Good Life Advisors LLC Grows Stock Holdings in Nucor Co. (NYSE:NUE)

Good Life Advisors LLC lifted its stake in Nucor Co. (NYSE:NUE) by 13.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,597 shares of the basic materials company’s stock after buying an additional 190 shares during the period. Good Life Advisors LLC’s holdings in Nucor were worth $240,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of NUE. McClarren Financial Advisors Inc. increased its holdings in shares of Nucor by 129.0% in the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock worth $25,000 after buying an additional 89 shares during the period. Chilton Capital Management LLC increased its holdings in shares of Nucor by 94.2% in the first 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 during the period. Central Pacific Bank Trust Division purchased a new position in shares of Nucor in the first quarter worth about $28,000. Salomon & Ludwin LLC purchased a new position in shares of Nucor in the first quarter worth about $31,000. Finally, HHM Wealth Advisors LLC increased its holdings in shares of Nucor by 769.2% in the second quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock worth $36,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Argus upgraded Nucor to a “strong-buy” rating in a report on Monday, August 26th. JPMorgan Chase & Co. reduced their price target on Nucor from $174.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. BMO Capital Markets reduced their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday, September 18th. Morgan Stanley reduced their price target on Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. Finally, Bank of America cut their price objective on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Three investment 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 has a consensus rating of “Moderate Buy” and an average price target of $191.43.

Nucor Stock Performance

Shares of NUE opened at $158.24 on Monday. 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 business’s 50 day moving average price is $147.44 and its 200-day moving average price is $160.21. Nucor Co. has a 52 week low of $133.42 and a 52 week high of $203.00. The stock has a market cap of $37.94 billion, a P/E ratio of 9.31 and a beta of 1.55.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.37. The firm 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%. The business’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.81 EPS. Equities research analysts anticipate that Nucor Co. will post 9.08 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be given a $0.54 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 annualized dividend and a yield of 1.37%. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

Insider Activity at Nucor

In related news, EVP Daniel R. Needham sold 8,624 shares of the company’s stock in a transaction that occurred on 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 directly owns 99,049 shares of the company’s stock, valued at approximately $15,847,840. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is currently owned by insiders.

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.