Biechele Royce Advisors Decreases Stock Holdings in Nucor Co. (NYSE:NUE)

Biechele Royce Advisors reduced its holdings in shares of Nucor Co. (NYSE:NUE) by 2.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,629 shares of the basic materials company’s stock after selling 1,050 shares during the quarter. Nucor accounts for 2.3% of Biechele Royce Advisors’ portfolio, making the stock its 18th largest position. Biechele Royce Advisors’ holdings in Nucor were worth $6,860,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. CX Institutional grew its stake in Nucor by 52.8% during the second quarter. CX Institutional now owns 17,245 shares of the basic materials company’s stock worth $2,726,000 after buying an additional 5,960 shares during the period. Norden Group LLC purchased a new stake in Nucor during the first quarter worth approximately $1,847,000. Banco Santander S.A. grew its stake in Nucor by 86.2% during the first quarter. Banco Santander S.A. now owns 12,895 shares of the basic materials company’s stock worth $2,552,000 after buying an additional 5,971 shares during the period. Ascension Asset Management LLC purchased a new stake in Nucor during the second quarter worth approximately $885,000. Finally, Kimelman & Baird LLC purchased a new stake in Nucor during the second quarter worth approximately $6,655,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Nucor

In related news, EVP Kenneth Rex Query sold 9,000 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the completion of the transaction, the executive vice president now owns 98,770 shares in the company, valued at $14,499,436. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.46% of the stock is currently owned by insiders.

Nucor Stock Performance

Shares of NYSE:NUE traded up $1.72 on Friday, reaching $143.56. 1,106,005 shares of the company’s stock were exchanged, compared to its average volume of 1,507,166. The firm has a market capitalization of $34.07 billion, a price-to-earnings ratio of 13.87 and a beta of 1.55. Nucor Co. has a fifty-two week low of $133.42 and a fifty-two week high of $203.00. The business’s 50-day moving average is $147.56 and its two-hundred day moving average is $157.04. 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 (NYSE:NUE) last released its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.09. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The business had revenue of $7.44 billion for the quarter, compared to analysts’ expectations of $7.28 billion. During the same quarter last year, the company earned $4.57 EPS. The company’s revenue for the quarter was down 15.2% compared to the same quarter last year. As a group, equities research analysts forecast that Nucor Co. will post 8.65 EPS for the current year.

Nucor Announces Dividend

The business 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. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.50%. Nucor’s dividend payout ratio is presently 20.87%.

Analyst Upgrades and Downgrades

NUE has been the subject of several analyst reports. Argus upgraded shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Morgan Stanley decreased 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. BMO Capital Markets decreased 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. decreased 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 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $190.57.

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.