Cerity Partners LLC Has $3.01 Million Stock Holdings in Nucor Co. (NYSE:NUE)

Cerity Partners LLC boosted its holdings in shares of Nucor Co. (NYSE:NUE) by 52.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 19,985 shares of the basic materials company’s stock after buying an additional 6,885 shares during the period. Cerity Partners LLC’s holdings in Nucor were worth $3,005,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Nwam LLC acquired a new position in shares of Nucor in the 3rd quarter valued at about $225,000. Meridian Wealth Management LLC acquired a new position in Nucor in the 3rd quarter valued at approximately $428,000. Charles Schwab Investment Management Inc. lifted its position in Nucor by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,612,216 shares of the basic materials company’s stock worth $242,381,000 after buying an additional 45,467 shares in the last quarter. Banco Santander S.A. boosted its stake in shares of Nucor by 329.7% during the 3rd quarter. Banco Santander S.A. now owns 68,399 shares of the basic materials company’s stock valued at $10,283,000 after buying an additional 52,483 shares during the period. Finally, Blackhawk Capital Partners LLC. grew its holdings in shares of Nucor by 47.8% during the 3rd quarter. Blackhawk Capital Partners LLC. now owns 3,679 shares of the basic materials company’s stock valued at $553,000 after acquiring an additional 1,189 shares in the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Nucor

In other news, CFO Stephen D. Laxton sold 4,712 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total transaction of $798,825.36. Following the sale, the chief financial officer now directly owns 82,132 shares in the company, valued at approximately $13,923,837.96. The trade was a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Allen C. Behr sold 4,968 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $159.72, for a total transaction of $793,488.96. Following the completion of the sale, the executive vice president now directly owns 85,376 shares in the company, valued at approximately $13,636,254.72. The trade was a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,680 shares of company stock valued at $4,773,724 in the last 90 days. 0.46% of the stock is currently owned by insiders.

Nucor Stock Down 0.1 %

Shares of Nucor stock opened at $154.69 on Friday. Nucor Co. has a 12-month low of $133.42 and a 12-month high of $203.00. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. The stock has a 50 day moving average price of $150.64 and a two-hundred day moving average price of $153.42. The stock has a market capitalization of $36.32 billion, a P/E ratio of 14.95 and a beta of 1.55.

Nucor (NYSE:NUE) last posted its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.09. The business had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. Nucor’s revenue was down 15.2% compared to the same quarter last year. During the same period last year, the business posted $4.57 EPS. Equities analysts expect that Nucor Co. will post 8.5 earnings per share for the current year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were paid a dividend of $0.54 per share. The ex-dividend date was Friday, September 27th. This represents a $2.16 annualized dividend and a yield of 1.40%. Nucor’s payout ratio is 20.87%.

Analyst Ratings Changes

NUE has been the subject of several recent research reports. Morgan Stanley cut their price objective on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Argus upgraded Nucor to a “strong-buy” rating in a report on Monday, August 26th. JPMorgan Chase & Co. lowered their price target on Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets cut 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. Three 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. According to data from MarketBeat.com, Nucor currently has a consensus rating of “Moderate Buy” and an average target price of $190.57.

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.