Glen Eagle Advisors LLC Sells 500 Shares of Nucor Co. (NYSE:NUE)

Glen Eagle Advisors LLC decreased its stake in shares of Nucor Co. (NYSE:NUE) by 17.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,330 shares of the basic materials company’s stock after selling 500 shares during the quarter. Glen Eagle Advisors LLC’s holdings in Nucor were worth $350,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp increased its stake in shares of Nucor by 2.9% during the 3rd quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock worth $1,724,117,000 after purchasing an additional 326,181 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Nucor by 2.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,909,388 shares of the basic materials company’s stock valued at $617,915,000 after buying an additional 84,558 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Nucor by 19.8% during the 3rd quarter. Pacer Advisors Inc. now owns 3,456,484 shares of the basic materials company’s stock worth $519,648,000 after acquiring an additional 571,682 shares during the last quarter. Legal & General Group Plc raised its stake in Nucor by 3.2% in the 2nd quarter. Legal & General Group Plc now owns 2,160,803 shares of the basic materials company’s stock valued at $341,580,000 after acquiring an additional 67,974 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Nucor by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,612,216 shares of the basic materials company’s stock valued at $242,381,000 after purchasing an additional 45,467 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. BMO Capital Markets cut their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research report on Wednesday, September 18th. Morgan Stanley decreased their price objective on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. The Goldman Sachs Group initiated coverage on Nucor in a report on Monday, December 2nd. They set a “buy” rating and a $190.00 target price for the company. Argus upgraded shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Nucor has an average rating of “Moderate Buy” and a consensus target price of $190.50.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Allen C. Behr sold 4,968 shares of the firm’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 sale, the executive vice president now owns 85,376 shares in the company, valued at $13,636,254.72. This trade represents a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Stephen D. Laxton sold 4,712 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total transaction of $798,825.36. Following the transaction, the chief financial officer now owns 82,132 shares of the company’s stock, valued at $13,923,837.96. This trade represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,680 shares of company stock worth $4,773,724 over the last 90 days. Insiders own 0.46% of the company’s stock.

Nucor Price Performance

NUE stock opened at $142.57 on Friday. The company’s 50-day moving average price is $150.67 and its two-hundred day moving average price is $152.61. Nucor Co. has a 12 month low of $133.42 and a 12 month high of $203.00. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. The firm has a market cap of $33.48 billion, a P/E ratio of 13.77 and a beta of 1.55.

Nucor (NYSE:NUE) last announced its quarterly earnings data 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. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The company’s revenue was down 15.2% on a year-over-year basis. During the same period in the previous year, the business earned $4.57 earnings per share. On average, analysts anticipate that Nucor Co. will post 8.5 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.52%. The ex-dividend date was Friday, September 27th. Nucor’s dividend payout ratio (DPR) is presently 20.87%.

Nucor 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.