Independent Advisor Alliance Sells 951 Shares of Nucor Co. (NYSE:NUE)

Independent Advisor Alliance cut its position in Nucor Co. (NYSE:NUE) by 6.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,647 shares of the basic materials company’s stock after selling 951 shares during the quarter. Independent Advisor Alliance’s holdings in Nucor were worth $2,202,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd bought a new position in Nucor in the third quarter valued at about $1,802,000. Fisher Asset Management LLC increased its stake in shares of Nucor by 7.4% in the third quarter. Fisher Asset Management LLC now owns 214,203 shares of the basic materials company’s stock valued at $32,203,000 after buying an additional 14,813 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Nucor by 8.8% in the third quarter. Daiwa Securities Group Inc. now owns 51,739 shares of the basic materials company’s stock valued at $7,778,000 after buying an additional 4,189 shares during the period. Swedbank AB increased its stake in shares of Nucor by 14.0% in the third quarter. Swedbank AB now owns 209,925 shares of the basic materials company’s stock valued at $31,560,000 after buying an additional 25,744 shares during the period. Finally, Cerity Partners LLC increased its stake in shares of Nucor by 52.6% in the third quarter. Cerity Partners LLC now owns 19,985 shares of the basic materials company’s stock valued at $3,005,000 after buying an additional 6,885 shares during the period. 76.48% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Leon J. Topalian sold 11,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kenneth Rex Query sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the completion of the transaction, the executive vice president now owns 98,770 shares in the company, valued at $14,499,436. This represents a 8.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,680 shares of company stock worth $4,773,724. Corporate insiders own 0.64% of the company’s stock.

Nucor Trading Up 1.0 %

NYSE NUE opened at $153.44 on Tuesday. The business has a 50 day simple moving average of $149.88 and a 200 day simple moving average of $153.81. Nucor Co. has a one year low of $133.42 and a one year high of $203.00. The stock has a market capitalization of $36.03 billion, a P/E ratio of 14.83 and a beta of 1.55. 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 (NYSE:NUE) last released its earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.40 by $0.09. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The business had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.28 billion. During the same quarter last year, the firm posted $4.57 earnings per share. The firm’s revenue was down 15.2% on a year-over-year basis. Research analysts expect that Nucor Co. will post 8.52 earnings per share for the current year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, September 27th were issued a $0.54 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.16 annualized dividend and a yield of 1.41%. Nucor’s payout ratio is currently 20.87%.

Analyst Ratings Changes

Several brokerages have recently weighed in on NUE. Argus raised Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Morgan Stanley decreased their price target on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their price target on Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, 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. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.