J.W. Cole Advisors Inc. Cuts Position in Nucor Co. (NYSE:NUE)

J.W. Cole Advisors Inc. lowered its position in Nucor Co. (NYSE:NUE) by 4.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,054 shares of the basic materials company’s stock after selling 105 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Nucor were worth $309,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale raised its holdings in shares of Nucor by 11.2% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 130,143 shares of the basic materials company’s stock valued at $19,317,000 after purchasing an additional 13,068 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Nucor by 0.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 61,023 shares of the basic materials company’s stock valued at $9,174,000 after buying an additional 257 shares during the last quarter. Arkadios Wealth Advisors raised its stake in Nucor by 11.9% in the third quarter. Arkadios Wealth Advisors now owns 2,912 shares of the basic materials company’s stock valued at $438,000 after buying an additional 310 shares in the last quarter. Forsta AP Fonden lifted its holdings in Nucor by 31.2% during the 3rd quarter. Forsta AP Fonden now owns 92,200 shares of the basic materials company’s stock worth $13,861,000 after buying an additional 21,900 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Nucor by 18.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,555 shares of the basic materials company’s stock worth $2,936,000 after acquiring an additional 3,093 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Price Performance

NUE stock opened at $141.80 on Friday. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $33.65 billion, a P/E ratio of 13.70 and a beta of 1.55. The business has a 50 day simple moving average of $147.64 and a 200-day simple moving average of $157.39. Nucor Co. has a twelve month low of $133.42 and a twelve month high of $203.00.

Nucor (NYSE:NUE) last issued 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 company had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.28 billion. During the same period last year, the firm posted $4.57 EPS. Nucor’s revenue for the quarter was down 15.2% on a year-over-year basis. As a group, equities analysts anticipate that Nucor Co. will post 8.65 EPS for the current year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Friday, September 27th. Nucor’s dividend payout ratio is presently 20.87%.

Analyst Ratings Changes

Several brokerages have recently weighed in on NUE. JPMorgan Chase & Co. cut their target price on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research 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 reduced 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. Finally, Morgan Stanley dropped their target price on shares of Nucor from $170.00 to $166.00 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 given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $190.57.

Insiders Place Their Bets

In other news, EVP Kenneth Rex Query sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was 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 owns 98,770 shares in the company, valued at $14,499,436. This 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 available through this link. 0.46% of the stock is owned by insiders.

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.