Baldwin Investment Management LLC Sells 385 Shares of Nucor Co. (NYSE:NUE)

Baldwin Investment Management LLC lowered its position in Nucor Co. (NYSE:NUE) by 5.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,210 shares of the basic materials company’s stock after selling 385 shares during the quarter. Baldwin Investment Management LLC’s holdings in Nucor were worth $1,084,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. McClarren Financial Advisors Inc. increased its stake in shares of Nucor by 129.0% during the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after buying an additional 89 shares during the period. Ashton Thomas Securities LLC bought a new position in Nucor during the 3rd quarter worth about $26,000. Coastline Trust Co purchased a new position in Nucor during the 3rd quarter valued at about $29,000. Brown Lisle Cummings Inc. bought a new stake in shares of Nucor in the 3rd quarter valued at about $30,000. Finally, HHM Wealth Advisors LLC lifted its position in shares of Nucor by 769.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 200 shares during the period. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Trading Up 0.4 %

Shares of NYSE:NUE opened at $154.04 on Wednesday. The business’s 50-day moving average is $150.12 and its 200 day moving average is $153.67. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00. The firm has a market capitalization of $36.17 billion, a P/E ratio of 14.88 and a beta of 1.55.

Nucor (NYSE:NUE) last posted its quarterly earnings data 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 firm had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The company’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.57 earnings per share. On average, research analysts predict that Nucor Co. will post 8.5 earnings per share for the current fiscal year.

Nucor Announces Dividend

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

Insider Activity

In other news, CEO Leon J. Topalian sold 11,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 172,136 shares in the company, valued at $29,109,918.96. This trade represents a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Stephen D. Laxton sold 4,712 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total value of $798,825.36. Following the completion of the sale, the chief financial officer now owns 82,132 shares in the company, valued at approximately $13,923,837.96. This represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,680 shares of company stock valued at $4,773,724 over the last ninety days. 0.64% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NUE shares. Morgan Stanley cut their price objective on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Argus upgraded Nucor to a “strong-buy” rating in a report on Monday, August 26th. BMO Capital Markets decreased 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. Finally, 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 note on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average 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.