Orion Portfolio Solutions LLC Buys 717 Shares of Nucor Co. (NYSE:NUE)

Orion Portfolio Solutions LLC boosted its stake in shares of Nucor Co. (NYSE:NUE) by 3.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,447 shares of the basic materials company’s stock after acquiring an additional 717 shares during the period. Orion Portfolio Solutions LLC’s holdings in Nucor were worth $2,924,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in NUE. Mizuho Securities USA LLC increased its stake in Nucor by 8,530.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 1,595,179 shares of the basic materials company’s stock worth $239,819,000 after acquiring an additional 1,576,695 shares during the period. Pacer Advisors Inc. increased its stake in shares of Nucor by 29.7% in the 2nd 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 last quarter. Ceredex Value Advisors LLC bought a new position in shares of Nucor in the 3rd quarter valued at $74,829,000. State Street Corp increased its stake in shares of Nucor by 2.9% in the 3rd quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock valued at $1,724,117,000 after purchasing an additional 326,181 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of Nucor by 14,525.9% in the 3rd 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. Institutional investors own 76.48% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Allen C. Behr sold 4,968 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $159.72, for a total value of $793,488.96. Following the transaction, the executive vice president now directly owns 85,376 shares of the company’s stock, valued at $13,636,254.72. The trade was a 5.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kenneth Rex Query sold 9,000 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 98,770 shares of the company’s stock, valued at $14,499,436. The trade was a 8.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,680 shares of company stock valued at $4,773,724. 0.64% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NUE shares. Argus upgraded Nucor to a “strong-buy” rating in a research note on Monday, August 26th. BMO Capital Markets decreased their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 18th. Morgan Stanley decreased their price target on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their price objective on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, The Goldman Sachs Group started coverage on Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Nucor presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.50.

Nucor Stock Down 2.8 %

Shares of NUE opened at $140.57 on Wednesday. The company has a market capitalization of $33.01 billion, a PE ratio of 13.58 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 stock’s 50-day moving average price is $150.56 and its two-hundred day moving average price is $152.29. 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 earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.40 by $0.09. The firm had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The business’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same period in the previous year, the business earned $4.57 EPS. On average, analysts anticipate that Nucor Co. will post 8.5 EPS for the current year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, September 27th were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.54%. The ex-dividend date was Friday, September 27th. Nucor’s payout ratio 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.