SG Americas Securities LLC Increases Holdings in Nucor Co. (NYSE:NUE)

SG Americas Securities LLC increased its stake in shares of Nucor Co. (NYSE:NUE) by 188.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 47,294 shares of the basic materials company’s stock after acquiring an additional 30,879 shares during the quarter. SG Americas Securities LLC’s holdings in Nucor were worth $7,110,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. raised its position in Nucor by 129.0% in the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 89 shares during the period. Rise Advisors LLC purchased a new stake in Nucor in the first quarter valued at $27,000. Chilton Capital Management LLC raised its position in Nucor by 94.2% in the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 65 shares during the period. Central Pacific Bank Trust Division purchased a new stake in Nucor in the first quarter valued at $28,000. Finally, Tompkins Financial Corp raised its position in Nucor by 208.0% in the first quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 104 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Buying and Selling

In related news, EVP Daniel R. Needham sold 8,624 shares of the business’s 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 transaction, the executive vice president now directly owns 99,049 shares of the company’s stock, valued at $15,847,840. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.46% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on NUE shares. BMO Capital Markets reduced their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 18th. Argus upgraded Nucor to a “strong-buy” rating in a research report on Monday, August 26th. JPMorgan Chase & Co. upgraded Nucor from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $170.00 to $174.00 in a research report on Monday, September 9th. Bank of America dropped their price objective on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Finally, Morgan Stanley dropped their price objective on Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $192.00.

Nucor Trading Up 0.1 %

Shares of NYSE NUE opened at $151.44 on Friday. Nucor Co. has a twelve month low of $133.42 and a twelve month 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. The stock has a fifty day simple moving average of $147.33 and a 200-day simple moving average of $163.53. The stock has a market capitalization of $36.31 billion, a PE ratio of 8.91 and a beta of 1.55.

Nucor (NYSE:NUE) last released its earnings results on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, topping the consensus estimate of $2.31 by $0.37. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The firm had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $7.69 billion. During the same period in the previous year, the firm posted $5.81 EPS. Nucor’s revenue for the quarter was down 15.2% on a year-over-year basis. On average, equities analysts forecast that Nucor Co. will post 9.28 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be paid a dividend of $0.54 per share. The ex-dividend date is Friday, September 27th. This represents a $2.16 annualized dividend and a yield of 1.43%. Nucor’s payout ratio is 12.71%.

Nucor Company 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.