Pittenger & Anderson Inc. Grows Stock Holdings in Nucor Co. (NYSE:NUE)

Pittenger & Anderson Inc. lifted its position in shares of Nucor Co. (NYSE:NUEGet Rating) by 6.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,980 shares of the basic materials company’s stock after purchasing an additional 380 shares during the period. Pittenger & Anderson Inc.’s holdings in Nucor were worth $624,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Westside Investment Management Inc. purchased a new stake in shares of Nucor in the fourth quarter valued at about $25,000. CFS Investment Advisory Services LLC increased its stake in shares of Nucor by 14,509.4% during the first quarter. CFS Investment Advisory Services LLC now owns 4,061,713 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 4,033,911 shares during the period. Riverview Trust Co acquired a new position in shares of Nucor during the first quarter worth about $28,000. Capital Advisory Group Advisory Services LLC acquired a new position in shares of Nucor during the first quarter worth about $30,000. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new position in shares of Nucor during the first 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 stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $141.64, for a total transaction of $708,200.00. Following 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 legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Allen C. Behr sold 3,407 shares of the stock in a transaction on Monday, July 25th. The shares were sold at an average price of $122.17, for a total value of $416,233.19. Following the completion of the sale, the executive vice president now owns 64,087 shares of the company’s stock, valued at $7,829,508.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kenneth Rex Query sold 5,000 shares of the stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $141.64, for a total transaction of $708,200.00. Following the completion of the sale, the executive vice president now directly owns 76,100 shares of the company’s stock, valued at approximately $10,778,804. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by insiders.

Analyst Ratings Changes

NUE has been the topic of a number of recent analyst reports. The Goldman Sachs Group dropped their price target 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. StockNews.com lowered shares of Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, September 13th. Citigroup upped their target price on shares of Nucor to $145.00 in a research report on Tuesday, September 13th. Morgan Stanley lowered 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 report on Monday, July 25th. Finally, UBS Group set a $120.00 price target on shares of Nucor in a research report on Monday, June 20th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $132.78.

Nucor Stock Performance

Shares of NUE opened at $108.85 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.62. The company has a market capitalization of $28.50 billion, a price-to-earnings ratio of 3.34 and a beta of 1.39. The company’s 50 day simple moving average is $131.13 and its 200 day simple moving average is $132.80. Nucor Co. has a 1 year low of $88.50 and a 1 year high of $187.90.

Nucor (NYSE:NUEGet Rating) last announced its quarterly earnings data on Thursday, July 21st. The basic materials company reported $9.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.91 by $0.76. The business had revenue of $11.79 billion for 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%. The company’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.04 earnings per share. On average, sell-side analysts predict that Nucor Co. will post 31.08 EPS for the current 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 paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Thursday, September 29th. Nucor’s dividend payout ratio is currently 6.14%.

Nucor Profile

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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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