Nisa Investment Advisors LLC Sells 16,809 Shares of Nucor Co. (NYSE:NUE)

Nisa Investment Advisors LLC cut its holdings in Nucor Co. (NYSE:NUE) by 16.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 84,419 shares of the basic materials company’s stock after selling 16,809 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Nucor were worth $12,740,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brookstone Capital Management grew its stake in shares of Nucor by 19.4% during the first quarter. Brookstone Capital Management now owns 2,325 shares of the basic materials company’s stock worth $460,000 after purchasing an additional 378 shares during the period. Norden Group LLC acquired a new position in shares of Nucor during the 1st quarter worth about $1,847,000. Westside Investment Management Inc. increased its stake in shares of Nucor by 50.0% in the 1st quarter. Westside Investment Management Inc. now owns 300 shares of the basic materials company’s stock valued at $60,000 after acquiring an additional 100 shares during the last quarter. First Trust Direct Indexing L.P. raised its position in shares of Nucor by 11.7% in the 1st quarter. First Trust Direct Indexing L.P. now owns 5,308 shares of the basic materials company’s stock valued at $1,050,000 after acquiring an additional 558 shares during the period. Finally, Oak Harvest Investment Services bought a new position in Nucor during the 1st quarter worth approximately $4,336,000. 76.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on NUE shares. Morgan Stanley lowered their target price on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Argus raised shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. BMO Capital Markets lowered their target price on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $190.57.

Nucor Stock Down 0.4 %

Shares of NUE stock opened at $147.20 on Wednesday. The firm has a fifty day moving average of $147.80 and a 200-day moving average of $157.61. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. Nucor Co. has a 12-month low of $133.42 and a 12-month high of $203.00. The company has a market capitalization of $34.94 billion, a price-to-earnings ratio of 14.22 and a beta of 1.55.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.09. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The company had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. During the same quarter in the prior year, the firm earned $4.57 earnings per share. The firm’s revenue was down 15.2% compared to the same quarter last year. As a group, equities research analysts predict that Nucor Co. will post 8.65 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Friday, September 27th. Nucor’s dividend payout ratio (DPR) is currently 20.87%.

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.