Main Street Financial Solutions LLC Has $232,000 Stock Position in Nucor Co. (NYSE:NUE)

Main Street Financial Solutions LLC lowered its stake in shares of Nucor Co. (NYSE:NUE) by 12.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,541 shares of the basic materials company’s stock after selling 213 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Nucor were worth $232,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NUE. Dimensional Fund Advisors LP raised its position in shares of Nucor by 2.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,909,388 shares of the basic materials company’s stock worth $617,915,000 after acquiring an additional 84,558 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Nucor by 29.7% during the second quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock worth $456,030,000 after buying an additional 660,866 shares during the last quarter. Legal & General Group Plc lifted its holdings in Nucor by 3.2% in the second quarter. Legal & General Group Plc now owns 2,160,803 shares of the basic materials company’s stock valued at $341,580,000 after buying an additional 67,974 shares during the period. Hsbc Holdings PLC grew its holdings in Nucor by 11.6% during the 2nd quarter. Hsbc Holdings PLC now owns 1,069,920 shares of the basic materials company’s stock worth $169,433,000 after acquiring an additional 111,177 shares during the period. Finally, ProShare Advisors LLC raised its position in shares of Nucor by 2.8% during the 2nd quarter. ProShare Advisors LLC now owns 1,055,632 shares of the basic materials company’s stock valued at $166,874,000 after acquiring an additional 28,384 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Trading Up 0.5 %

NYSE:NUE opened at $147.08 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61. 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 simple moving average is $148.72 and its 200-day simple moving average is $155.16. The stock has a market capitalization of $34.54 billion, a PE ratio of 14.21 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, beating the consensus estimate of $1.40 by $0.09. The business had revenue of $7.44 billion for the quarter, compared to analysts’ expectations of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The firm’s revenue was down 15.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.57 EPS. Sell-side analysts expect that Nucor Co. will post 8.52 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders 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 annualized dividend and a dividend yield of 1.47%. Nucor’s dividend payout ratio is currently 20.87%.

Insider Buying and Selling

In related news, EVP Kenneth Rex Query sold 9,000 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $14,499,436. This trade represents a 8.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stephen D. Laxton sold 4,712 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total value of $798,825.36. Following the sale, the chief financial officer now owns 82,132 shares in the company, valued at $13,923,837.96. The trade was a 5.43 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,680 shares of company stock worth $4,773,724. 0.46% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NUE. BMO Capital Markets reduced their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 18th. Argus upgraded Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Morgan Stanley lowered their price target on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus 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.