Douglas Lane & Associates LLC Purchases 18,044 Shares of Nucor Co. (NYSE:NUE)

Douglas Lane & Associates LLC raised its holdings in Nucor Co. (NYSE:NUE) by 22.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 97,568 shares of the basic materials company’s stock after purchasing an additional 18,044 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Nucor were worth $14,668,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. CX Institutional raised its stake in shares of Nucor by 52.8% during the second quarter. CX Institutional now owns 17,245 shares of the basic materials company’s stock worth $2,726,000 after buying an additional 5,960 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its position in shares of Nucor by 94.2% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,855 shares of the basic materials company’s stock worth $323,000 after purchasing an additional 900 shares during the last quarter. Norden Group LLC acquired a new stake in shares of Nucor during the first quarter worth $1,847,000. Banco Santander S.A. lifted its stake in Nucor by 86.2% in the first quarter. Banco Santander S.A. now owns 12,895 shares of the basic materials company’s stock valued at $2,552,000 after buying an additional 5,971 shares during the period. Finally, Ascension Asset Management LLC bought a new position in Nucor during the second quarter worth about $885,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Transactions at Nucor

In other news, EVP Daniel R. Needham sold 8,624 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the sale, the executive vice president now directly owns 99,049 shares in the company, valued at approximately $15,847,840. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on NUE. Bank of America dropped their price target on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Morgan Stanley decreased their price target on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, September 18th. JPMorgan Chase & Co. decreased their target price on shares of Nucor from $174.00 to $170.00 and set an “overweight” rating for the company in a research report on Wednesday. BMO Capital Markets cut their price target 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. 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 assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $191.43.

Nucor Stock Performance

Shares of Nucor stock traded up $1.01 during trading on Friday, reaching $151.91. The company’s stock had a trading volume of 1,594,673 shares, compared to its average volume of 1,464,394. The business’s 50-day moving average price is $146.67 and its 200-day moving average price is $162.01. Nucor Co. has a 52 week low of $133.42 and a 52 week high of $203.00. The firm has a market cap of $36.42 billion, a PE ratio of 8.94 and a beta of 1.55. The company has a quick ratio of 1.85, a current ratio of 2.93 and a debt-to-equity ratio of 0.26.

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

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors 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 dividend on an annualized basis and a yield of 1.42%. Nucor’s dividend payout ratio (DPR) is 12.71%.

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.