Nucor Co. (NYSE:NUE) Shares Sold by FSM Wealth Advisors LLC

FSM Wealth Advisors LLC trimmed its holdings in shares of Nucor Co. (NYSE:NUE) by 23.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,462 shares of the basic materials company’s stock after selling 450 shares during the quarter. FSM Wealth Advisors LLC’s holdings in Nucor were worth $220,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. PDS Planning Inc lifted its stake in Nucor by 8.7% during the 3rd quarter. PDS Planning Inc now owns 1,394 shares of the basic materials company’s stock valued at $210,000 after acquiring an additional 112 shares during the period. Asset Management One Co. Ltd. lifted its stake in shares of Nucor by 5.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 92,671 shares of the basic materials company’s stock valued at $13,932,000 after purchasing an additional 4,699 shares during the period. National Pension Service lifted its stake in shares of 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 during the period. Van ECK Associates Corp lifted its stake in shares of Nucor by 9.1% in the 3rd quarter. Van ECK Associates Corp now owns 218,698 shares of the basic materials company’s stock valued at $30,981,000 after purchasing an additional 18,325 shares during the period. Finally, Conning Inc. lifted its stake in shares of Nucor by 54.3% in the 3rd quarter. Conning Inc. now owns 3,366 shares of the basic materials company’s stock valued at $506,000 after purchasing an additional 1,185 shares during the period. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Stock Performance

NYSE:NUE opened at $144.61 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59. The company has a fifty day moving average of $147.29 and a two-hundred day moving average of $155.87. The stock has a market capitalization of $34.32 billion, a PE ratio of 13.97 and a beta of 1.55. Nucor Co. has a fifty-two week low of $133.42 and a fifty-two week high of $203.00.

Nucor (NYSE:NUE) last released its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.09. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The business had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. During the same quarter in the prior year, the firm earned $4.57 earnings per share. The company’s revenue for the quarter was down 15.2% compared to the same quarter last year. As a group, research analysts forecast that Nucor Co. will post 8.65 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Friday, September 27th. Nucor’s payout ratio is 20.87%.

Insider Transactions at Nucor

In other news, EVP Kenneth Rex Query sold 9,000 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the completion of the sale, the executive vice president now owns 98,770 shares of the company’s stock, valued at $14,499,436. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.64% of the company’s stock.

Analyst Ratings Changes

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

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.