Lakeside Advisors INC. Buys 107 Shares of Nucor Co. (NYSE:NUE)

Lakeside Advisors INC. lifted its holdings in shares of Nucor Co. (NYSE:NUE) by 0.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 40,371 shares of the basic materials company’s stock after acquiring an additional 107 shares during the quarter. Nucor makes up about 3.8% of Lakeside Advisors INC.’s portfolio, making the stock its 5th biggest holding. Lakeside Advisors INC.’s holdings in Nucor were worth $6,069,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in NUE. McClarren Financial Advisors Inc. boosted its stake in Nucor by 129.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 89 shares during the period. Chilton Capital Management LLC lifted its position in shares of Nucor by 94.2% during the 1st quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 65 shares during the period. Central Pacific Bank Trust Division bought a new stake in shares of Nucor during the 1st quarter valued at $28,000. Brown Lisle Cummings Inc. bought a new stake in shares of Nucor during the 3rd quarter valued at $30,000. Finally, Salomon & Ludwin LLC bought a new stake in shares of Nucor during the 1st quarter valued at $31,000. 76.48% of the stock is currently owned by institutional investors.

Nucor Stock Up 1.2 %

Shares of Nucor stock opened at $143.56 on Friday. The stock’s 50-day moving average is $147.56 and its 200 day moving average is $157.04. The firm has a market cap of $34.07 billion, a price-to-earnings ratio of 13.87 and a beta of 1.55. 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 Co. has a one year low of $133.42 and a one year high of $203.00.

Nucor (NYSE:NUE) last announced its quarterly earnings results 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 for 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 company’s quarterly revenue was down 15.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.57 earnings per share. Equities research analysts anticipate that Nucor Co. will post 8.65 EPS for the current year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Friday, September 27th. Nucor’s dividend payout ratio (DPR) is presently 20.87%.

Insider Activity at Nucor

In related news, EVP Kenneth Rex Query sold 9,000 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total transaction 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 approximately $14,499,436. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.46% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NUE has been the subject of a number of recent analyst reports. Morgan Stanley cut 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 raised Nucor to a “strong-buy” rating in a report on Monday, August 26th. JPMorgan Chase & Co. lowered their target price on Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, BMO Capital Markets lowered their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $190.57.

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.