289 Shares in Nucor Co. (NYSE:NUE) Bought by Carolina Wealth Advisors LLC

Carolina Wealth Advisors LLC purchased a new stake in shares of Nucor Co. (NYSE:NUE) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 289 shares of the basic materials company’s stock, valued at approximately $43,000.

Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in shares of 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 valued at $617,915,000 after buying an additional 84,558 shares in the last quarter. Pacer Advisors Inc. lifted its holdings 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. Legal & General Group Plc boosted its position in shares of Nucor by 3.2% during the second quarter. Legal & General Group Plc now owns 2,160,803 shares of the basic materials company’s stock worth $341,580,000 after acquiring an additional 67,974 shares during the last quarter. Nordea Investment Management AB increased its position in Nucor by 6.5% in the first quarter. Nordea Investment Management AB now owns 1,165,094 shares of the basic materials company’s stock worth $230,572,000 after purchasing an additional 70,917 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Nucor by 11.6% in the 2nd quarter. Hsbc Holdings PLC now owns 1,069,920 shares of the basic materials company’s stock valued at $169,433,000 after acquiring an additional 111,177 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Stock Performance

NUE stock traded down $2.50 during trading on Monday, reaching $155.74. The company had a trading volume of 834,802 shares, compared to its average volume of 1,465,208. The company has a market cap of $37.34 billion, a price-to-earnings ratio of 9.31 and a beta of 1.55. Nucor Co. has a twelve month low of $133.42 and a twelve month high of $203.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.85 and a current ratio of 2.93. The firm has a 50-day simple moving average of $147.44 and a 200-day simple moving average of $160.21.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.37. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The company had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $7.69 billion. During the same quarter in the previous year, the firm posted $5.81 EPS. The firm’s revenue was down 15.2% compared to the same quarter last year. As a group, sell-side analysts expect that Nucor Co. will post 9.08 earnings per share for the current year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Friday, September 27th. Nucor’s dividend payout ratio is presently 12.71%.

Insider Buying and Selling at Nucor

In related news, EVP Daniel R. Needham sold 8,624 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the completion of the transaction, the executive vice president now owns 99,049 shares of the company’s stock, valued at $15,847,840. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NUE shares. Argus upgraded Nucor to a “strong-buy” rating in a research report on Monday, August 26th. BMO Capital Markets decreased their price objective on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. Morgan Stanley cut their target price on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. Bank of America reduced their price objective on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Finally, JPMorgan Chase & Co. lowered their target price on Nucor from $174.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Three equities research 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $191.43.

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.