SG Americas Securities LLC Reduces Holdings in Nucor Co. (NUE)

SG Americas Securities LLC cut its holdings in Nucor Co. (NYSE:NUE) by 79.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,664 shares of the basic materials company’s stock after selling 57,955 shares during the quarter. SG Americas Securities LLC’s holdings in Nucor were worth $822,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of NUE. Jennison Associates LLC raised its holdings in Nucor by 1.4% during the 2nd quarter. Jennison Associates LLC now owns 7,140 shares of the basic materials company’s stock worth $413,000 after buying an additional 99 shares during the period. CWA Asset Management Group LLC increased its holdings in shares of Nucor by 7.1% in the 2nd quarter. CWA Asset Management Group LLC now owns 35,994 shares of the basic materials company’s stock valued at $2,083,000 after purchasing an additional 2,380 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Nucor by 8.9% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 46,237 shares of the basic materials company’s stock valued at $2,676,000 after purchasing an additional 3,792 shares during the period. Swiss National Bank increased its holdings in shares of Nucor by 3.1% in the 2nd quarter. Swiss National Bank now owns 1,163,561 shares of the basic materials company’s stock valued at $67,335,000 after purchasing an additional 35,100 shares during the period. Finally, Flippin Bruce & Porter Inc. increased its holdings in shares of Nucor by 1,802.0% in the 3rd quarter. Flippin Bruce & Porter Inc. now owns 82,298 shares of the basic materials company’s stock valued at $4,612,000 after purchasing an additional 77,971 shares during the period. Hedge funds and other institutional investors own 74.55% of the company’s stock.

In other Nucor news, insider Ladd R. Hall sold 17,583 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $57.94, for a total transaction of $1,018,759.02. Following the completion of the sale, the insider now owns 206,406 shares of the company’s stock, valued at $11,959,163.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Victoria F. Haynes sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $55.16, for a total value of $137,900.00. Following the sale, the director now directly owns 33,573 shares of the company’s stock, valued at approximately $1,851,886.68. The disclosure for this sale can be found here. Insiders have sold 44,217 shares of company stock valued at $2,608,231 in the last ninety days. Company insiders own 0.70% of the company’s stock.

Shares of Nucor Co. (NYSE:NUE) traded down $1.22 during trading on Tuesday, reaching $57.60. The company’s stock had a trading volume of 761,125 shares, compared to its average volume of 2,678,714. The company has a market capitalization of $18,380.00, a PE ratio of 16.85, a P/E/G ratio of 1.29 and a beta of 1.58. The company has a quick ratio of 1.12, a current ratio of 2.11 and a debt-to-equity ratio of 0.37. Nucor Co. has a 52-week low of $51.67 and a 52-week high of $68.00.

Nucor (NYSE:NUE) last announced its earnings results on Thursday, October 19th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. The firm had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Nucor had a return on equity of 12.78% and a net margin of 5.80%. The company’s revenue was up 20.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.88 earnings per share. analysts expect that Nucor Co. will post 3.69 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, December 29th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.52 dividend on an annualized basis and a yield of 2.64%. This is a boost from Nucor’s previous quarterly dividend of $0.38. Nucor’s dividend payout ratio is presently 42.06%.

A number of equities analysts have recently weighed in on NUE shares. Macquarie started coverage on Nucor in a report on Wednesday, September 6th. They issued a “neutral” rating and a $57.00 target price on the stock. ValuEngine downgraded Nucor from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Jefferies Group set a $68.00 target price on Nucor and gave the company a “buy” rating in a report on Monday, August 21st. Credit Suisse Group upped their target price on Nucor from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, October 20th. Finally, Cowen boosted their price target on Nucor from $57.00 to $63.00 and gave the company a “market perform” rating in a research note on Monday, October 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $67.32.

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Nucor Profile

Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).

Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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