24,429 Shares in Nucor Corporation $NUE Purchased by Trek Financial LLC

Key Points

• Trek Financial LLC acquired 24,429 Nucor shares worth approximately $5.71 million in the third quarter. Institutional investors and hedge funds collectively own 76.48% of Nucor.
• Nucor’s latest quarter showed 32% year-over-year revenue growth to $11.25 billion, though earnings of $5.80 per share narrowly missed analyst expectations. Shares opened at $273.47, near the company’s 52-week high.
• Analysts maintain a generally positive outlook, with a consensus “Buy” rating and $285.27 average price target. Nucor also declared a quarterly dividend of $0.56 per share, equating to a 0.8% annualized yield.

Trek Financial LLC acquired a new stake in Nucor Corporation (NYSE:NUE - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 24,429 shares of the basic materials company's stock, valued at approximately $5,710,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NUE. Transamerica Financial Advisors LLC purchased a new stake in Nucor in the second quarter valued at approximately $25,000. Manning & Napier Advisors LLC acquired a new stake in shares of Nucor during the second quarter worth about $27,000. Bell Investment Advisors Inc purchased a new position in shares of Nucor during the second quarter worth about $28,000. GK Wealth Management LLC purchased a new stake in Nucor during the 3rd quarter valued at approximately $28,000. Finally, Markowski Investments acquired a new stake in Nucor during the 2nd quarter worth approximately $29,000. 76.48% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Nucor

In other Nucor news, EVP Noah Hanners sold 5,190 shares of Nucor stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $275.03, for a total value of $1,427,405.70. Following the completion of the sale, the executive vice president directly owned 44,073 shares in the company, valued at $12,121,397.19. The trade was a 10.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.62% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NUE shares. UBS Group increased their price target on Nucor from $224.00 to $256.00 and gave the stock a "neutral" rating in a report on Tuesday, July 28th. Barclays lifted their price target on Nucor from $306.00 to $320.00 and gave the company an "overweight" rating in a research note on Wednesday, October 28th. BMO Capital Markets raised their target price on Nucor from $285.00 to $295.00 and gave the company an "outperform" rating in a report on Wednesday, July 29th. Bank of America decreased their target price on shares of Nucor from $290.00 to $280.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Finally, Wells Fargo & Company raised their price objective on shares of Nucor from $280.00 to $305.00 and gave the company an "overweight" rating in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $285.27.

Nucor Stock Performance

Shares of NYSE:NUE opened at $273.47 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.43 and a current ratio of 2.46. The business's 50-day simple moving average is $253.79 and its 200 day simple moving average is $223.43. The company has a market cap of $62.04 billion, a P/E ratio of 17.41, a PEG ratio of 0.67 and a beta of 1.81. Nucor Corporation has a one year low of $140.93 and a one year high of $280.11.

Nucor (NYSE:NUE - Get Free Report) last issued its earnings results on Monday, October 26th. The basic materials company reported $5.80 EPS for the quarter, missing the consensus estimate of $5.84 by ($0.04). The firm had revenue of $11.25 billion during the quarter, compared to analyst estimates of $10.84 billion. Nucor had a return on equity of 15.53% and a net margin of 9.26%. Nucor's revenue was up 32.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.63 EPS. On average, sell-side analysts forecast that Nucor Corporation will post 19.61 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 10th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.56 per share. The ex-dividend date is Wednesday, September 30th. This represents a $2.24 dividend on an annualized basis and a yield of 0.8%. Nucor's dividend payout ratio (DPR) is presently 14.26%.

Nucor Profile

Nucor Corporation is a steel producer headquartered in Charlotte, North Carolina. Through its operating subsidiaries, the company manufactures steel and steel products for customers in construction, automotive, energy, heavy equipment, transportation and other industrial markets.

Nucor's operations include electric arc furnace steel mills, which produce carbon, alloy and galvanized steel products. Its product portfolio includes sheet steel, plate, beams, bars, wire and wire mesh, steel joists, deck, piling, fabricated concrete reinforcing steel and other downstream products.

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