Mercer Global Advisors Inc. ADV Has $17.13 Million Holdings in Nucor Co. (NYSE:NUE)

Mercer Global Advisors Inc. ADV raised its stake in shares of Nucor Co. (NYSE:NUE) by 5.6% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 108,428 shares of the basic materials company’s stock after purchasing an additional 5,763 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Nucor were worth $17,129,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its holdings in Nucor by 6.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the basic materials company’s stock worth $151,000 after buying an additional 54 shares in the last quarter. Fortitude Family Office LLC grew its stake in shares of Nucor by 54.1% in the 1st quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 59 shares in the last quarter. GPS Wealth Strategies Group LLC raised its holdings in shares of Nucor by 4.1% in the second quarter. GPS Wealth Strategies Group LLC now owns 1,630 shares of the basic materials company’s stock valued at $258,000 after purchasing an additional 64 shares during the last quarter. Chilton Capital Management LLC lifted its position in shares of Nucor by 94.2% during the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 65 shares in the last quarter. Finally, Integrated Advisors Network LLC boosted its holdings in Nucor by 3.4% during the fourth quarter. Integrated Advisors Network LLC now owns 2,141 shares of the basic materials company’s stock worth $373,000 after purchasing an additional 70 shares during the last quarter. 76.48% of the stock is owned by institutional investors.

Nucor Stock Up 0.6 %

NUE opened at $143.00 on Thursday. The business’s fifty day simple moving average is $150.15 and its 200 day simple moving average is $166.56. Nucor Co. has a 52 week low of $133.42 and a 52 week high of $203.00. The company has a quick ratio of 1.85, a current ratio of 2.93 and a debt-to-equity ratio of 0.26. The stock has a market cap of $34.29 billion, a PE ratio of 8.41 and a beta of 1.55.

Nucor (NYSE:NUE) last announced its quarterly earnings data 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 analysts’ expectations of $7.69 billion. Nucor had a return on equity of 15.69% and a net margin of 10.45%. Nucor’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same period last year, the firm posted $5.81 EPS. As a group, research analysts expect that Nucor Co. will post 9.95 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Friday, September 27th. Nucor’s dividend payout ratio is currently 12.71%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

NUE has been the subject of several analyst reports. Bank of America decreased their price objective on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. BMO Capital Markets cut their price objective on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. raised Nucor from a “neutral” rating to an “overweight” rating and raised their target price for the company from $170.00 to $174.00 in a research report on Monday, September 9th. Morgan Stanley cut their price target on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Argus upgraded shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $192.00.

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.