Arjuna Capital Buys 328 Shares of Nucor Co. (NYSE:NUE)

Arjuna Capital boosted its stake in shares of Nucor Co. (NYSE:NUE) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,460 shares of the basic materials company’s stock after purchasing an additional 328 shares during the quarter. Arjuna Capital’s holdings in Nucor were worth $3,677,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Nucor by 2.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,909,388 shares of the basic materials company’s stock worth $617,915,000 after buying an additional 84,558 shares in the last quarter. Pacer Advisors Inc. raised its stake in Nucor by 29.7% in the second 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 in the last quarter. Legal & General Group Plc raised its stake in Nucor by 3.2% in the second quarter. Legal & General Group Plc now owns 2,160,803 shares of the basic materials company’s stock valued at $341,580,000 after purchasing an additional 67,974 shares in the last quarter. Hsbc Holdings PLC raised its stake in Nucor by 11.6% in the second quarter. Hsbc Holdings PLC now owns 1,069,920 shares of the basic materials company’s stock valued at $169,433,000 after purchasing an additional 111,177 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in Nucor by 2.8% in the second quarter. ProShare Advisors LLC now owns 1,055,632 shares of the basic materials company’s stock valued at $166,874,000 after purchasing an additional 28,384 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Activity at Nucor

In related news, EVP Kenneth Rex Query sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total value of $1,321,200.00. Following the sale, the executive vice president now directly owns 98,770 shares in the company, valued at $14,499,436. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Nucor news, CEO Leon J. Topalian sold 11,000 shares of the business’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 transaction, the chief executive officer now directly owns 172,136 shares of the company’s stock, valued at approximately $29,109,918.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kenneth Rex Query sold 9,000 shares of the business’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 in the company, valued at approximately $14,499,436. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,712 shares of company stock worth $3,980,235 over the last ninety days. Insiders own 0.64% of the company’s stock.

Nucor Trading Down 1.0 %

Shares of NYSE:NUE traded down $1.59 during midday trading on Wednesday, hitting $152.30. 254,365 shares of the stock were exchanged, compared to its average volume of 1,538,544. The stock has a market capitalization of $35.76 billion, a price-to-earnings ratio of 14.86 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59. The business’s 50-day moving average price is $148.18 and its 200 day moving average price is $155.39. Nucor Co. has a 12 month low of $133.42 and a 12 month high of $203.00.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.09. The company had revenue of $7.44 billion for the quarter, compared to analysts’ expectations 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 posted $4.57 earnings per share. Analysts predict that Nucor Co. will post 8.6 earnings per share for the current year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Friday, September 27th. Nucor’s payout ratio is presently 20.87%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on NUE shares. Morgan Stanley dropped their price target on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Argus raised Nucor to a “strong-buy” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. dropped their price target on Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets decreased their target price on 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 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.