Metis Global Partners LLC Has $3.24 Million Stock Position in Nucor Co. (NYSE:NUE)

Metis Global Partners LLC increased its stake in Nucor Co. (NYSE:NUE) by 21.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 21,554 shares of the basic materials company’s stock after purchasing an additional 3,737 shares during the quarter. Metis Global Partners LLC’s holdings in Nucor were worth $3,240,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. McClarren Financial Advisors Inc. lifted its stake in Nucor by 129.0% in the second 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 stake in shares of Nucor in the 3rd quarter valued at about $26,000. Brown Lisle Cummings Inc. acquired a new stake in Nucor in the 3rd quarter valued at about $30,000. Salomon & Ludwin LLC increased its position in Nucor by 45.6% during the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after buying an additional 72 shares during the last quarter. Finally, HHM Wealth Advisors LLC raised its stake in Nucor by 769.2% in the second quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock valued at $36,000 after buying an additional 200 shares during the period. 76.48% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NUE. BMO Capital Markets dropped their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 18th. 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 report on Wednesday, October 23rd. Argus upgraded Nucor to a “strong-buy” rating in a report on Monday, August 26th. Finally, JPMorgan Chase & Co. dropped their price target on Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $190.57.

Insider Activity at Nucor

In other news, CEO Leon J. Topalian sold 11,000 shares of the company’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 completion of the sale, the chief executive officer now owns 172,136 shares of the company’s stock, valued at approximately $29,109,918.96. This represents a 6.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Allen C. Behr sold 4,968 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $159.72, for a total value of $793,488.96. Following the transaction, the executive vice president now owns 85,376 shares in the company, valued at approximately $13,636,254.72. The trade was a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,680 shares of company stock valued at $4,773,724. 0.46% of the stock is owned by insiders.

Nucor Stock Performance

NYSE:NUE opened at $146.38 on Friday. 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 market cap of $34.37 billion, a price-to-earnings ratio of 14.14 and a beta of 1.55. The stock has a fifty day moving average price of $148.58 and a 200-day moving average price of $155.22. 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 quarterly earnings data 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 for the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. Nucor’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same quarter last year, the business posted $4.57 EPS. As a group, equities analysts anticipate that Nucor Co. will post 8.52 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, September 27th were issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date was Friday, September 27th. Nucor’s dividend payout ratio is 20.87%.

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.