Wealth Enhancement Advisory Services LLC Raises Stock Holdings in Nucor Co. (NYSE:NUE)

Wealth Enhancement Advisory Services LLC grew its position in shares of Nucor Co. (NYSE:NUE) by 0.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,023 shares of the basic materials company’s stock after buying an additional 257 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Nucor were worth $9,174,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings 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 during the last quarter. Pacer Advisors Inc. lifted its holdings in Nucor by 29.7% during the 2nd quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock worth $456,030,000 after buying an additional 660,866 shares during the last quarter. Legal & General Group Plc lifted its holdings in Nucor by 3.2% during the 2nd quarter. Legal & General Group Plc now owns 2,160,803 shares of the basic materials company’s stock worth $341,580,000 after buying an additional 67,974 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Nucor by 6.5% during the 1st quarter. Nordea Investment Management AB now owns 1,165,094 shares of the basic materials company’s stock worth $230,572,000 after buying an additional 70,917 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in Nucor by 11.6% during the 2nd quarter. Hsbc Holdings PLC now owns 1,069,920 shares of the basic materials company’s stock worth $169,433,000 after buying an additional 111,177 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Stock Performance

Shares of NUE stock opened at $147.20 on Wednesday. Nucor Co. has a 12-month low of $133.42 and a 12-month high of $203.00. The firm has a market capitalization of $34.94 billion, a price-to-earnings ratio of 14.22 and a beta of 1.55. The business has a 50 day simple moving average of $147.80 and a 200 day simple moving average of $157.61. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.09. The firm had revenue of $7.44 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the company posted $4.57 EPS. On average, equities research analysts anticipate that Nucor Co. will post 8.65 EPS for the current year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Friday, September 27th. Nucor’s payout ratio is currently 20.87%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Argus raised Nucor to a “strong-buy” rating in a report on Monday, August 26th. JPMorgan Chase & Co. reduced their price objective on Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Morgan Stanley reduced their price objective on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, BMO Capital Markets reduced their price objective on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research report on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $190.57.

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.