Nucor Co. (NYSE:NUE) Stake Lifted by Creative Planning

Creative Planning grew its position in shares of Nucor Co. (NYSE:NUE) by 4.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 108,352 shares of the basic materials company’s stock after acquiring an additional 5,048 shares during the quarter. Creative Planning’s holdings in Nucor were worth $17,128,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Rise Advisors LLC bought a new position in Nucor in the 1st quarter worth about $27,000. Chilton Capital Management LLC grew its holdings in Nucor by 94.2% in the 1st quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock worth $27,000 after buying an additional 65 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in Nucor in the 1st quarter valued at approximately $28,000. Tompkins Financial Corp raised its stake in Nucor by 208.0% during the 1st quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 104 shares in the last quarter. Finally, Salomon & Ludwin LLC acquired a new position in shares of Nucor during the first quarter valued at $31,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Argus raised shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. JPMorgan Chase & Co. upgraded shares of Nucor from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $170.00 to $174.00 in a report on Monday, September 9th. Morgan Stanley dropped their target price on Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. BMO Capital Markets decreased their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday, September 18th. Finally, Bank of America dropped their price objective on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Three equities research 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.com, Nucor currently has an average rating of “Moderate Buy” and a consensus price target of $192.00.

Insider Buying and Selling

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total value of $1,379,840.00. Following the transaction, the executive vice president now owns 99,049 shares in the company, valued at $15,847,840. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.46% of the stock is owned by corporate insiders.

Nucor Stock Performance

Shares of NUE stock opened at $150.35 on Tuesday. The company has a market capitalization of $36.05 billion, a price-to-earnings ratio of 8.84 and a beta of 1.55. Nucor Co. has a 1-year low of $133.42 and a 1-year high of $203.00. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26. The stock’s fifty day simple moving average is $147.88 and its 200-day simple moving average is $164.42.

Nucor (NYSE:NUE) last issued its earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.37. The company had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $7.69 billion. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The firm’s quarterly revenue was down 15.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.81 EPS. On average, sell-side analysts predict that Nucor Co. will post 9.28 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Friday, September 27th. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

Nucor Company Profile

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.