Independent Advisor Alliance Sells 951 Shares of Nucor Co. (NYSE:NUE)

Independent Advisor Alliance trimmed its stake in Nucor Co. (NYSE:NUE) by 6.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,647 shares of the basic materials company’s stock after selling 951 shares during the quarter. Independent Advisor Alliance’s holdings in Nucor were worth $2,202,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Mizuho Securities USA LLC boosted its stake in shares of Nucor by 8,530.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 1,595,179 shares of the basic materials company’s stock worth $239,819,000 after acquiring an additional 1,576,695 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Nucor by 29.7% during the 2nd quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock worth $456,030,000 after acquiring an additional 660,866 shares during the period. Ceredex Value Advisors LLC bought a new position in shares of Nucor during the 3rd quarter worth approximately $74,829,000. International Assets Investment Management LLC boosted its stake in shares of Nucor by 14,525.9% during the 3rd quarter. International Assets Investment Management LLC now owns 326,889 shares of the basic materials company’s stock worth $49,144,000 after acquiring an additional 324,654 shares during the period. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Nucor by 25.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,283,111 shares of the basic materials company’s stock worth $192,902,000 after acquiring an additional 262,493 shares during the period. 76.48% of the stock is currently owned by institutional investors.

Nucor Price Performance

Shares of NYSE NUE opened at $153.44 on Tuesday. The stock has a market capitalization of $36.03 billion, a PE ratio of 14.83 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61. The business has a fifty day moving average price of $149.88 and a two-hundred day moving average price of $153.81. Nucor Co. has a fifty-two week low of $133.42 and a fifty-two week high of $203.00.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.09. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The company had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.28 billion. During the same quarter in the previous year, the firm earned $4.57 EPS. Nucor’s revenue was down 15.2% on a year-over-year basis. As a group, equities analysts predict that Nucor Co. will post 8.52 earnings per share for the current fiscal 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 issued a dividend of $0.54 per share. The ex-dividend date was Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.41%. Nucor’s dividend payout ratio (DPR) is currently 20.87%.

Analysts Set New Price Targets

NUE has been the subject of several research analyst reports. BMO Capital Markets reduced their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday, September 18th. Morgan Stanley reduced their price target on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Argus upgraded Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Finally, JPMorgan Chase & Co. reduced their price target on Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $190.57.

Insider Transactions at Nucor

In other news, CEO Leon J. Topalian sold 11,000 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 172,136 shares of the company’s stock, valued at approximately $29,109,918.96. The trade was a 6.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Allen C. Behr sold 4,968 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $159.72, for a total value of $793,488.96. Following the completion of the transaction, the executive vice president now directly owns 85,376 shares of the company’s stock, valued at approximately $13,636,254.72. The trade was a 5.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,680 shares of company stock valued at $4,773,724. Corporate insiders own 0.64% of the company’s stock.

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.