Accredited Investors Inc. Lowers Holdings in Nucor Co. (NYSE:NUE)

Accredited Investors Inc. lowered its stake in shares of Nucor Co. (NYSE:NUE) by 3.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,010 shares of the basic materials company’s stock after selling 100 shares during the period. Accredited Investors Inc.’s holdings in Nucor were worth $452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. McClarren Financial Advisors Inc. grew 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 valued at $25,000 after acquiring an additional 89 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Nucor during the 3rd quarter valued at about $26,000. Coastline Trust Co purchased a new position in shares of Nucor during the third quarter valued at about $29,000. Brown Lisle Cummings Inc. bought a new stake in shares of Nucor in the third quarter worth about $30,000. Finally, Salomon & Ludwin LLC lifted its position in shares of Nucor by 45.6% in the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after buying an additional 72 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Stock Up 0.5 %

NYSE NUE opened at $147.08 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. Nucor Co. has a 52 week low of $133.42 and a 52 week high of $203.00. The firm 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 fifty day moving average of $148.88 and a two-hundred day moving average of $154.96.

Nucor (NYSE:NUE) last released 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 net margin of 8.05% and a return on equity of 12.06%. The firm had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.28 billion. During the same period in the previous year, the company earned $4.57 EPS. The firm’s revenue for the quarter was down 15.2% compared to the same quarter last year. On average, analysts predict that Nucor Co. will post 8.52 earnings per share for the current year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were issued a $0.54 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.47%. Nucor’s payout ratio is 20.87%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. cut their price target on Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Morgan Stanley reduced their price target on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Argus upgraded shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Finally, BMO Capital Markets reduced their target price on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $190.57.

Insider Activity at Nucor

In other news, EVP Kenneth Rex Query sold 9,000 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the completion of the sale, the executive vice president now directly owns 98,770 shares of the company’s stock, valued at approximately $14,499,436. The trade was a 8.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, the executive vice president now owns 85,376 shares in the company, valued at approximately $13,636,254.72. The trade was a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,680 shares of company stock worth $4,773,724 in the last quarter. 0.46% of the stock is owned by company insiders.

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.