CX Institutional Sells 4,371 Shares of Nucor Co. (NYSE:NUE)

CX Institutional decreased its position in Nucor Co. (NYSE:NUE) by 25.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,874 shares of the basic materials company’s stock after selling 4,371 shares during the quarter. CX Institutional’s holdings in Nucor were worth $1,935,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NUE. Pacer Advisors Inc. raised its position 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 purchasing an additional 660,866 shares during the period. Global Assets Advisory LLC bought a new position in shares of Nucor in the first quarter valued at approximately $90,216,000. Swedbank AB bought a new position in shares of Nucor in the first quarter valued at approximately $37,395,000. Captrust Financial Advisors raised its position in shares of Nucor by 23.5% in the first quarter. Captrust Financial Advisors now owns 804,150 shares of the basic materials company’s stock valued at $159,141,000 after purchasing an additional 153,077 shares during the period. Finally, Trinity Street Asset Management LLP bought a new position in shares of Nucor in the second quarter valued at approximately $19,213,000. Institutional investors own 76.48% of the company’s stock.

Insider Activity

In other news, EVP Daniel R. Needham sold 8,624 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total value of $1,379,840.00. Following the sale, the executive vice president now owns 99,049 shares in the company, valued at approximately $15,847,840. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.46% of the stock is owned by corporate insiders.

Nucor Stock Down 0.8 %

NUE opened at $151.62 on Wednesday. Nucor Co. has a fifty-two week low of $133.42 and a fifty-two week high of $203.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85. The firm’s fifty day moving average price is $146.75 and its two-hundred day moving average price is $161.11. The company has a market capitalization of $36.35 billion, a P/E ratio of 8.92 and a beta of 1.55.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.37. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The firm had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $7.69 billion. During the same quarter in the previous year, the company earned $5.81 earnings per share. The business’s revenue was down 15.2% compared to the same quarter last year. On average, analysts anticipate that Nucor Co. will post 9.1 EPS for the current year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be paid a $0.54 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.42%. Nucor’s dividend payout ratio is presently 12.71%.

Analyst Ratings Changes

NUE has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their target price on shares of Nucor from $174.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. BMO Capital Markets dropped their target price 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. Morgan Stanley dropped their target price on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. Bank of America dropped their target price on shares of Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Finally, Argus raised shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Three 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 company. Based on data from MarketBeat.com, Nucor presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.43.

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.