Nucor Co. (NYSE:NUE) Shares Sold by Harbour Investments Inc.

Harbour Investments Inc. trimmed its holdings in shares of Nucor Co. (NYSE:NUE) by 45.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,537 shares of the basic materials company’s stock after selling 1,271 shares during the period. Harbour Investments Inc.’s holdings in Nucor were worth $231,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in NUE. Pacer Advisors Inc. grew its stake in shares of Nucor by 29.7% in 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 in the last quarter. Ceredex Value Advisors LLC purchased a new position in Nucor in the 3rd quarter worth approximately $74,829,000. International Assets Investment Management LLC grew its position in Nucor by 14,525.9% in 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 acquiring an additional 324,654 shares in the last quarter. Swedbank AB purchased a new stake in shares of Nucor during the first quarter valued at approximately $37,395,000. Finally, Captrust Financial Advisors lifted its position in shares of Nucor by 23.5% during the first quarter. Captrust Financial Advisors now owns 804,150 shares of the basic materials company’s stock worth $159,141,000 after purchasing an additional 153,077 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in 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 for the company in a report on Wednesday, September 18th. JPMorgan Chase & Co. lowered their target price on Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Argus upgraded Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Finally, Morgan Stanley reduced their price target on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $190.57.

Insider Transactions at Nucor

In other Nucor news, CFO Stephen D. Laxton sold 4,712 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total value of $798,825.36. Following the sale, the chief financial officer now directly owns 82,132 shares of the company’s stock, valued at $13,923,837.96. This trade represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Allen C. Behr sold 4,968 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $159.72, for a total transaction of $793,488.96. Following the transaction, the executive vice president now directly owns 85,376 shares of the company’s stock, valued at approximately $13,636,254.72. This trade represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,680 shares of company stock worth $4,773,724. 0.46% of the stock is currently owned by insiders.

Nucor Stock Up 0.5 %

NYSE:NUE opened at $147.08 on Monday. The stock has a 50-day simple moving average of $148.88 and a 200 day simple moving average of $154.87. Nucor Co. has a one year low of $133.42 and a one year high of $203.00. The company has a market capitalization of $34.54 billion, a price-to-earnings ratio of 14.21 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59.

Nucor (NYSE:NUE) last issued its earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $7.28 billion. During the same quarter last year, the firm earned $4.57 EPS. The business’s revenue was down 15.2% on a year-over-year basis. Sell-side analysts predict that Nucor Co. will post 8.52 EPS for the current fiscal year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, September 27th were issued a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.47%. Nucor’s dividend payout ratio (DPR) is 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.