FSM Wealth Advisors LLC Sells 450 Shares of Nucor Co. (NYSE:NUE)

FSM Wealth Advisors LLC cut its position in Nucor Co. (NYSE:NUE) by 23.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,462 shares of the basic materials company’s stock after selling 450 shares during the period. FSM Wealth Advisors LLC’s holdings in Nucor were worth $220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. GPS Wealth Strategies Group LLC lifted its holdings in Nucor by 4.1% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,630 shares of the basic materials company’s stock valued at $258,000 after buying an additional 64 shares in the last quarter. Chilton Capital Management LLC lifted its holdings in Nucor by 94.2% during the 1st quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after buying an additional 65 shares in the last quarter. Aptus Capital Advisors LLC lifted its holdings in Nucor by 2.1% during the 2nd quarter. Aptus Capital Advisors LLC now owns 3,457 shares of the basic materials company’s stock valued at $546,000 after buying an additional 71 shares in the last quarter. Brighton Jones LLC increased its position in Nucor by 3.3% during the 2nd quarter. Brighton Jones LLC now owns 2,218 shares of the basic materials company’s stock valued at $351,000 after purchasing an additional 71 shares during the period. Finally, Salomon & Ludwin LLC increased its position in Nucor by 45.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 72 shares during the period. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Stock Up 1.4 %

Shares of Nucor stock opened at $144.61 on Wednesday. The firm’s 50 day moving average price is $147.29 and its 200-day moving average price is $155.87. 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 52-week low of $133.42 and a 52-week high of $203.00. The company has a market cap of $34.32 billion, a P/E ratio of 13.97 and a beta of 1.55.

Nucor (NYSE:NUE) last released its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.09. The company had revenue of $7.44 billion for 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%. Nucor’s revenue was down 15.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.57 EPS. On average, sell-side analysts predict that Nucor Co. will post 8.65 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.49%. The ex-dividend date is Friday, September 27th. Nucor’s dividend payout ratio is presently 20.87%.

Insiders Place Their Bets

In other Nucor news, EVP Kenneth Rex Query sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the sale, the executive vice president now owns 98,770 shares of the company’s stock, valued at approximately $14,499,436. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.64% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

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.