Nwam LLC Makes New Investment in Nucor Co. (NYSE:NUE)

Nwam LLC acquired a new stake in Nucor Co. (NYSE:NUE) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,499 shares of the basic materials company’s stock, valued at approximately $225,000.

A number of other hedge funds have also made changes to their positions in the stock. Meridian Wealth Management LLC bought a new position in Nucor during the 3rd quarter valued at $428,000. Charles Schwab Investment Management Inc. boosted its stake in Nucor by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,612,216 shares of the basic materials company’s stock valued at $242,381,000 after buying an additional 45,467 shares in the last quarter. Banco Santander S.A. grew its holdings in Nucor by 329.7% during the third quarter. Banco Santander S.A. now owns 68,399 shares of the basic materials company’s stock worth $10,283,000 after acquiring an additional 52,483 shares during the period. Blackhawk Capital Partners LLC. raised its position in Nucor by 47.8% in the third quarter. Blackhawk Capital Partners LLC. now owns 3,679 shares of the basic materials company’s stock worth $553,000 after acquiring an additional 1,189 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in Nucor by 19.8% in the 3rd quarter. Pacer Advisors Inc. now owns 3,456,484 shares of the basic materials company’s stock valued at $519,648,000 after acquiring an additional 571,682 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Activity at Nucor

In other news, CEO Leon J. Topalian sold 11,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the transaction, the chief executive officer now directly owns 172,136 shares in the company, valued at $29,109,918.96. The trade was a 6.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Stephen D. Laxton sold 4,712 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total value of $798,825.36. Following the completion of the transaction, the chief financial officer now owns 82,132 shares in the company, valued at $13,923,837.96. This trade represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,680 shares of company stock valued at $4,773,724. Corporate insiders own 0.64% of the company’s stock.

Nucor Trading Up 1.0 %

NYSE NUE opened at $153.44 on Tuesday. The firm’s 50 day moving average price is $149.88 and its two-hundred day moving average price is $153.81. The stock has a market cap of $36.03 billion, a price-to-earnings ratio of 14.83 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 1.61 and a current ratio of 2.59.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.09. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The firm had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.28 billion. During the same period in the previous year, the firm earned $4.57 earnings per share. Nucor’s quarterly revenue was down 15.2% on a year-over-year basis. Equities analysts anticipate that Nucor Co. will post 8.52 EPS for the current year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.41%. The ex-dividend date was Friday, September 27th. Nucor’s dividend payout ratio is currently 20.87%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Argus raised shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Morgan Stanley decreased their price target on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. cut their price objective on Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research report 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 report on Wednesday, September 18th. Three 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.