CFS Investment Advisory Services LLC Has $2.82 Million Position in Nucor Co. (NYSE:NUE)

CFS Investment Advisory Services LLC cut its holdings in shares of Nucor Co. (NYSE:NUE) by 0.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 18,779 shares of the basic materials company’s stock after selling 143 shares during the quarter. CFS Investment Advisory Services LLC’s holdings in Nucor were worth $2,823,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in NUE. GPS Wealth Strategies Group LLC lifted its holdings in shares of Nucor by 4.1% during the second quarter. GPS Wealth Strategies Group LLC now owns 1,630 shares of the basic materials company’s stock worth $258,000 after purchasing an additional 64 shares during the period. Aptus Capital Advisors LLC grew its position in shares of Nucor by 2.1% in the 2nd quarter. Aptus Capital Advisors LLC now owns 3,457 shares of the basic materials company’s stock valued at $546,000 after buying an additional 71 shares during the last quarter. Brighton Jones LLC increased its stake in shares of Nucor by 3.3% in the second quarter. Brighton Jones LLC now owns 2,218 shares of the basic materials company’s stock valued at $351,000 after buying an additional 71 shares during the period. Salomon & Ludwin LLC raised its position in shares of Nucor by 45.6% during the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 72 shares during the last quarter. Finally, First Trust Direct Indexing L.P. lifted its stake in shares of Nucor by 1.4% in the third quarter. First Trust Direct Indexing L.P. now owns 5,467 shares of the basic materials company’s stock worth $822,000 after acquiring an additional 74 shares during the period. 76.48% of the stock is owned by institutional investors.

Nucor Price Performance

NUE stock opened at $149.99 on Friday. 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 company’s 50-day moving average is $149.51 and its 200-day moving average is $154.33. The stock has a market capitalization of $35.22 billion, a PE ratio of 14.49 and a beta of 1.55. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (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 business had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.28 billion. During the same quarter in the prior year, the company earned $4.57 earnings per share. The company’s quarterly revenue was down 15.2% on a year-over-year basis. Equities research analysts expect that Nucor Co. will post 8.52 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed 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. This represents a $2.16 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Friday, September 27th. Nucor’s dividend payout ratio is currently 20.87%.

Analyst Ratings Changes

Several research analysts have issued reports 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. Morgan Stanley lowered their target price on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. decreased 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. Finally, Argus raised Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Three research 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $190.57.

Insider Activity

In other Nucor news, CFO Stephen D. Laxton sold 4,712 shares of Nucor stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total transaction of $798,825.36. Following the transaction, the chief financial officer now directly owns 82,132 shares of the company’s stock, valued at $13,923,837.96. The trade was a 5.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Leon J. Topalian sold 11,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the completion of the sale, the chief executive officer now owns 172,136 shares of the company’s stock, valued at approximately $29,109,918.96. This represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,680 shares of company stock worth $4,773,724 over the last 90 days. 0.46% of the stock is currently owned by corporate 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.