Janney Montgomery Scott LLC Sells 38,793 Shares of Nucor Co. (NYSE:NUE)

Janney Montgomery Scott LLC trimmed its holdings in shares of Nucor Co. (NYSE:NUE) by 23.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 128,538 shares of the basic materials company’s stock after selling 38,793 shares during the quarter. Janney Montgomery Scott LLC owned 0.05% of Nucor worth $19,324,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. McClarren Financial Advisors Inc. raised its stake in shares of 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 period. Chilton Capital Management LLC boosted its stake in Nucor by 94.2% in the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 65 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in shares of Nucor during the 1st quarter valued at approximately $28,000. Brown Lisle Cummings Inc. purchased a new stake in shares of Nucor during the 3rd quarter worth approximately $30,000. Finally, Salomon & Ludwin LLC raised its holdings in shares of Nucor by 45.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 72 shares during the period. 76.48% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Kenneth Rex Query sold 9,000 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the transaction, the executive vice president now owns 98,770 shares of the company’s stock, valued at $14,499,436. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.64% of the company’s stock.

Nucor Price Performance

NUE stock opened at $144.61 on Wednesday. The firm has a 50 day moving average of $147.29 and a 200-day moving average of $155.87. The firm has a market capitalization of $34.32 billion, a P/E ratio of 13.97 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 current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26.

Nucor (NYSE:NUE) last announced 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. The firm 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 business’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same period last year, the firm earned $4.57 EPS. As a group, sell-side analysts predict that Nucor Co. will post 8.65 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be issued a $0.54 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.49%. Nucor’s payout ratio is currently 20.87%.

Analyst Upgrades and Downgrades

NUE has been the topic of several research reports. Argus upgraded Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Morgan Stanley lowered their price objective on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. BMO Capital Markets cut their target price 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. Finally, JPMorgan Chase & Co. lowered their price target on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Nucor currently has a consensus rating of “Moderate Buy” and a consensus 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.