Avior Wealth Management LLC Sells 96 Shares of Nucor Co. (NYSE:NUE)

Avior Wealth Management LLC lessened its position in shares of Nucor Co. (NYSE:NUE) by 5.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,592 shares of the basic materials company’s stock after selling 96 shares during the period. Avior Wealth Management LLC’s holdings in Nucor were worth $239,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. McClarren Financial Advisors Inc. raised its position 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 worth $25,000 after acquiring an additional 89 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in Nucor during the third quarter worth approximately $26,000. Coastline Trust Co bought a new stake in Nucor in the third quarter worth approximately $29,000. Brown Lisle Cummings Inc. acquired a new position in Nucor in the third quarter valued at approximately $30,000. Finally, Salomon & Ludwin LLC boosted its holdings in shares of Nucor by 45.6% during the 3rd 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. Institutional investors and hedge funds own 76.48% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. BMO Capital Markets decreased their price target on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday, September 18th. JPMorgan Chase & Co. cut their price objective 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. Finally, Argus raised Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $190.57.

Insider Activity

In related news, CEO Leon J. Topalian sold 11,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total value of $1,860,210.00. Following the completion of the transaction, the chief executive officer now directly owns 172,136 shares in the company, valued at approximately $29,109,918.96. The trade was a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Allen C. Behr sold 4,968 shares of the firm’s stock in a transaction dated 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. The trade was a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,680 shares of company stock worth $4,773,724 in the last three months. Corporate insiders own 0.46% of the company’s stock.

Nucor Stock Performance

NYSE:NUE opened at $151.90 on Friday. 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 has a market capitalization of $35.67 billion, a P/E ratio of 14.68 and a beta of 1.55. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00. The business has a fifty day simple moving average of $149.67 and a two-hundred day simple moving average of $154.20.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.40 by $0.09. The company 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%. Nucor’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same period last year, the firm earned $4.57 EPS. On average, analysts expect that Nucor Co. will post 8.52 earnings per share for the current year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were paid a dividend of $0.54 per share. The ex-dividend date was Friday, September 27th. This represents a $2.16 annualized dividend and a yield of 1.42%. Nucor’s dividend payout ratio is currently 20.87%.

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.