 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

NUE has been the topic of a number of recent analyst reports. Morgan Stanley cut their price target on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Argus raised Nucor to a “strong-buy” rating in a research note on Monday, August 26th. BMO Capital Markets reduced their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. cut their target price on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. 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 company’s stock. According to data from MarketBeat.com, Nucor currently has an average rating of “Moderate Buy” and an average target price of $190.57.

Insider Transactions at Nucor

In other news, EVP Kenneth Rex Query sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the transaction, the executive vice president now owns 98,770 shares in the company, valued at approximately $14,499,436. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.64% of the stock is owned by insiders.

Nucor Trading Up 1.4 %

Shares of NYSE NUE opened at $144.61 on Wednesday. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00. 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 50-day moving average of $147.29 and a 200 day moving average of $155.87. The stock has a market cap of $34.32 billion, a P/E ratio of 13.97 and a beta of 1.55.

Nucor (NYSE:NUE) last issued its quarterly earnings results 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 firm had revenue of $7.44 billion for the quarter, compared to analysts’ expectations of $7.28 billion. During the same period in the previous year, the firm posted $4.57 EPS. The business’s revenue for the quarter was down 15.2% compared to the same quarter last year. As a group, sell-side analysts expect that Nucor Co. will post 8.65 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 issued a dividend of $0.54 per share. The ex-dividend date is Friday, September 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.49%. Nucor’s payout ratio is presently 20.87%.

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.