BIP Wealth LLC Purchases New Stake in Nucor Co. (NYSE:NUE)

BIP Wealth LLC bought a new position in shares of Nucor Co. (NYSE:NUE - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,532 shares of the basic materials company's stock, valued at approximately $681,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. National Pension Service boosted its holdings in shares of Nucor by 3.2% in the 3rd quarter. National Pension Service now owns 652,502 shares of the basic materials company's stock valued at $98,097,000 after buying an additional 20,258 shares in the last quarter. CX Institutional boosted its stake in Nucor by 52.8% in the second quarter. CX Institutional now owns 17,245 shares of the basic materials company's stock valued at $2,726,000 after acquiring an additional 5,960 shares in the last quarter. Ascension Asset Management LLC purchased a new position in shares of Nucor during the second quarter worth about $885,000. Kimelman & Baird LLC acquired a new stake in shares of Nucor during the second quarter worth about $6,655,000. Finally, DRW Securities LLC purchased a new stake in shares of Nucor in the 2nd quarter valued at about $728,000. 76.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NUE shares. Morgan Stanley decreased their price objective on Nucor from $170.00 to $166.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. Argus raised shares of Nucor to a "strong-buy" rating in a research report on Monday, August 26th. BMO Capital Markets reduced their target price on shares of Nucor from $175.00 to $160.00 and set a "market perform" rating for the company in a report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. lowered their price target on Nucor from $170.00 to $168.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $190.57.

Insider Transactions at Nucor

In other Nucor news, EVP Allen C. Behr sold 4,968 shares of the company's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $159.72, for a total value of $793,488.96. Following the transaction, the executive vice president now directly owns 85,376 shares in the company, valued at approximately $13,636,254.72. This represents a 5.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kenneth Rex Query sold 9,000 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total value of $1,321,200.00. Following the transaction, the executive vice president now directly owns 98,770 shares in the company, valued at approximately $14,499,436. This represents a 8.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,680 shares of company stock valued at $4,773,724 in the last 90 days. 0.64% of the stock is currently owned by insiders.

Nucor Price Performance

NYSE:NUE traded down $2.29 during trading hours on Tuesday, hitting $144.96. The company's stock had a trading volume of 825,119 shares, compared to its average volume of 1,546,281. The company has a market capitalization of $34.04 billion, a PE ratio of 14.23 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 business's 50-day moving average is $149.01 and its two-hundred day moving average is $154.61. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59.

Nucor (NYSE:NUE - Get Free Report) last issued its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.40 by $0.09. The company had revenue of $7.44 billion during the quarter, compared to analysts' expectations of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The firm's quarterly revenue was down 15.2% compared to the same quarter last year. During the same period last year, the company posted $4.57 earnings per share. As a group, research analysts anticipate that Nucor Co. will post 8.52 EPS for the current fiscal year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, September 27th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Friday, September 27th. Nucor's dividend payout ratio (DPR) is 20.87%.

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.