Columbus Macro LLC Has $1.26 Million Stake in Nucor Co. (NYSE:NUE)

Columbus Macro LLC reduced its stake in shares of Nucor Co. (NYSE:NUE) by 1.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 8,383 shares of the basic materials company’s stock after selling 166 shares during the quarter. Columbus Macro LLC’s holdings in Nucor were worth $1,264,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in NUE. GPS Wealth Strategies Group LLC raised its stake in shares of Nucor by 4.1% in 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 acquiring an additional 64 shares in the last quarter. Chilton Capital Management LLC lifted its stake in shares of Nucor by 94.2% in the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock worth $27,000 after buying an additional 65 shares during the last quarter. Aptus Capital Advisors LLC lifted its stake in shares of Nucor by 2.1% in the second quarter. Aptus Capital Advisors LLC now owns 3,457 shares of the basic materials company’s stock worth $546,000 after buying an additional 71 shares during the last quarter. Brighton Jones LLC boosted its holdings in shares of Nucor by 3.3% during the 2nd quarter. Brighton Jones LLC now owns 2,218 shares of the basic materials company’s stock worth $351,000 after buying an additional 71 shares during the period. Finally, CGN Advisors LLC grew its stake in Nucor by 0.7% in the 1st quarter. CGN Advisors LLC now owns 9,837 shares of the basic materials company’s stock valued at $1,947,000 after buying an additional 73 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. BMO Capital Markets decreased their price target on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. JPMorgan Chase & Co. decreased their target price on Nucor from $174.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Morgan Stanley dropped their price target on Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. Argus raised Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Finally, Bank of America lowered their price objective on shares of Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Nucor presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.43.

Nucor Stock Performance

NUE traded up $0.15 during trading on Friday, reaching $158.24. 1,954,002 shares of the company’s stock were exchanged, compared to its average volume of 1,535,030. The company has a market capitalization of $37.94 billion, a P/E ratio of 9.31 and a beta of 1.55. The company has a quick ratio of 1.85, a current ratio of 2.93 and a debt-to-equity ratio of 0.26. The business has a 50 day moving average price of $147.44 and a 200 day moving average price of $160.49. Nucor Co. has a fifty-two week low of $133.42 and a fifty-two week high of $203.00.

Nucor (NYSE:NUE) last issued its earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.37. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The business had revenue of $8.08 billion for the quarter, compared to analyst estimates of $7.69 billion. During the same period in the previous year, the business earned $5.81 EPS. The firm’s revenue was down 15.2% on a year-over-year basis. As a group, analysts predict that Nucor Co. will post 9.08 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be issued a $0.54 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.37%. Nucor’s payout ratio is presently 12.71%.

Insider Activity at Nucor

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the completion of the transaction, the executive vice president now directly owns 99,049 shares in the company, valued at $15,847,840. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.46% of the stock is owned by insiders.

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.