Nucor Co. (NYSE:NUE) Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its holdings in shares of Nucor Co. (NYSE:NUE) by 5.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 236,141 shares of the basic materials company’s stock after selling 12,942 shares during the period. Bank of Montreal Can’s holdings in Nucor were worth $35,452,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in NUE. 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 buying an additional 89 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of Nucor during the 3rd quarter worth approximately $26,000. Coastline Trust Co acquired a new position in shares of Nucor during the 3rd quarter worth approximately $29,000. Brown Lisle Cummings Inc. acquired a new position in Nucor in the 3rd quarter valued at $30,000. Finally, Salomon & Ludwin LLC raised its stake in Nucor by 45.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 72 shares during the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Nucor

In other news, EVP Allen C. Behr sold 4,968 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $159.72, for a total transaction of $793,488.96. Following the completion of the transaction, the executive vice president now directly owns 85,376 shares in the company, valued at approximately $13,636,254.72. This represents a 5.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Leon J. Topalian sold 11,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total value of $1,860,210.00. Following the transaction, the chief executive officer now owns 172,136 shares of the company’s stock, valued at approximately $29,109,918.96. This represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,680 shares of company stock worth $4,773,724. 0.64% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

NUE has been the subject of several recent research reports. Morgan Stanley reduced their price objective on 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 reduced their price objective on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday, September 18th. Argus raised Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Finally, JPMorgan Chase & Co. reduced their price objective on Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $190.57.

Nucor Stock Up 0.5 %

Shares of NYSE:NUE opened at $154.77 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. The business has a fifty day moving average of $150.47 and a two-hundred day moving average of $153.69. The stock has a market cap of $36.34 billion, a P/E ratio of 14.95 and a beta of 1.55. Nucor Co. has a 52-week low of $133.42 and a 52-week high of $203.00.

Nucor (NYSE:NUE) last issued its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.09. The company had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The firm’s quarterly revenue was down 15.2% on a year-over-year basis. During the same period in the prior year, the business earned $4.57 EPS. On average, research analysts expect that Nucor Co. will post 8.5 earnings per share for the current year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Friday, September 27th. Nucor’s dividend payout ratio is presently 20.87%.

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.