Nucor Co. (NYSE:NUE) Shares Sold by Douglass Winthrop Advisors LLC

Douglass Winthrop Advisors LLC cut its holdings in Nucor Co. (NYSE:NUE) by 25.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,114 shares of the basic materials company’s stock after selling 706 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in Nucor were worth $318,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. National Pension Service boosted its stake in Nucor by 3.2% in the 3rd quarter. National Pension Service now owns 652,502 shares of the basic materials company’s stock worth $98,097,000 after purchasing an additional 20,258 shares in the last quarter. CX Institutional lifted its stake in shares of Nucor by 52.8% during the second quarter. CX Institutional now owns 17,245 shares of the basic materials company’s stock worth $2,726,000 after buying an additional 5,960 shares during the period. BIP Wealth LLC purchased a new stake in shares of Nucor during the third quarter valued at $681,000. Ascension Asset Management LLC acquired a new position in shares of Nucor in the 2nd quarter valued at $885,000. Finally, Kimelman & Baird LLC purchased a new position in Nucor in the 2nd quarter worth $6,655,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Stock Performance

NUE opened at $153.44 on Tuesday. The firm has a fifty day moving average price of $149.88 and a 200 day moving average price of $153.81. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00. The stock has a market cap of $36.03 billion, a P/E 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.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share 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 the consensus estimate of $7.28 billion. During the same quarter in the prior year, the firm posted $4.57 earnings per share. The company’s revenue was down 15.2% compared to the same quarter last year. Equities research analysts anticipate that Nucor Co. will post 8.52 earnings per share for the current year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, September 27th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.41%. The ex-dividend date was Friday, September 27th. Nucor’s payout ratio is currently 20.87%.

Wall Street Analyst Weigh In

NUE has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their price target on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Argus upgraded shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. Morgan Stanley decreased their price objective 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. 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 report on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.57.

Insider Activity

In other news, CEO Leon J. Topalian sold 11,000 shares of the business’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 completion of the sale, the chief executive officer now owns 172,136 shares of the company’s stock, valued at $29,109,918.96. The trade was 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 at this link. Also, EVP Allen C. Behr sold 4,968 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $159.72, for a total transaction of $793,488.96. Following the completion of the transaction, the executive vice president now directly owns 85,376 shares in the company, valued at $13,636,254.72. This represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,680 shares of company stock worth $4,773,724 over the last three months. 0.64% of the stock is currently owned by corporate insiders.

About Nucor

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.