Empowered Funds LLC Acquires 52,156 Shares of Nucor Co. (NYSE:NUE)

Empowered Funds LLC lifted its holdings in shares of Nucor Co. (NYSE:NUE - Free Report) by 152.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,357 shares of the basic materials company's stock after purchasing an additional 52,156 shares during the quarter. Empowered Funds LLC's holdings in Nucor were worth $12,983,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of NUE. National Pension Service lifted its stake in Nucor by 3.2% in the third 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 lifted its position in Nucor by 52.8% in the 2nd 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. Banco Santander S.A. boosted its stake in Nucor by 86.2% in the 1st quarter. Banco Santander S.A. now owns 12,895 shares of the basic materials company's stock worth $2,552,000 after purchasing an additional 5,971 shares during the period. Ascension Asset Management LLC bought a new position in Nucor during the 2nd quarter worth about $885,000. Finally, Kimelman & Baird LLC acquired a new stake in shares of Nucor in the 2nd quarter valued at about $6,655,000. Institutional investors own 76.48% of the company's stock.

Nucor Stock Performance

NYSE NUE traded up $0.70 on Friday, hitting $147.08. 1,488,566 shares of the stock were exchanged, compared to its average volume of 1,549,564. The company has a market capitalization of $34.54 billion, a PE ratio of 14.16 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61. The business's fifty day moving average is $148.72 and its 200 day moving average is $155.16. Nucor Co. has a 52 week low of $133.42 and a 52 week high of $203.00.

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. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The company had revenue of $7.44 billion for the quarter, compared to analysts' expectations of $7.28 billion. During the same period in the prior year, the firm earned $4.57 EPS. Nucor's quarterly revenue was down 15.2% compared to the same quarter last year. Research analysts anticipate that Nucor Co. will post 8.52 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.47%. Nucor's dividend payout ratio is currently 20.87%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, CFO Stephen D. Laxton sold 4,712 shares of Nucor stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total transaction of $798,825.36. Following the completion of the sale, the chief financial officer now owns 82,132 shares of the company's stock, valued at approximately $13,923,837.96. The trade was a 5.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Leon J. Topalian sold 11,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the completion of the transaction, the chief executive officer now directly owns 172,136 shares in the company, valued at approximately $29,109,918.96. This represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,680 shares of company stock valued at $4,773,724. 0.46% of the stock is 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.