871 Shares in Nucor Co. (NYSE:NUE) Acquired by Quarry LP

Quarry LP bought a new stake in shares of Nucor Co. (NYSE:NUE) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 871 shares of the basic materials company’s stock, valued at approximately $131,000.

Several other hedge funds have also bought and sold shares of the stock. McClarren Financial Advisors Inc. raised its position in shares of Nucor by 129.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after buying an additional 89 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Nucor in the third quarter valued at $26,000. Coastline Trust Co purchased a new stake in Nucor during the third quarter valued at about $29,000. Brown Lisle Cummings Inc. bought a new stake in Nucor during the third quarter worth about $30,000. Finally, Salomon & Ludwin LLC lifted its stake in Nucor by 45.6% during the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 72 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors.

Nucor Stock Performance

Shares of NYSE:NUE opened at $142.56 on Friday. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. The company has a market cap of $33.47 billion, a price-to-earnings ratio of 13.77 and a beta of 1.55. Nucor Co. has a 12 month low of $133.42 and a 12 month high of $203.00. The company has a 50-day moving average price of $150.67 and a 200-day moving average price of $152.74.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share 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 business had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.28 billion. During the same quarter last year, the business posted $4.57 EPS. The business’s revenue was down 15.2% on a year-over-year basis. As a group, equities analysts anticipate that Nucor Co. will post 8.5 EPS for the current year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.52%. The ex-dividend date was Friday, September 27th. Nucor’s dividend payout ratio (DPR) is currently 20.87%.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Allen C. Behr sold 4,968 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $159.72, for a total value of $793,488.96. Following the completion of the sale, the executive vice president now directly owns 85,376 shares in the company, valued at $13,636,254.72. This trade represents a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Leon J. Topalian sold 11,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total value of $1,860,210.00. Following the transaction, the chief executive officer now owns 172,136 shares in the company, valued at $29,109,918.96. This trade represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,680 shares of company stock valued at $4,773,724. 0.46% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NUE. The Goldman Sachs Group began coverage on Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 price objective on the stock. BMO Capital Markets reduced their price target 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. JPMorgan Chase & Co. lowered their price objective 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. Argus raised shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. Finally, Morgan Stanley lowered their price target on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $190.50.

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.