Gateway Investment Advisers LLC Boosts Stake in Nucor Co. (NYSE:NUE)

Gateway Investment Advisers LLC raised its position in Nucor Co. (NYSE:NUEGet Rating) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,054 shares of the basic materials company’s stock after purchasing an additional 157 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Nucor were worth $2,303,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Westside Investment Management Inc. purchased a new stake in Nucor in the 4th quarter worth about $25,000. CFS Investment Advisory Services LLC raised its position in Nucor by 14,509.4% in the 1st quarter. CFS Investment Advisory Services LLC now owns 4,061,713 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 4,033,911 shares during the period. Riverview Trust Co purchased a new stake in Nucor in the 1st quarter worth about $28,000. Capital Advisory Group Advisory Services LLC bought a new position in Nucor in the 1st quarter worth about $30,000. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new position in Nucor in the 1st quarter worth about $30,000. 79.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Nucor news, EVP Kenneth Rex Query sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $141.64, for a total value of $708,200.00. Following the completion of the transaction, the executive vice president now owns 76,100 shares of the company’s stock, valued at $10,778,804. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Nucor news, EVP Kenneth Rex Query sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $141.64, for a total value of $708,200.00. Following the completion of the transaction, the executive vice president now owns 76,100 shares of the company’s stock, valued at $10,778,804. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Allen C. Behr sold 3,407 shares of the firm’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $122.17, for a total transaction of $416,233.19. Following the completion of the transaction, the executive vice president now directly owns 64,087 shares of the company’s stock, valued at approximately $7,829,508.79. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.

Nucor Price Performance

Shares of NUE opened at $108.85 on Friday. The company has a market cap of $28.50 billion, a price-to-earnings ratio of 3.34 and a beta of 1.39. Nucor Co. has a twelve month low of $88.50 and a twelve month high of $187.90. The company has a quick ratio of 1.39, a current ratio of 2.62 and a debt-to-equity ratio of 0.37. The company has a 50 day moving average of $131.13 and a two-hundred day moving average of $132.80.

Nucor (NYSE:NUEGet Rating) last announced its earnings results on Thursday, July 21st. The basic materials company reported $9.67 earnings per share for the quarter, beating the consensus estimate of $8.91 by $0.76. The company had revenue of $11.79 billion during the quarter, compared to the consensus estimate of $11.59 billion. Nucor had a net margin of 21.03% and a return on equity of 57.78%. Nucor’s revenue was up 34.2% compared to the same quarter last year. During the same period last year, the firm earned $5.04 earnings per share. As a group, analysts predict that Nucor Co. will post 31.08 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Friday, September 30th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.84%. Nucor’s dividend payout ratio is currently 6.14%.

Analyst Ratings Changes

A number of brokerages have commented on NUE. Morgan Stanley dropped their target price on shares of Nucor from $121.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday, July 25th. Citigroup increased their price objective on shares of Nucor to $145.00 in a research note on Tuesday, September 13th. JPMorgan Chase & Co. dropped their price objective on shares of Nucor from $146.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 14th. UBS Group set a $120.00 price objective on shares of Nucor in a research note on Monday, June 20th. Finally, The Goldman Sachs Group dropped their price objective on shares of Nucor from $148.00 to $130.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $132.78.

About Nucor

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Nucor Corporation manufactures and sells steel and steel products. The company's 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 products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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