Atria Investments Inc Sells 1,377 Shares of Nucor Co. (NYSE:NUE)

Atria Investments Inc lessened its stake in shares of Nucor Co. (NYSE:NUE) by 12.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,562 shares of the basic materials company’s stock after selling 1,377 shares during the period. Atria Investments Inc’s holdings in Nucor were worth $1,438,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of NUE. McClarren Financial Advisors Inc. raised its stake 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 valued at $25,000 after acquiring an additional 89 shares in the last quarter. Brown Lisle Cummings Inc. purchased a new position in Nucor during the third quarter valued at approximately $30,000. Salomon & Ludwin LLC increased its holdings in Nucor by 45.6% during the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock valued at $35,000 after buying an additional 72 shares during the period. HHM Wealth Advisors LLC increased its holdings in Nucor by 769.2% during the second quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock valued at $36,000 after buying an additional 200 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Nucor during the second quarter valued at approximately $38,000. Institutional investors own 76.48% of the company’s stock.

Analyst Ratings Changes

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

Nucor Trading Up 0.5 %

NYSE:NUE opened at $147.08 on Friday. Nucor Co. has a 12 month low of $133.42 and a 12 month high of $203.00. The firm has a fifty day simple moving average of $148.72 and a 200-day simple moving average of $155.16. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $34.54 billion, a P/E ratio of 14.16 and a beta of 1.55.

Nucor (NYSE:NUE) last posted its quarterly earnings data 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. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The business’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.57 earnings per share. On average, equities research analysts anticipate that Nucor Co. will post 8.52 earnings per share for the current year.

Nucor Announces Dividend

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

Insider Activity at Nucor

In other Nucor news, CFO Stephen D. Laxton sold 4,712 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total value of $798,825.36. Following the completion of the transaction, the chief financial officer now owns 82,132 shares in the company, valued at approximately $13,923,837.96. This represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Allen C. Behr sold 4,968 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $159.72, for a total transaction of $793,488.96. Following the completion of the transaction, the executive vice president now owns 85,376 shares of the company’s stock, valued at approximately $13,636,254.72. This trade represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,680 shares of company stock worth $4,773,724 over the last three months. Company 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.