BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $6.02 Million Position in Nucor Co. (NYSE:NUE)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its stake in Nucor Co. (NYSE:NUE) by 13.2% in the third quarter, HoldingsChannel reports. The firm owned 40,008 shares of the basic materials company’s stock after selling 6,106 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Nucor were worth $6,015,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. McClarren Financial Advisors Inc. increased its position in Nucor by 129.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after buying an additional 89 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Nucor during the third quarter worth approximately $26,000. Coastline Trust Co bought a new position in shares of Nucor in the 3rd quarter worth $29,000. Brown Lisle Cummings Inc. acquired a new stake in Nucor in the 3rd quarter valued at $30,000. Finally, Salomon & Ludwin LLC increased 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 purchasing an additional 72 shares in the last quarter. 76.48% of the stock is owned by institutional investors.

Insider Buying and Selling at Nucor

In other Nucor news, CEO Leon J. Topalian sold 11,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the sale, the chief executive officer now directly owns 172,136 shares of the company’s stock, valued at $29,109,918.96. This represents a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Stephen D. Laxton sold 4,712 shares of Nucor stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total transaction 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. The trade was a 5.43 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,680 shares of company stock valued at $4,773,724. Company insiders own 0.46% of the company’s stock.

Nucor Stock Up 1.1 %

Shares of NYSE:NUE opened at $156.37 on Tuesday. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00. The company has a market capitalization of $36.72 billion, a PE ratio of 15.11 and a beta of 1.55. The business has a fifty day moving average price of $150.83 and a two-hundred day moving average price of $153.14. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61.

Nucor (NYSE:NUE) last posted 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 company had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The firm’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.57 earnings per share. Analysts forecast that Nucor Co. will post 8.5 earnings per share for the current year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were paid a $0.54 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.16 annualized dividend and a yield of 1.38%. Nucor’s payout ratio is 20.87%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on NUE shares. Argus upgraded shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. BMO Capital Markets cut their price target 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. The Goldman Sachs Group assumed coverage on Nucor in a research note on Monday. They issued a “buy” rating and a $190.00 price objective for the company. Morgan Stanley cut their target price on 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. lowered their price target on Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $190.50.

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.