Nucor Corporation $NUE Holdings Decreased by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC trimmed its holdings in Nucor Corporation (NYSE:NUE) by 7.7% in the 3rd quarter, Holdings Channel reports. The fund owned 214,725 shares of the basic materials company’s stock after selling 17,922 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Nucor were worth $50,192,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Nucor during the second quarter worth about $4,452,563,000. Bank of America Corp DE purchased a new position in shares of Nucor during the second quarter valued at approximately $462,886,000. Berkshire Hathaway Inc bought a new stake in shares of Nucor in the 2nd quarter worth approximately $413,814,000. Bank of New York Mellon Corp bought a new stake in shares of Nucor in the 2nd quarter worth approximately $330,902,000. Finally, Legal & General Group Plc purchased a new stake in shares of Nucor in the 2nd quarter worth approximately $324,154,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Thomas J. Batterbee sold 4,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $261.02, for a total value of $1,044,080.00. Following the transaction, the executive vice president owned 16,138 shares in the company, valued at $4,212,340.76. This represents a 19.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Stephen D. Laxton sold 3,968 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the sale, the chief operating officer owned 77,867 shares of the company’s stock, valued at $20,008,704.32. This trade represents a 4.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.62% of the company’s stock.

Nucor Stock Performance

NUE stock traded up $5.71 on Friday, hitting $251.85. The company had a trading volume of 320,449 shares, compared to its average volume of 1,551,578. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. Nucor Corporation has a 12-month low of $131.32 and a 12-month high of $280.11. The stock has a market cap of $57.14 billion, a price-to-earnings ratio of 20.05, a P/E/G ratio of 0.87 and a beta of 1.84. The stock’s 50-day simple moving average is $255.46 and its 200 day simple moving average is $234.72.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share for the quarter, beating the consensus estimate of $4.46 by $0.38. The firm had revenue of $10.40 billion for the quarter, compared to analysts’ expectations of $10.15 billion. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The company’s revenue was up 23.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.60 EPS. As a group, equities research analysts expect that Nucor Corporation will post 18.89 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 10th. Shareholders of record on Wednesday, September 30th will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Nucor’s dividend payout ratio (DPR) is presently 17.86%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on NUE shares. Citigroup reissued a “buy” rating on shares of Nucor in a report on Wednesday, July 29th. Freedom Broker downgraded shares of Nucor from a “buy” rating to a “hold” rating and cut their price objective for the company from $305.00 to $285.00 in a research report on Friday, September 18th. UBS Group lifted their target price on shares of Nucor from $224.00 to $256.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. JPMorgan Chase & Co. increased their price target on shares of Nucor from $294.00 to $308.00 and gave the company an “overweight” rating in a report on Wednesday, September 9th. Finally, Wells Fargo & Company reduced their price target on shares of Nucor from $285.00 to $280.00 and set an “overweight” rating for the company in a research report on Friday, September 18th. Thirteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Nucor has a consensus rating of “Moderate Buy” and an average price target of $276.93.

Nucor Company Profile

Nucor Corporation is a Charlotte, North Carolina-based steel producer and one of the largest steel companies in North America. The company operates electric arc furnace (EAF) steel mills that use recycled scrap steel as a primary raw material, along with facilities that manufacture and process steel products for construction, manufacturing, transportation, energy and other industrial markets.

Nucor’s product portfolio includes carbon and alloy steel in sheet, plate, bar and structural forms, as well as reinforcing steel, wire and wire mesh.