Simmons Bank Sells 834 Shares of Nucor Co. (NYSE:NUE)

Simmons Bank cut its holdings in shares of Nucor Co. (NYSE:NUE) by 7.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,280 shares of the basic materials company’s stock after selling 834 shares during the period. Simmons Bank’s holdings in Nucor were worth $1,545,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. McClarren Financial Advisors Inc. boosted its holdings in shares of Nucor by 129.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 89 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in Nucor during the third quarter valued at approximately $26,000. Brown Lisle Cummings Inc. purchased a new stake in Nucor in the third quarter worth approximately $30,000. HHM Wealth Advisors LLC grew its position in Nucor by 769.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 200 shares during the period. Finally, Salomon & Ludwin LLC raised its stake in Nucor by 45.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock valued at $35,000 after buying an additional 72 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors.

Nucor Stock Down 1.1 %

NUE stock opened at $152.22 on Thursday. The business’s 50-day moving average price is $148.37 and its 200-day moving average price is $155.24. The stock has a market cap of $35.74 billion, a P/E ratio of 14.71 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 Co. has a twelve month low of $133.42 and a twelve month high of $203.00.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.09. The business had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The company’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.57 earnings per share. On average, equities research analysts forecast that Nucor Co. will post 8.52 EPS for the current year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, September 27th were paid a $0.54 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.42%. Nucor’s payout ratio is presently 20.87%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. dropped their price target on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. BMO Capital Markets dropped their target price on 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 reduced their price target on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, Argus raised shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $190.57.

Insider Buying and Selling at Nucor

In other news, CFO Stephen D. Laxton sold 4,712 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total value of $798,825.36. Following the completion of the transaction, the chief financial officer now owns 82,132 shares of the company’s stock, valued at $13,923,837.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Nucor news, CEO Leon J. Topalian sold 11,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total value of $1,860,210.00. Following the sale, the chief executive officer now owns 172,136 shares in the company, valued at $29,109,918.96. 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 available through the SEC website. Also, CFO Stephen D. Laxton sold 4,712 shares of the stock in a transaction dated 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,680 shares of company stock valued at $4,773,724 over the last ninety days. 0.46% of the stock is currently owned by company insiders.

Nucor Company 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.