Patten & Patten Inc. TN Sells 253 Shares of Nucor Co. (NYSE:NUE)

Patten & Patten Inc. TN decreased its position in shares of Nucor Co. (NYSE:NUE) by 11.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,008 shares of the basic materials company’s stock after selling 253 shares during the quarter. Patten & Patten Inc. TN’s holdings in Nucor were worth $302,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of NUE. Dimensional Fund Advisors LP lifted its stake in shares of Nucor by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,909,388 shares of the basic materials company’s stock valued at $617,915,000 after purchasing an additional 84,558 shares during the period. Pacer Advisors Inc. lifted its stake in 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 buying an additional 660,866 shares during the period. Legal & General Group Plc boosted its holdings in shares of Nucor by 3.2% during the 2nd quarter. Legal & General Group Plc now owns 2,160,803 shares of the basic materials company’s stock worth $341,580,000 after buying an additional 67,974 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of Nucor by 11.6% during the 2nd quarter. Hsbc Holdings PLC now owns 1,069,920 shares of the basic materials company’s stock worth $169,433,000 after buying an additional 111,177 shares during the period. Finally, ProShare Advisors LLC increased its stake in shares of Nucor by 2.8% in the 2nd quarter. ProShare Advisors LLC now owns 1,055,632 shares of the basic materials company’s stock valued at $166,874,000 after acquiring an additional 28,384 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Transactions at Nucor

In related news, EVP Kenneth Rex Query sold 9,000 shares of Nucor stock in a transaction on 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 sale, the executive vice president now directly owns 98,770 shares in the company, valued at approximately $14,499,436. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Kenneth Rex Query sold 9,000 shares of the firm’s stock in a transaction dated 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 owns 98,770 shares in the company, valued at approximately $14,499,436. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Leon J. Topalian sold 11,000 shares of Nucor stock in a transaction dated Wednesday, November 6th. The stock was 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 directly owns 172,136 shares in the company, valued at approximately $29,109,918.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,712 shares of company stock worth $3,980,235 in the last 90 days. Insiders own 0.46% of the company’s stock.

Nucor Stock Up 0.1 %

NUE stock opened at $159.06 on Tuesday. The stock’s 50 day moving average is $148.04 and its 200-day moving average is $155.51. Nucor Co. has a twelve month low of $133.42 and a twelve month high of $203.00. The firm has a market capitalization of $37.35 billion, a PE ratio of 15.37 and a beta of 1.55. 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 (NYSE:NUE) last posted its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share (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 for the quarter, compared to the consensus estimate of $7.28 billion. During the same period in the previous year, the firm earned $4.57 EPS. The business’s revenue for the quarter was down 15.2% compared to the same quarter last year. Sell-side analysts expect that Nucor Co. will post 8.6 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, September 27th were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.36%. Nucor’s dividend payout ratio is currently 20.87%.

Analyst Ratings Changes

A number of research firms have commented on NUE. BMO Capital Markets reduced 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 decreased 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 upgraded Nucor to a “strong-buy” rating in a report on Monday, August 26th. Finally, JPMorgan Chase & Co. decreased their price objective on Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Nucor presently has an average rating of “Moderate Buy” and a consensus 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.