Nucor Co. (NYSE:NUE) Shares Acquired by Covestor Ltd

Covestor Ltd increased its position in shares of Nucor Co. (NYSE:NUE) by 103.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,015 shares of the basic materials company’s stock after buying an additional 515 shares during the quarter. Covestor Ltd’s holdings in Nucor were worth $153,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its position in shares of Nucor by 29.7% in the second quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock valued at $456,030,000 after purchasing an additional 660,866 shares during the period. Ceredex Value Advisors LLC acquired a new stake in Nucor during the third quarter worth about $74,829,000. International Assets Investment Management LLC grew its holdings in shares of Nucor by 14,525.9% during 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 purchasing an additional 324,654 shares during the last quarter. Swedbank AB bought a new position in shares of Nucor during the first quarter valued at approximately $37,395,000. Finally, Captrust Financial Advisors boosted its position in shares of Nucor by 23.5% during the first quarter. Captrust Financial Advisors now owns 804,150 shares of the basic materials company’s stock worth $159,141,000 after buying an additional 153,077 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Transactions at Nucor

In related news, CFO Stephen D. Laxton sold 4,712 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total value of $798,825.36. Following the sale, the chief financial officer now owns 82,132 shares in the company, valued at approximately $13,923,837.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Stephen D. Laxton sold 4,712 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total value of $798,825.36. Following the transaction, the chief financial officer now owns 82,132 shares of the company’s stock, valued at $13,923,837.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Leon J. Topalian sold 11,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were 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 approximately $29,109,918.96. This represents 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 valued at $3,980,235 over the last three months. Corporate insiders own 0.46% of the company’s stock.

Nucor Price Performance

Shares of NYSE:NUE opened at $159.06 on Tuesday. The company has a 50 day moving average of $148.04 and a 200 day moving average of $155.51. The stock has a market cap of $37.35 billion, a P/E ratio of 15.37 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 current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.09. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The company had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. During the same quarter last year, the firm posted $4.57 earnings per share. The firm’s revenue was down 15.2% on a year-over-year basis. As a group, sell-side analysts forecast that Nucor Co. will post 8.6 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were paid a dividend of $0.54 per share. The ex-dividend date was Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.36%. Nucor’s dividend payout ratio (DPR) is presently 20.87%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NUE shares. Argus upgraded Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Morgan Stanley dropped 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. BMO Capital Markets decreased their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Nucor 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.