Creative Planning Purchases 822 Shares of Nucor Co. (NYSE:NUE)

Creative Planning lifted its position in shares of Nucor Co. (NYSE:NUE) by 0.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 109,174 shares of the basic materials company’s stock after acquiring an additional 822 shares during the period. Creative Planning’s holdings in Nucor were worth $16,413,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Wedge Capital Management L L P NC lifted its stake in Nucor by 7.8% in the 3rd quarter. Wedge Capital Management L L P NC now owns 50,068 shares of the basic materials company’s stock valued at $7,527,000 after purchasing an additional 3,639 shares during the last quarter. ORG Wealth Partners LLC bought a new position in Nucor in the 3rd quarter valued at approximately $167,000. Procyon Advisors LLC lifted its stake in Nucor by 3.6% in the 3rd quarter. Procyon Advisors LLC now owns 15,762 shares of the basic materials company’s stock valued at $2,370,000 after purchasing an additional 541 shares during the last quarter. Polianta Ltd lifted its stake in Nucor by 26.2% in the 3rd quarter. Polianta Ltd now owns 7,700 shares of the basic materials company’s stock valued at $1,157,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Douglas Lane & Associates LLC lifted its stake in Nucor by 22.7% in the 3rd quarter. Douglas Lane & Associates LLC now owns 97,568 shares of the basic materials company’s stock valued at $14,668,000 after purchasing an additional 18,044 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

NUE has been the subject of several research reports. Morgan Stanley dropped their price objective on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, September 18th. Bank of America dropped their price target 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. JPMorgan Chase & Co. dropped their price target on shares of Nucor from $174.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. BMO Capital Markets dropped their price target on shares of 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, Argus raised shares of Nucor to a “strong-buy” rating in a research note on Monday, August 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $191.43.

Nucor Trading Down 1.3 %

NUE opened at $156.11 on Tuesday. Nucor Co. has a twelve month low of $133.42 and a twelve month 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 company has a fifty day moving average of $147.74 and a 200-day moving average of $159.90. The stock has a market cap of $37.43 billion, a PE ratio of 9.18 and a beta of 1.55.

Nucor (NYSE:NUE) last posted 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 business 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 business’s quarterly revenue was down 15.2% on a year-over-year basis. During the same period last year, the company posted $5.81 earnings per share. On average, sell-side analysts predict that Nucor Co. will post 9.08 EPS for the current year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Friday, September 27th. Nucor’s dividend payout ratio is currently 12.71%.

Insider Activity at Nucor

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of Nucor stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total value of $1,379,840.00. Following the sale, the executive vice president now owns 99,049 shares of the company’s stock, valued at approximately $15,847,840. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.46% of the stock is owned by insiders.

Nucor 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.