Compass Wealth Management LLC reduced its holdings in shares of Nucor Corporation (NYSE:NUE – Free Report) by 16.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 16,538 shares of the basic materials company’s stock after selling 3,243 shares during the period. Compass Wealth Management LLC’s holdings in Nucor were worth $3,866,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in NUE. NBT Bank N.A. acquired a new position in Nucor during the 3rd quarter worth $1,239,000. Root Financial Partners LLC bought a new stake in shares of Nucor in the 3rd quarter worth about $194,000. Reyes Financial Architecture Inc. bought a new stake in shares of Nucor in the 3rd quarter worth about $32,000. Diligent Investors LLC increased its position in shares of Nucor by 6.1% in the 3rd quarter. Diligent Investors LLC now owns 1,754 shares of the basic materials company’s stock worth $410,000 after purchasing an additional 101 shares during the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. raised its stake in shares of Nucor by 0.5% in the 3rd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 8,091 shares of the basic materials company’s stock valued at $1,891,000 after purchasing an additional 40 shares in the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Nucor
In other news, EVP Thomas J. Batterbee sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the completion of the transaction, the executive vice president directly owned 16,138 shares of the company’s stock, valued at approximately $4,212,340.76. This represents a 19.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Stephen D. Laxton sold 3,968 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $256.96, for a total value of $1,019,617.28. Following the sale, the chief operating officer owned 77,867 shares in the company, valued at $20,008,704.32. The trade was a 4.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.62% of the company’s stock.
Nucor Stock Down 2.6%
Shares of NYSE:NUE opened at $257.57 on Friday. The stock has a market capitalization of $58.44 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 0.65 and a beta of 1.84. Nucor Corporation has a 1-year low of $135.59 and a 1-year high of $280.11. The company’s fifty day moving average is $252.78 and its two-hundred day moving average is $241.05. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51.
Nucor (NYSE:NUE – Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.46 by $0.38. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The company had revenue of $10.40 billion for the quarter, compared to the consensus estimate of $10.15 billion. During the same period last year, the firm posted $2.60 EPS. The company’s revenue for the quarter was up 23.0% on a year-over-year basis. Equities analysts anticipate that Nucor Corporation will post 19.62 EPS for the current year.
Nucor Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 10th. Shareholders of record on Wednesday, September 30th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. Nucor’s dividend payout ratio (DPR) is currently 17.86%.
Analyst Ratings Changes
NUE has been the topic of several research analyst reports. Freedom Broker cut shares of Nucor from a “buy” rating to a “hold” rating and reduced their price target for the stock from $305.00 to $285.00 in a research report on Friday, September 18th. Bank of America lowered their price objective on Nucor from $290.00 to $280.00 and set a “buy” rating for the company in a report on Thursday, July 9th. JPMorgan Chase & Co. cut their price objective on Nucor from $308.00 to $296.00 and set an “overweight” rating on the stock in a research note on Friday, October 9th. KeyCorp reduced their target price on Nucor from $288.00 to $286.00 and set an “overweight” rating on the stock in a report on Monday, October 5th. Finally, UBS Group lifted their target price on Nucor from $224.00 to $256.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Nucor presently has an average rating of “Moderate Buy” and an average target price of $276.86.
Nucor Company Profile
Nucor Corporation is a steel producer headquartered in Charlotte, North Carolina. Through its operating subsidiaries, the company manufactures steel and steel products for customers in construction, automotive, energy, heavy equipment, transportation and other industrial markets.
Nucor’s operations include electric arc furnace steel mills, which produce carbon, alloy and galvanized steel products. Its product portfolio includes sheet steel, plate, beams, bars, wire and wire mesh, steel joists, deck, piling, fabricated concrete reinforcing steel and other downstream products.
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