Meeder Advisory Services Inc. Reduces Stock Holdings in Nucor Co. (NYSE:NUE)

Meeder Advisory Services Inc. reduced its position in Nucor Co. (NYSE:NUE) by 3.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,989 shares of the basic materials company’s stock after selling 314 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Nucor were worth $1,201,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. McClarren Financial Advisors Inc. grew its position in Nucor by 129.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 89 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Nucor during the third quarter worth $26,000. Coastline Trust Co acquired a new stake in shares of Nucor in the third quarter worth approximately $29,000. Brown Lisle Cummings Inc. purchased a new stake in Nucor during the 3rd quarter valued at about $30,000. Finally, HHM Wealth Advisors LLC increased its stake in shares of Nucor by 769.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 200 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors.

Nucor Trading Up 0.1 %

NYSE NUE opened at $147.25 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61. The company has a market cap of $34.58 billion, a P/E ratio of 14.23 and a beta of 1.55. Nucor Co. has a 12 month low of $133.42 and a 12 month high of $203.00. The company has a 50-day moving average of $148.88 and a 200-day moving average of $154.77.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.40 by $0.09. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The firm had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.28 billion. During the same quarter last year, the firm posted $4.57 earnings per share. Nucor’s revenue for the quarter was down 15.2% compared to the same quarter last year. As a group, equities analysts predict that Nucor Co. will post 8.52 earnings per share for the current year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, September 27th were paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Friday, September 27th. Nucor’s dividend payout ratio is presently 20.87%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Morgan Stanley reduced 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. JPMorgan Chase & Co. cut their price objective on Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. BMO Capital Markets decreased their target price on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 18th. Finally, Argus upgraded shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Three investment 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $190.57.

Insider Transactions at Nucor

In other Nucor news, EVP Kenneth Rex Query sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total value of $1,321,200.00. Following the completion of the transaction, the executive vice president now owns 98,770 shares in the company, valued at $14,499,436. This represents a 8.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephen D. Laxton sold 4,712 shares of Nucor stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total transaction of $798,825.36. Following the sale, the chief financial officer now owns 82,132 shares in the company, valued at $13,923,837.96. This represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,680 shares of company stock valued at $4,773,724 over the last quarter. Company insiders own 0.64% of the company’s stock.

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.