CGN Advisors LLC Sells 2,343 Shares of Nucor Co. (NYSE:NUE)

CGN Advisors LLC trimmed its stake in Nucor Co. (NYSE:NUE) by 15.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,738 shares of the basic materials company’s stock after selling 2,343 shares during the period. CGN Advisors LLC’s holdings in Nucor were worth $1,487,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in NUE. Ashton Thomas Securities LLC bought a new stake in Nucor in the third quarter valued at about $26,000. Coastline Trust Co acquired a new position in Nucor during the third quarter worth $29,000. Brown Lisle Cummings Inc. bought a new position in shares of Nucor during the third quarter valued at $30,000. Salomon & Ludwin LLC boosted its stake in shares of 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 in the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Nucor by 60.3% in the 4th quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 114 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group cut their target price on shares of Nucor from $150.00 to $125.00 and set a “hold” rating for the company in a research note on Monday, January 6th. UBS Group reiterated a “neutral” rating and issued a $156.00 price objective (down from $171.00) on shares of Nucor in a research report on Thursday, December 12th. Morgan Stanley reduced their target price on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their target price on shares of Nucor from $168.00 to $152.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Citigroup cut their price target on shares of Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Four equities research 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $163.63.

Insider Activity

In related news, EVP Allen C. Behr sold 4,968 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $159.72, for a total value of $793,488.96. Following the completion of the sale, the executive vice president now directly owns 85,376 shares of the company’s stock, valued at $13,636,254.72. The trade was a 5.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kenneth Rex Query sold 9,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 98,770 shares in the company, valued at approximately $14,499,436. The trade was a 8.35 % decrease in their position. 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. Insiders own 0.64% of the company’s stock.

Nucor Stock Performance

NYSE NUE opened at $124.40 on Friday. The firm has a 50-day moving average price of $133.52 and a two-hundred day moving average price of $144.57. Nucor Co. has a 12-month low of $112.25 and a 12-month high of $203.00. The company has a market capitalization of $29.21 billion, a P/E ratio of 12.02 and a beta of 1.60. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26.

Nucor (NYSE:NUE) last released its earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.40 by $0.09. The firm had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The business’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same period last year, the firm earned $4.57 EPS. Analysts anticipate that Nucor Co. will post 8.19 earnings per share for the current year.

Nucor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.55 per share. The ex-dividend date is Tuesday, December 31st. This is a positive change from Nucor’s previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a dividend yield of 1.77%. Nucor’s payout ratio is 21.26%.

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.