Hantz Financial Services Inc. Cuts Stock Holdings in Nucor Co. (NYSE:NUE)

Hantz Financial Services Inc. lessened its position in Nucor Co. (NYSE:NUE) by 94.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 599 shares of the basic materials company’s stock after selling 10,704 shares during the quarter. Hantz Financial Services Inc.’s holdings in Nucor were worth $90,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in NUE. National Pension Service lifted its holdings in Nucor by 3.2% in the 3rd quarter. National Pension Service now owns 652,502 shares of the basic materials company’s stock valued at $98,097,000 after purchasing an additional 20,258 shares in the last quarter. CX Institutional lifted its stake in shares of Nucor by 52.8% in 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 in the last quarter. BIP Wealth LLC acquired a new position in Nucor during the third quarter worth about $681,000. Ascension Asset Management LLC purchased a new stake in Nucor during the 2nd quarter valued at about $885,000. Finally, Kimelman & Baird LLC acquired a new stake in Nucor in the 2nd quarter valued at about $6,655,000. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor Stock Performance

NYSE:NUE opened at $156.37 on Tuesday. The stock has a market capitalization of $36.72 billion, a P/E ratio of 15.11 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59. Nucor Co. has a fifty-two week low of $133.42 and a fifty-two week high of $203.00. The company has a 50 day moving average price of $150.83 and a 200 day moving average price of $153.14.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.40 by $0.09. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The business had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. During the same period last year, the business posted $4.57 earnings per share. The company’s quarterly revenue was down 15.2% on a year-over-year basis. Equities research analysts forecast that Nucor Co. will post 8.5 EPS for the current year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders 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 1.38%. Nucor’s dividend payout ratio is presently 20.87%.

Insider Activity

In other Nucor news, CFO Stephen D. Laxton sold 4,712 shares of the 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 sale, the chief financial officer now owns 82,132 shares of the company’s stock, valued at $13,923,837.96. This trade represents a 5.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kenneth Rex Query sold 9,000 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total value of $1,321,200.00. Following the transaction, the executive vice president now directly owns 98,770 shares of the company’s stock, valued at approximately $14,499,436. This represents a 8.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,680 shares of company stock valued at $4,773,724. 0.46% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on NUE shares. The Goldman Sachs Group assumed coverage on Nucor in a research report on Monday. They issued a “buy” rating and a $190.00 price target for the company. BMO Capital Markets dropped their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. Argus upgraded Nucor to a “strong-buy” rating in a report on Monday, August 26th. Morgan Stanley lowered their price target on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Nucor has a consensus rating of “Moderate Buy” and a consensus target price of $190.50.

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.