Advisors Asset Management Inc. Has $3.27 Million Stock Holdings in Nucor Co. (NYSE:NUE)

Advisors Asset Management Inc. lowered its stake in Nucor Co. (NYSE:NUE) by 9.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 21,750 shares of the basic materials company’s stock after selling 2,224 shares during the period. Advisors Asset Management Inc.’s holdings in Nucor were worth $3,270,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. McClarren Financial Advisors Inc. lifted its holdings in 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 purchasing an additional 89 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in Nucor during the 3rd quarter worth $26,000. Coastline Trust Co acquired a new stake in shares of Nucor during the 3rd quarter worth $29,000. Brown Lisle Cummings Inc. acquired a new position in Nucor in the third quarter valued at about $30,000. Finally, HHM Wealth Advisors LLC raised its stake in Nucor by 769.2% in the second quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 200 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Trading Up 1.3 %

Shares of NUE stock opened at $151.92 on Friday. The firm has a market capitalization of $35.67 billion, a P/E ratio of 14.68 and a beta of 1.55. 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 stock’s fifty day simple moving average is $149.67 and its 200 day simple moving average is $154.07. 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 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 analysts’ expectations of $7.28 billion. During the same quarter in the previous year, the firm posted $4.57 earnings per share. Nucor’s revenue for the quarter was down 15.2% on a year-over-year basis. As a group, sell-side analysts predict that Nucor Co. will post 8.52 EPS for the current fiscal year.

Nucor Dividend Announcement

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

Analyst Ratings Changes

NUE has been the topic of several recent analyst reports. BMO Capital Markets decreased their target price on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday, September 18th. Morgan Stanley decreased their price objective 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. Argus upgraded Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Finally, JPMorgan Chase & Co. decreased their price target on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Three 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $190.57.

Insiders Place Their Bets

In other Nucor news, EVP Allen C. Behr sold 4,968 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were 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 in the company, valued at approximately $13,636,254.72. This trade represents a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $1,321,200.00. Following the transaction, the executive vice president now directly owns 98,770 shares in the company, valued at approximately $14,499,436. This trade represents a 8.35 % 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. Company insiders own 0.46% of the company’s stock.

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.