4,532 Shares in Nucor Co. (NYSE:NUE) Bought by BIP Wealth LLC

BIP Wealth LLC bought a new position in shares of Nucor Co. (NYSE:NUE) in the 3rd quarter, Holdings Channel reports. The fund bought 4,532 shares of the basic materials company’s stock, valued at approximately $681,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Mizuho Securities USA LLC increased its stake in Nucor by 8,530.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 1,595,179 shares of the basic materials company’s stock valued at $239,819,000 after buying an additional 1,576,695 shares during the period. Pacer Advisors Inc. increased 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 acquiring an additional 660,866 shares during the period. Ceredex Value Advisors LLC purchased a new position in Nucor during the third quarter worth about $74,829,000. International Assets Investment Management LLC boosted its stake in shares of Nucor by 14,525.9% in the third quarter. International Assets Investment Management LLC now owns 326,889 shares of the basic materials company’s stock valued at $49,144,000 after buying an additional 324,654 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in Nucor by 25.7% in the third quarter. Thrivent Financial for Lutherans now owns 1,283,111 shares of the basic materials company’s stock worth $192,902,000 after acquiring an additional 262,493 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Price Performance

NUE opened at $147.25 on Tuesday. The company has a 50 day moving average of $149.01 and a two-hundred day moving average of $154.61. Nucor Co. has a 52-week low of $133.42 and a 52-week 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 company has a market cap of $34.58 billion, a P/E ratio of 14.23 and a beta of 1.55.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.09. The firm had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The firm’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.57 EPS. On average, analysts expect that Nucor Co. will post 8.52 earnings per share for the current year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were paid a $0.54 dividend. 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 (DPR) is presently 20.87%.

Insider Buying and Selling

In other Nucor news, CFO Stephen D. Laxton sold 4,712 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total transaction of $798,825.36. Following the transaction, the chief financial officer now directly owns 82,132 shares in the company, valued at $13,923,837.96. This represents a 5.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kenneth Rex Query sold 9,000 shares of the business’s stock in a transaction dated 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 completion of 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 8.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,680 shares of company stock valued at $4,773,724 in the last quarter. Company insiders own 0.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NUE shares. BMO Capital Markets lowered their price objective on shares of 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 reduced their price objective on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Argus raised shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating for the company 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’s stock. According to data from MarketBeat, the stock presently has a consensus 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.