McBroom & Associates LLC Sells 345 Shares of Nucor Co. (NYSE:NUE)

McBroom & Associates LLC trimmed its position in shares of Nucor Co. (NYSE:NUE) by 1.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 28,045 shares of the basic materials company’s stock after selling 345 shares during the period. Nucor makes up approximately 2.6% of McBroom & Associates LLC’s holdings, making the stock its 18th largest holding. McBroom & Associates LLC’s holdings in Nucor were worth $4,216,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NUE. McClarren Financial Advisors Inc. lifted its stake in shares of Nucor by 129.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 89 shares during the period. Chilton Capital Management LLC boosted its holdings in shares of Nucor by 94.2% during the 1st quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after buying an additional 65 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Nucor in the 1st quarter worth about $28,000. Salomon & Ludwin LLC bought a new position in shares of Nucor in the 1st quarter worth about $31,000. Finally, HHM Wealth Advisors LLC lifted its position in Nucor by 769.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Nucor from $174.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Morgan Stanley dropped their price target on Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. Bank of America reduced their price objective on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. Argus raised Nucor to a “strong-buy” rating in a report on Monday, August 26th. Finally, BMO Capital Markets cut their target price 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. 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’s stock. Based on data from MarketBeat, Nucor presently has an average rating of “Moderate Buy” and an average target price of $191.43.

Insider Activity at Nucor

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of Nucor stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total value of $1,379,840.00. Following the completion of the sale, the executive vice president now owns 99,049 shares of the company’s stock, valued at approximately $15,847,840. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.46% of the stock is owned by insiders.

Nucor Stock Performance

Shares of NUE opened at $158.24 on Friday. The company has a market cap of $37.94 billion, a price-to-earnings ratio of 9.31 and a beta of 1.55. The business’s fifty day simple moving average is $147.44 and its two-hundred day simple moving average is $160.49. Nucor Co. has a 12 month low of $133.42 and a 12 month high of $203.00. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, beating the consensus estimate of $2.31 by $0.37. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The company had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $7.69 billion. During the same period last year, the firm posted $5.81 earnings per share. Nucor’s revenue was down 15.2% compared to the same quarter last year. Research analysts anticipate that Nucor Co. will post 9.08 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, September 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.37%. Nucor’s payout ratio is 12.71%.

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.