17,922 Nucor Corporation $NUE Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC lessened its position in shares of Nucor Corporation (NYSE:NUE - Free Report) by 7.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 214,725 shares of the basic materials company's stock after selling 17,922 shares during the period. Douglas Lane & Associates LLC owned 0.09% of Nucor worth $50,192,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Transamerica Financial Advisors LLC purchased a new position in shares of Nucor in the second quarter worth about $25,000. Manning & Napier Advisors LLC purchased a new position in shares of Nucor in the second quarter valued at $27,000. Bell Investment Advisors Inc bought a new stake in shares of Nucor during the 2nd quarter valued at $28,000. Markowski Investments bought a new position in Nucor in the 2nd quarter worth about $29,000. Finally, Motiv8 Investments LLC purchased a new position in Nucor during the 4th quarter valued at about $32,000. 76.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NUE shares. BMO Capital Markets raised their price objective on shares of Nucor from $285.00 to $295.00 and gave the company an "outperform" rating in a research report on Wednesday, July 29th. The Goldman Sachs Group reduced their price target on shares of Nucor from $304.00 to $302.00 and set a "buy" rating for the company in a research report on Friday, September 18th. Wall Street Zen raised shares of Nucor from a "buy" rating to a "strong-buy" rating in a report on Sunday, October 4th. Weiss Ratings raised Nucor from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 25th. Finally, Barclays lifted their price objective on shares of Nucor from $272.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 29th. Thirteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $276.93.

Nucor Trading Up 2.3%

NYSE:NUE traded up $5.71 during mid-day trading on Friday, reaching $251.85. 320,449 shares of the company's stock traded hands, compared to its average volume of 1,551,578. The company has a 50 day moving average price of $255.46 and a 200-day moving average price of $234.72. The firm has a market capitalization of $57.14 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 0.87 and a beta of 1.84. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.36. Nucor Corporation has a 12-month low of $131.32 and a 12-month high of $280.11.

Nucor (NYSE:NUE - Get Free Report) last posted its earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.46 by $0.38. The firm had revenue of $10.40 billion for the quarter, compared to analysts' expectations of $10.15 billion. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The business's revenue was up 23.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.60 earnings per share. On average, sell-side analysts predict that Nucor Corporation will post 18.89 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 10th. Stockholders of record on Wednesday, September 30th will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Nucor's dividend payout ratio (DPR) is currently 17.86%.

Insider Transactions at Nucor

In other Nucor news, EVP Thomas J. Batterbee sold 4,000 shares of the firm's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $261.02, for a total value of $1,044,080.00. Following the completion of the sale, the executive vice president directly owned 16,138 shares in the company, valued at $4,212,340.76. This trade represents a 19.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Stephen D. Laxton sold 3,968 shares of Nucor stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total value of $1,019,617.28. Following the sale, the chief operating officer directly owned 77,867 shares in the company, valued at approximately $20,008,704.32. The trade was a 4.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.62% of the company's stock.

Nucor Profile

Nucor Corporation is a Charlotte, North Carolina-based steel producer and one of the largest steel companies in North America. The company operates electric arc furnace (EAF) steel mills that use recycled scrap steel as a primary raw material, along with facilities that manufacture and process steel products for construction, manufacturing, transportation, energy and other industrial markets.

Nucor's product portfolio includes carbon and alloy steel in sheet, plate, bar and structural forms, as well as reinforcing steel, wire and wire mesh.

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