Douglas Lane & Associates LLC Acquires 18,044 Shares of Nucor Co. (NYSE:NUE)

Douglas Lane & Associates LLC lifted its stake in Nucor Co. (NYSE:NUE) by 22.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 97,568 shares of the basic materials company’s stock after purchasing an additional 18,044 shares during the period. Douglas Lane & Associates LLC’s holdings in Nucor were worth $14,668,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. McClarren Financial Advisors Inc. increased its position 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 worth $25,000 after acquiring an additional 89 shares during the period. Rise Advisors LLC purchased a new stake in Nucor in the first quarter worth about $27,000. Chilton Capital Management LLC grew its holdings in Nucor by 94.2% during the 1st quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 65 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in shares of Nucor during the first quarter valued at approximately $28,000. Finally, Tompkins Financial Corp lifted its holdings in Nucor by 208.0% during the first quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock worth $30,000 after buying an additional 104 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Trading Up 0.7 %

NYSE:NUE traded up $1.01 on Friday, hitting $151.91. 1,594,673 shares of the stock were exchanged, compared to its average volume of 1,464,394. The stock has a fifty day moving average of $146.67 and a 200-day moving average of $162.01. The stock has a market cap of $36.42 billion, a PE ratio of 8.94 and a beta of 1.55. Nucor Co. has a fifty-two week low of $133.42 and a fifty-two week high of $203.00. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26.

Nucor (NYSE:NUE) last announced its earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.37. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The business had revenue of $8.08 billion for the quarter, compared to analyst estimates of $7.69 billion. During the same period in the previous year, the company earned $5.81 earnings per share. The company’s revenue for the quarter was down 15.2% compared to the same quarter last year. As a group, equities analysts expect that Nucor Co. will post 9.1 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Friday, September 27th. Nucor’s dividend payout ratio is presently 12.71%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NUE. BMO Capital Markets cut their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 18th. Morgan Stanley decreased their price objective on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, September 18th. Bank of America reduced their price target on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. JPMorgan Chase & Co. lowered their price objective on Nucor from $174.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Argus raised shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $191.43.

Insider Activity

In other news, EVP Daniel R. Needham sold 8,624 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the completion of the sale, the executive vice president now owns 99,049 shares in the company, valued at approximately $15,847,840. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.46% of the company’s stock.

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.