Nucor Co. (NYSE:NUE) Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC boosted its holdings in Nucor Co. (NYSE:NUE) by 2.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,055,632 shares of the basic materials company’s stock after purchasing an additional 28,384 shares during the quarter. ProShare Advisors LLC owned approximately 0.44% of Nucor worth $166,874,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its stake in shares of Nucor by 6.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the basic materials company’s stock valued at $151,000 after acquiring an additional 54 shares during the last quarter. Fortitude Family Office LLC increased its position in Nucor by 54.1% during the first quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 59 shares during the last quarter. GPS Wealth Strategies Group LLC raised its stake in Nucor by 4.1% during the second quarter. GPS Wealth Strategies Group LLC now owns 1,630 shares of the basic materials company’s stock worth $258,000 after purchasing an additional 64 shares during the period. Chilton Capital Management LLC boosted its holdings in shares of Nucor by 94.2% in the 1st 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 during the last quarter. Finally, Integrated Advisors Network LLC grew its stake in shares of Nucor by 3.4% during the 4th quarter. Integrated Advisors Network LLC now owns 2,141 shares of the basic materials company’s stock valued at $373,000 after buying an additional 70 shares during the period. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NUE has been the topic of a number of research analyst reports. Argus upgraded Nucor to a “strong-buy” rating in a report on Monday, August 26th. Bank of America reduced 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. BMO Capital Markets dropped their target price on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research report on Wednesday. Morgan Stanley reduced their price target on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, JPMorgan Chase & Co. raised shares of Nucor from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $170.00 to $174.00 in a research report on Monday, September 9th. Three investment 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $192.00.

Nucor Trading Down 1.8 %

NYSE NUE opened at $146.31 on Friday. The company’s fifty day simple moving average is $149.66 and its 200-day simple moving average is $166.02. The stock has a market cap of $35.08 billion, a P/E ratio of 8.61 and a beta of 1.55. Nucor Co. has a 52 week low of $133.42 and a 52 week 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.

Nucor (NYSE:NUE) last posted 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 during the quarter, compared to analysts’ expectations of $7.69 billion. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The firm’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same period in the prior year, the company posted $5.81 EPS. Equities research analysts predict that Nucor Co. will post 9.95 EPS for the current fiscal year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.54 per share. The ex-dividend date is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.48%. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

Insider Buying and Selling at Nucor

In other news, EVP Daniel R. Needham sold 8,624 shares of the firm’s stock in a transaction that occurred on 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 owns 99,049 shares of the company’s stock, valued at $15,847,840. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.46% of the stock is currently owned by corporate insiders.

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.