Moors & Cabot Inc. Sells 720 Shares of Nucor Co. (NYSE:NUE)

Moors & Cabot Inc. decreased its holdings in shares of Nucor Co. (NYSE:NUE) by 20.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,856 shares of the basic materials company’s stock after selling 720 shares during the period. Moors & Cabot Inc.’s holdings in Nucor were worth $431,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Commerce Bank increased its stake in shares of Nucor by 4.9% in the 3rd quarter. Commerce Bank now owns 16,344 shares of the basic materials company’s stock valued at $2,457,000 after acquiring an additional 758 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in Nucor in the third quarter valued at $1,980,000. Counterweight Ventures LLC raised its holdings in shares of Nucor by 19.6% during the third quarter. Counterweight Ventures LLC now owns 14,121 shares of the basic materials company’s stock valued at $2,123,000 after purchasing an additional 2,312 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Nucor during the 3rd quarter worth about $1,481,000. Finally, Fifth Third Wealth Advisors LLC grew its stake in shares of Nucor by 12.6% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 4,069 shares of the basic materials company’s stock valued at $612,000 after buying an additional 456 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Activity at Nucor

In other news, CEO Leon J. Topalian sold 11,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 172,136 shares in the company, valued at $29,109,918.96. This trade represents a 6.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Allen C. Behr sold 4,968 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were 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 owns 85,376 shares in the company, 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. 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 Price Performance

Shares of NYSE:NUE opened at $151.92 on Friday. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. The stock has a market cap of $35.67 billion, a PE ratio of 14.68 and a beta of 1.55. The stock’s fifty day simple moving average is $149.67 and its two-hundred day simple moving average is $154.07. Nucor Co. has a 1-year low of $133.42 and a 1-year high of $203.00.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, beating 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 company had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.28 billion. During the same period last year, the firm earned $4.57 earnings per share. The firm’s revenue was down 15.2% on a year-over-year basis. As a group, analysts forecast that Nucor Co. will post 8.52 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Friday, September 27th. Nucor’s dividend payout ratio is presently 20.87%.

Analyst Upgrades and Downgrades

NUE has been the topic of several recent research reports. Morgan Stanley cut their price target on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. cut their target price on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a report 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 dropped their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $190.57.

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.