Steward Partners Investment Advisory LLC Invests $1.03 Million in Nucor Co. (NUE) Stock
Steward Partners Investment Advisory LLC acquired a new position in shares of Nucor Co. (NYSE:NUE) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 18,325 shares of the basic materials company’s stock, valued at approximately $1,026,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Boys Arnold & Co. Inc. increased its holdings in Nucor by 0.3% during the 2nd quarter. Boys Arnold & Co. Inc. now owns 16,679 shares of the basic materials company’s stock worth $965,000 after purchasing an additional 50 shares during the period. Chartwell Investment Partners LLC boosted its position in Nucor by 0.5% during the 2nd quarter. Chartwell Investment Partners LLC now owns 12,180 shares of the basic materials company’s stock valued at $705,000 after acquiring an additional 55 shares in the last quarter. Sigma Planning Corp boosted its position in Nucor by 1.4% during the 2nd quarter. Sigma Planning Corp now owns 4,647 shares of the basic materials company’s stock valued at $269,000 after acquiring an additional 62 shares in the last quarter. Security National Bank of Sioux City Iowa IA boosted its position in Nucor by 0.4% during the 2nd quarter. Security National Bank of Sioux City Iowa IA now owns 21,597 shares of the basic materials company’s stock valued at $1,249,000 after acquiring an additional 77 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Nucor by 1.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,278 shares of the basic materials company’s stock valued at $421,000 after acquiring an additional 97 shares in the last quarter. Institutional investors own 74.55% of the company’s stock.
In related news, Director Victoria F. Haynes sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $55.16, for a total value of $137,900.00. Following the transaction, the director now directly owns 33,573 shares in the company, valued at $1,851,886.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider D. Chad Utermark sold 9,003 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $59.72, for a total value of $537,659.16. Following the completion of the transaction, the insider now owns 73,883 shares in the company, valued at $4,412,292.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,217 shares of company stock worth $2,608,231. Insiders own 0.70% of the company’s stock.
Several analysts have issued reports on the company. Cowen increased their target price on Nucor from $57.00 to $63.00 and gave the company a “market perform” rating in a research report on Monday, October 23rd. KeyCorp reissued a “hold” rating on shares of Nucor in a research report on Thursday, October 19th. Citigroup set a $66.00 price objective on Nucor and gave the stock a “buy” rating in a research report on Friday, October 20th. Credit Suisse Group raised their price objective on Nucor from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Friday, October 20th. Finally, Bank of America lowered their price objective on Nucor from $73.00 to $71.00 and set a “buy” rating for the company in a research report on Friday, October 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $66.80.
Shares of Nucor Co. (NUE) opened at $60.11 on Friday. The company has a quick ratio of 1.12, a current ratio of 2.11 and a debt-to-equity ratio of 0.37. Nucor Co. has a twelve month low of $51.67 and a twelve month high of $66.00. The stock has a market capitalization of $18,928.76, a PE ratio of 17.51, a P/E/G ratio of 1.35 and a beta of 1.58.
Nucor (NYSE:NUE) last posted its quarterly earnings data on Thursday, October 19th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.01. Nucor had a return on equity of 12.78% and a net margin of 5.80%. The company had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same period in the previous year, the firm posted $0.88 EPS. Nucor’s revenue was up 20.5% compared to the same quarter last year. equities research analysts anticipate that Nucor Co. will post 3.69 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.38 per share. This is a boost from Nucor’s previous quarterly dividend of $0.38. This represents a $1.52 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend is Thursday, December 28th. Nucor’s payout ratio is currently 43.90%.
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Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).
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