QRG Capital Management Inc. Sells 30,891 Shares of Nucor Co. (NYSE:NUE)

QRG Capital Management Inc. cut its holdings in shares of Nucor Co. (NYSE:NUE) by 24.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,272 shares of the basic materials company’s stock after selling 30,891 shares during the period. QRG Capital Management Inc.’s holdings in Nucor were worth $14,173,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NUE. Dimensional Fund Advisors LP lifted its position in Nucor by 2.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,909,388 shares of the basic materials company’s stock worth $617,915,000 after buying an additional 84,558 shares in the last quarter. Pacer Advisors Inc. lifted its position 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 purchasing an additional 660,866 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Nucor by 3.2% during 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 purchasing an additional 67,974 shares during the last quarter. Hsbc Holdings PLC increased its holdings 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 valued at $169,433,000 after purchasing an additional 111,177 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in Nucor by 2.8% in the 2nd quarter. ProShare Advisors LLC now owns 1,055,632 shares of the basic materials company’s stock worth $166,874,000 after purchasing an additional 28,384 shares during the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor Trading Down 0.7 %

Shares of NYSE NUE opened at $142.60 on Tuesday. Nucor Co. has a twelve month low of $133.42 and a twelve month high of $203.00. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. The stock has a market cap of $33.84 billion, a price-to-earnings ratio of 13.78 and a beta of 1.55. The company’s fifty day moving average is $147.40 and its 200-day moving average is $156.20.

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. Equities research analysts predict that Nucor Co. will post 8.65 EPS for the current year.

Nucor Dividend Announcement

The company 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. This represents a $2.16 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Friday, September 27th. Nucor’s dividend payout ratio is presently 20.87%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NUE shares. JPMorgan Chase & Co. cut their price target on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. BMO Capital Markets cut their target price on shares of 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 shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Finally, Morgan Stanley cut their price objective on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $190.57.

Insider Buying and Selling at Nucor

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

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.