Nucor Corporation $NUE Shares Sold by Lido Advisors LLC

Lido Advisors LLC lowered its stake in shares of Nucor Corporation (NYSE:NUE) by 30.7% during the third quarter, Holdings Channel reports. The fund owned 8,639 shares of the basic materials company’s stock after selling 3,830 shares during the quarter. Lido Advisors LLC’s holdings in Nucor were worth $2,020,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Csenge Advisory Group purchased a new position in shares of Nucor during the third quarter valued at approximately $237,000. 71 West Capital Partners boosted its position in Nucor by 2.8% during the third quarter. 71 West Capital Partners now owns 5,847 shares of the basic materials company’s stock worth $1,367,000 after acquiring an additional 160 shares during the last quarter. Montis Financial LLC purchased a new stake in Nucor in the 3rd quarter worth approximately $206,000. Gryphon Financial Partners LLC purchased a new stake in Nucor in the 3rd quarter worth approximately $209,000. Finally, Fulcrum Asset Management LLP grew its stake in Nucor by 10,885.7% in the 3rd quarter. Fulcrum Asset Management LLP now owns 1,538 shares of the basic materials company’s stock worth $363,000 after acquiring an additional 1,524 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Transactions at Nucor

In other Nucor news, EVP Noah C. Hanners sold 5,190 shares of the stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $275.03, for a total value of $1,427,405.70. Following the sale, the executive vice president directly owned 44,073 shares of the company’s stock, valued at $12,121,397.19. This trade represents a 10.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael D. Keller sold 1,136 shares of the business’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $279.33, for a total value of $317,318.88. Following the transaction, the insider owned 15,588 shares of the company’s stock, valued at $4,354,196.04. This trade represents a 6.79% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 28,732 shares of company stock valued at $7,881,287. 0.62% of the stock is currently owned by insiders.

Recent Nucor Headlines

Here are a few of the latest headlines about NUE:

• Positive Sentiment: Nucor’s third-quarter results benefited from record steel-mills shipments, higher selling prices and increased volumes. Its reported sales were $11.25 billion, and management expects fourth-quarter earnings to be generally in line with or modestly above Q3. Nucor’s Steel Mills Shipments Climb: Can Margins Hold in Q4?
• Neutral Sentiment: The stock’s strong run—about 82% over the past year—may have left it vulnerable to profit-taking. Articles also cite capacity expansions and acquisitions as longer-term growth supports. NUE Surges 82% in a Year
• Negative Sentiment: Recent insider selling may have added to caution. The report says Nucor insiders made 23 open-market sales and no purchases over the past six months; such activity can weigh on sentiment but does not by itself establish a change in company prospects. Nucor Slides as Investors Appear to Take Profits After Rally

Nucor Stock Down 3.3%

Shares of NYSE:NUE traded down $8.71 during mid-day trading on Friday, hitting $252.04. 864,740 shares of the company traded hands, compared to its average volume of 1,591,853. The firm has a market cap of $56.70 billion, a P/E ratio of 16.04, a PEG ratio of 0.64 and a beta of 1.81. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.43 and a current ratio of 2.46. Nucor Corporation has a 52-week low of $143.41 and a 52-week high of $287.70. The firm’s 50 day simple moving average is $255.20 and its 200 day simple moving average is $227.58.

Nucor (NYSE:NUE) last announced its earnings results on Monday, October 26th. The basic materials company reported $5.80 earnings per share for the quarter, missing the consensus estimate of $5.84 by ($0.04). Nucor had a net margin of 9.26% and a return on equity of 15.53%. The business had revenue of $11.25 billion for the quarter, compared to analyst estimates of $10.84 billion. During the same quarter in the prior year, the business earned $2.63 earnings per share. The firm’s revenue was up 32.0% on a year-over-year basis. On average, equities analysts anticipate that Nucor Corporation will post 19.63 EPS for the current year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 10th. Investors of record on Wednesday, September 30th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, September 30th. Nucor’s dividend payout ratio is currently 14.26%.

Analyst Upgrades and Downgrades

NUE has been the topic of several analyst reports. UBS Group raised their price objective on Nucor from $224.00 to $256.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Weiss Ratings upgraded Nucor from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 15th. Wall Street Zen downgraded Nucor from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 31st. Zacks Research raised Nucor from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 13th. Finally, Morgan Stanley set a $270.00 price target on Nucor in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $288.94.

About Nucor

Nucor Corporation is a U.S.-based steel and steel products manufacturer. Its steel mills produce sheet, plate, bar, structural steel and reinforcing bar used in construction, manufacturing, transportation and other industries. The company also makes downstream products such as steel joists, decking, fasteners, wire products and metal building components. Its operations include recycling ferrous scrap and producing direct reduced iron, materials used in steelmaking. Nucor traces its roots to 1905 and developed into a steel producer during the mid-20th century.