Quest Partners LLC Has $160,000 Position in Nucor Co. (NYSE:NUE)

Quest Partners LLC cut its holdings in shares of Nucor Co. (NYSE:NUE) by 9.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,062 shares of the basic materials company’s stock after selling 110 shares during the quarter. Quest Partners LLC’s holdings in Nucor were worth $160,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. boosted its position in Nucor by 5.4% during the first quarter. B. Riley Wealth Advisors Inc. now owns 6,682 shares of the basic materials company’s stock worth $1,322,000 after purchasing an additional 341 shares during the period. Citizens Financial Group Inc. RI grew its position in Nucor by 139.8% during the first quarter. Citizens Financial Group Inc. RI now owns 3,117 shares of the basic materials company’s stock worth $617,000 after buying an additional 1,817 shares in the last quarter. Swedbank AB acquired a new position in Nucor in the first quarter valued at about $37,395,000. Atria Investments Inc lifted its holdings in shares of Nucor by 24.4% during the 1st quarter. Atria Investments Inc now owns 12,945 shares of the basic materials company’s stock worth $2,562,000 after acquiring an additional 2,541 shares during the period. Finally, Cetera Investment Advisers lifted its stake in Nucor by 286.7% during the first quarter. Cetera Investment Advisers now owns 105,922 shares of the basic materials company’s stock worth $20,962,000 after purchasing an additional 78,528 shares during the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NUE shares. BMO Capital Markets decreased their price target 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. JPMorgan Chase & Co. decreased their target price on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Argus upgraded Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Finally, Morgan Stanley reduced their price target on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $190.57.

Insider Activity

In related news, CFO Stephen D. Laxton sold 4,712 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total transaction of $798,825.36. Following the completion of the transaction, the chief financial officer now directly owns 82,132 shares in the company, valued at $13,923,837.96. The trade was a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kenneth Rex Query sold 9,000 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 98,770 shares of the company’s stock, valued at $14,499,436. The trade was a 8.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,680 shares of company stock worth $4,773,724. 0.64% of the stock is owned by corporate insiders.

Nucor Stock Up 0.5 %

NUE opened at $154.77 on Friday. The firm has a market capitalization of $36.34 billion, a P/E ratio of 14.95 and a beta of 1.55. 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’s 50-day moving average is $150.47 and its 200 day moving average is $153.69. Nucor Co. has a fifty-two week low of $133.42 and a fifty-two week high of $203.00.

Nucor (NYSE:NUE) last issued its quarterly earnings results 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 company had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. During the same quarter last year, the business posted $4.57 EPS. Nucor’s quarterly revenue was down 15.2% compared to the same quarter last year. Research analysts expect that Nucor Co. will post 8.5 earnings per share for the current fiscal year.

Nucor Announces Dividend

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

About Nucor

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.