Nucor Co. (NYSE:NUE) Stock Position Decreased by Glenmede Trust Co. NA

Glenmede Trust Co. NA reduced its stake in Nucor Co. (NYSE:NUE) by 1.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,288 shares of the basic materials company’s stock after selling 535 shares during the period. Glenmede Trust Co. NA’s holdings in Nucor were worth $8,312,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. McClarren Financial Advisors Inc. grew its holdings in Nucor by 129.0% in 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 in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Nucor during the third quarter valued at about $26,000. Coastline Trust Co bought a new stake in shares of Nucor during the third quarter valued at about $29,000. Brown Lisle Cummings Inc. bought a new position in Nucor in the 3rd quarter valued at about $30,000. Finally, HHM Wealth Advisors LLC increased its stake in Nucor by 769.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock valued at $36,000 after buying an additional 200 shares during the period. 76.48% of the stock is owned by institutional investors.

Insider Activity at Nucor

In other news, CEO Leon J. Topalian sold 11,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were 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 directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Allen C. Behr sold 4,968 shares of Nucor 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 sale, the executive vice president now directly owns 85,376 shares of the company’s stock, valued at approximately $13,636,254.72. The trade was a 5.50 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,680 shares of company stock valued at $4,773,724. Company insiders own 0.46% of the company’s stock.

Nucor Stock Down 0.1 %

Shares of Nucor stock opened at $154.69 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. Nucor Co. has a 12-month low of $133.42 and a 12-month high of $203.00. The firm has a market capitalization of $36.32 billion, a PE ratio of 14.95 and a beta of 1.55. The stock’s fifty day moving average is $150.64 and its 200-day moving average is $153.55.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.09. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The business had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.28 billion. During the same quarter in the previous year, the business earned $4.57 earnings per share. The firm’s revenue was down 15.2% compared to the same quarter last year. Equities analysts anticipate 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. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.40%. Nucor’s dividend payout ratio is 20.87%.

Analyst Ratings Changes

NUE has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. BMO Capital Markets decreased their price target 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. Morgan Stanley dropped their price objective on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock 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 equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently 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.