Covestor Ltd Boosts Stake in Nucor Co. (NYSE:NUE)

Covestor Ltd boosted its position in shares of Nucor Co. (NYSE:NUE) by 103.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,015 shares of the basic materials company’s stock after purchasing an additional 515 shares during the period. Covestor Ltd’s holdings in Nucor were worth $153,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. GPS Wealth Strategies Group LLC increased its position in shares of Nucor by 4.1% during the second quarter. GPS Wealth Strategies Group LLC now owns 1,630 shares of the basic materials company’s stock valued at $258,000 after acquiring an additional 64 shares during the last quarter. Aptus Capital Advisors LLC boosted its holdings in Nucor by 2.1% in the second quarter. Aptus Capital Advisors LLC now owns 3,457 shares of the basic materials company’s stock valued at $546,000 after purchasing an additional 71 shares during the period. Brighton Jones LLC grew its stake in Nucor by 3.3% during the 2nd quarter. Brighton Jones LLC now owns 2,218 shares of the basic materials company’s stock worth $351,000 after purchasing an additional 71 shares in the last quarter. Salomon & Ludwin LLC raised its position in Nucor by 45.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 72 shares in the last quarter. Finally, First Trust Direct Indexing L.P. boosted its stake in shares of Nucor by 1.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,467 shares of the basic materials company’s stock valued at $822,000 after buying an additional 74 shares during the period. 76.48% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Leon J. Topalian sold 11,000 shares of the firm’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 completion of the sale, the chief executive officer now directly owns 172,136 shares of the company’s stock, valued at $29,109,918.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Leon J. Topalian sold 11,000 shares of the firm’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 completion of the transaction, the chief executive officer now directly owns 172,136 shares of the company’s stock, valued at $29,109,918.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 value 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,712 shares of company stock valued at $3,980,235. 0.46% of the stock is owned by company insiders.

Analysts Set New Price Targets

NUE has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price objective on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. 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. Argus raised Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Finally, BMO Capital Markets dropped their price objective on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $190.57.

Nucor Stock Up 0.1 %

Shares of NYSE NUE opened at $159.06 on Tuesday. The stock has a market cap of $37.35 billion, a PE ratio of 15.37 and a beta of 1.55. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. Nucor Co. has a 52-week low of $133.42 and a 52-week high of $203.00. The business has a 50-day moving average price of $148.04 and a 200 day moving average price of $155.51.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share 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 analysts’ expectations of $7.28 billion. During the same period last year, the firm earned $4.57 EPS. The firm’s revenue for the quarter was down 15.2% on a year-over-year basis. Equities research analysts forecast that Nucor Co. will post 8.6 earnings per share for the current year.

Nucor Announces Dividend

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

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.