Aigen Investment Management LP Sells 6,454 Shares of Nucor Co. (NYSE:NUE)

Aigen Investment Management LP lowered its stake in shares of Nucor Co. (NYSE:NUE) by 45.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,640 shares of the basic materials company’s stock after selling 6,454 shares during the quarter. Aigen Investment Management LP’s holdings in Nucor were worth $1,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NUE. WealthPlan Investment Management LLC grew its position in shares of Nucor by 16.5% in the 3rd quarter. WealthPlan Investment Management LLC now owns 69,855 shares of the basic materials company’s stock worth $10,502,000 after buying an additional 9,881 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Nucor in the third quarter worth $239,000. Delta Financial Advisors LLC lifted its holdings in shares of Nucor by 2.8% during the 3rd quarter. Delta Financial Advisors LLC now owns 29,004 shares of the basic materials company’s stock valued at $4,360,000 after purchasing an additional 778 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Nucor during the 3rd quarter valued at $26,000. Finally, Crossmark Global Holdings Inc. grew its stake in Nucor by 1.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 45,128 shares of the basic materials company’s stock worth $6,785,000 after buying an additional 851 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Price Performance

NYSE:NUE opened at $153.84 on Wednesday. The firm’s fifty day moving average is $148.18 and its two-hundred day moving average is $155.39. The firm has a market cap of $36.12 billion, a price-to-earnings ratio of 14.86 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59. Nucor Co. has a one year low of $133.42 and a one year high of $203.00.

Nucor (NYSE:NUE) last posted 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. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The firm had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.28 billion. During the same period last year, the company earned $4.57 earnings per share. Nucor’s revenue for the quarter was down 15.2% compared to the same quarter last year. Research analysts expect that Nucor Co. will post 8.6 EPS for the current year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Friday, September 27th. Nucor’s dividend payout ratio (DPR) is 20.87%.

Insider Activity at Nucor

In other Nucor news, CFO Stephen D. Laxton sold 4,712 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total transaction of $798,825.36. Following the transaction, the chief financial officer now owns 82,132 shares in the company, valued at approximately $13,923,837.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Stephen D. Laxton sold 4,712 shares of Nucor stock in a transaction that occurred on 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 directly owns 82,132 shares of the company’s stock, valued at $13,923,837.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kenneth Rex Query sold 9,000 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was 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 directly owns 98,770 shares of the company’s stock, valued at $14,499,436. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,712 shares of company stock worth $3,980,235 in the last three months. Company insiders own 0.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on NUE. BMO Capital Markets decreased their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday, September 18th. Argus upgraded shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Morgan Stanley cut their price target on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. dropped their price objective 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. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Nucor currently has an average rating of “Moderate Buy” and a consensus target price of $190.57.

About Nucor

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.