Maia Wealth LLC Sells 132 Shares of Nucor Co. (NYSE:NUE)

Maia Wealth LLC cut its position in Nucor Co. (NYSE:NUE) by 7.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,562 shares of the basic materials company’s stock after selling 132 shares during the quarter. Maia Wealth LLC’s holdings in Nucor were worth $221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in 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 valued at $617,915,000 after buying an additional 84,558 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Nucor by 29.7% in the 2nd quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock valued at $456,030,000 after acquiring an additional 660,866 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Nucor by 3.2% during the 2nd quarter. Legal & General Group Plc now owns 2,160,803 shares of the basic materials company’s stock valued at $341,580,000 after acquiring an additional 67,974 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of Nucor by 11.6% in the second quarter. Hsbc Holdings PLC now owns 1,069,920 shares of the basic materials company’s stock worth $169,433,000 after purchasing an additional 111,177 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in Nucor by 2.8% in the second quarter. ProShare Advisors LLC now owns 1,055,632 shares of the basic materials company’s stock valued at $166,874,000 after purchasing an additional 28,384 shares in the last quarter. 76.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity at Nucor

In other news, EVP Kenneth Rex Query sold 9,000 shares of Nucor stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total value of $1,321,200.00. Following the sale, the executive vice president now directly owns 98,770 shares in the company, valued at approximately $14,499,436. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.64% of the stock is owned by company insiders.

Nucor Trading Up 16.0 %

Shares of NUE stock opened at $167.74 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61. The business has a 50-day moving average of $147.68 and a 200 day moving average of $155.96. The stock has a market capitalization of $39.81 billion, a PE ratio of 16.21 and a beta of 1.55. Nucor Co. has a 1-year low of $133.42 and a 1-year high of $203.00.

Nucor (NYSE:NUE) last issued its earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS 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%. The firm’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same period in the previous year, the firm earned $4.57 earnings per share. As a group, sell-side analysts anticipate that Nucor Co. will post 8.65 earnings per share for the current year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.29%. Nucor’s payout ratio is presently 20.87%.

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.