Nucor Co. (NYSE:NUE) Shares Sold by Sigma Planning Corp

Sigma Planning Corp reduced its holdings in Nucor Co. (NYSE:NUE) by 33.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,301 shares of the basic materials company’s stock after selling 3,635 shares during the period. Sigma Planning Corp’s holdings in Nucor were worth $1,098,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. GPS Wealth Strategies Group LLC boosted its holdings in Nucor by 4.1% during the second quarter. GPS Wealth Strategies Group LLC now owns 1,630 shares of the basic materials company’s stock worth $258,000 after buying an additional 64 shares in the last quarter. Aptus Capital Advisors LLC boosted its holdings in Nucor by 2.1% during the second quarter. Aptus Capital Advisors LLC now owns 3,457 shares of the basic materials company’s stock worth $546,000 after buying an additional 71 shares in the last quarter. Brighton Jones LLC boosted its holdings in Nucor by 3.3% during the second quarter. Brighton Jones LLC now owns 2,218 shares of the basic materials company’s stock worth $351,000 after buying an additional 71 shares in the last quarter. Salomon & Ludwin LLC boosted its holdings in Nucor by 45.6% during the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after buying an additional 72 shares in the last quarter. Finally, First Trust Direct Indexing L.P. boosted its holdings in Nucor by 1.4% during the third quarter. First Trust Direct Indexing L.P. now owns 5,467 shares of the basic materials company’s stock worth $822,000 after buying an additional 74 shares in the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Price Performance

Nucor stock opened at $153.84 on Wednesday. Nucor Co. has a 12-month low of $133.42 and a 12-month high of $203.00. The stock has a market cap of $36.12 billion, a P/E ratio of 14.86 and a beta of 1.55. The company has a 50-day moving average price of $148.18 and a 200 day moving average price of $155.39. 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 released its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $7.28 billion. During the same period last year, the business earned $4.57 earnings per share. Nucor’s revenue was down 15.2% compared to the same quarter last year. Sell-side analysts anticipate that Nucor Co. will post 8.6 earnings per share for the current year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend was Friday, September 27th. Nucor’s payout ratio is currently 20.87%.

Insider Buying and Selling

In related news, CEO Leon J. Topalian sold 11,000 shares of the firm’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 directly owns 172,136 shares in the company, valued at approximately $29,109,918.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Nucor news, EVP Kenneth Rex Query sold 9,000 shares of Nucor stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the completion of the sale, the executive vice president now directly owns 98,770 shares in the company, valued at $14,499,436. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Leon J. Topalian sold 11,000 shares of Nucor 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 sale, the chief executive officer now owns 172,136 shares of the company’s stock, valued at approximately $29,109,918.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,712 shares of company stock worth $3,980,235. Insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Argus raised shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. BMO Capital Markets decreased 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. Finally, Morgan Stanley decreased their price objective on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a 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 data from MarketBeat, Nucor has a consensus rating of “Moderate Buy” and an average price target of $190.57.

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.