Pathway Financial Advisers LLC Cuts Stake in Nucor Co. (NYSE:NUE)

Pathway Financial Advisers LLC cut its holdings in Nucor Co. (NYSE:NUE) by 15.5% during the third quarter, Holdings Channel reports. The firm owned 1,201 shares of the basic materials company’s stock after selling 221 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Nucor were worth $181,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its stake in Nucor by 29.7% in the 2nd quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock worth $456,030,000 after purchasing an additional 660,866 shares in the last quarter. International Assets Investment Management LLC lifted its position 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 worth $49,144,000 after buying an additional 324,654 shares in the last quarter. Swedbank AB bought a new position in Nucor during the first quarter valued at approximately $37,395,000. Captrust Financial Advisors grew its holdings in Nucor by 23.5% during the 1st quarter. Captrust Financial Advisors now owns 804,150 shares of the basic materials company’s stock valued at $159,141,000 after buying an additional 153,077 shares in the last quarter. Finally, Trinity Street Asset Management LLP bought a new stake in Nucor in the 2nd quarter worth approximately $19,213,000. 76.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Morgan Stanley lowered their target price on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Argus upgraded shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. JPMorgan Chase & Co. reduced their target price on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, BMO Capital Markets decreased their target price 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. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Nucor currently has a consensus rating of “Moderate Buy” and an average price target of $190.57.

Nucor Price Performance

Nucor stock opened at $142.72 on Thursday. 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. The firm has a 50-day moving average price of $147.73 and a 200-day moving average price of $157.50. The firm has a market capitalization of $33.87 billion, a PE ratio of 13.79 and a beta of 1.55.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.09. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The firm’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same quarter last year, the firm earned $4.57 earnings per share. As a group, equities research analysts forecast that Nucor Co. will post 8.65 EPS for the current year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Friday, September 27th. Nucor’s dividend payout ratio (DPR) is presently 20.87%.

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.