Braun Stacey Associates Inc. Sells 162 Shares of Nucor Co. (NYSE:NUE)

Braun Stacey Associates Inc. reduced its position in shares of Nucor Co. (NYSE:NUE) by 0.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 127,056 shares of the basic materials company’s stock after selling 162 shares during the quarter. Braun Stacey Associates Inc.’s holdings in Nucor were worth $19,102,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. TIAA Trust National Association bought a new stake in shares of Nucor during the 1st quarter valued at $213,000. Trustmark National Bank Trust Department bought a new position in Nucor in the first quarter valued at about $920,000. Seven Eight Capital LP bought a new position in Nucor in the first quarter valued at about $637,000. UniSuper Management Pty Ltd raised its position in Nucor by 257.1% in the first quarter. UniSuper Management Pty Ltd now owns 8,245 shares of the basic materials company’s stock valued at $1,632,000 after purchasing an additional 5,936 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in Nucor by 43.3% in the first quarter. Bessemer Group Inc. now owns 21,400 shares of the basic materials company’s stock valued at $4,235,000 after purchasing an additional 6,466 shares during the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor Stock Performance

NYSE:NUE opened at $147.08 on Monday. 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 business has a fifty day simple moving average of $148.88 and a two-hundred day simple moving average of $154.87. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00. The company has a market capitalization of $34.54 billion, a P/E ratio of 14.21 and a beta of 1.55.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.09. The company had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The firm’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same period in the previous year, the business earned $4.57 earnings per share. On average, analysts expect that Nucor Co. will post 8.52 earnings per share for the current year.

Nucor Announces Dividend

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

Insider Buying and Selling

In other Nucor news, EVP Kenneth Rex Query sold 9,000 shares of Nucor stock in a transaction dated Tuesday, October 29th. The stock was 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 owns 98,770 shares of the company’s stock, valued at $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 SEC, which is available at this hyperlink. Also, CFO Stephen D. Laxton sold 4,712 shares of Nucor stock in a transaction dated 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 approximately $13,923,837.96. This trade represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,680 shares of company stock worth $4,773,724 over the last ninety days. 0.46% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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