Nucor Co. (NYSE:NUE) Shares Sold by Farmers & Merchants Investments Inc.

Farmers & Merchants Investments Inc. lowered its holdings in Nucor Co. (NYSE:NUE) by 1.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,535 shares of the basic materials company’s stock after selling 1,000 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Nucor were worth $11,957,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. McClarren Financial Advisors Inc. lifted its position in Nucor by 129.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 89 shares during the last quarter. Chilton Capital Management LLC raised its stake in shares of Nucor by 94.2% during the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 65 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in Nucor in the first quarter worth about $28,000. Brown Lisle Cummings Inc. bought a new position in Nucor in the 3rd quarter valued at about $30,000. Finally, Salomon & Ludwin LLC bought a new position in Nucor in the 1st quarter valued at about $31,000. 76.48% of the stock is owned by institutional investors.

Nucor Stock Down 1.0 %

Shares of NYSE:NUE traded down $1.48 during midday trading on Tuesday, hitting $146.25. 75,340 shares of the stock were exchanged, compared to its average volume of 1,494,678. The company has a market capitalization of $34.71 billion, a PE ratio of 14.27 and a beta of 1.55. Nucor Co. has a 52-week low of $133.42 and a 52-week high of $203.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59. The business’s fifty day simple moving average is $147.73 and its two-hundred day simple moving average is $157.94.

Nucor (NYSE:NUE) last issued its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.09. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The company had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.28 billion. During the same period in the prior year, the firm posted $4.57 EPS. The business’s revenue was down 15.2% compared to the same quarter last year. As a group, research analysts predict that Nucor Co. will post 8.65 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 annualized dividend and a yield of 1.48%. Nucor’s dividend payout ratio (DPR) is currently 20.87%.

Insiders Place Their Bets

In related news, EVP Daniel R. Needham sold 8,624 shares of Nucor stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total value of $1,379,840.00. Following the transaction, the executive vice president now owns 99,049 shares in the company, valued at $15,847,840. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NUE shares. BMO Capital Markets reduced 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 target price on Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Morgan Stanley decreased their price target on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, Argus raised Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.57.

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.