Thrivent Financial for Lutherans Boosts Stake in Nucor Co. (NYSE:NUE)

Thrivent Financial for Lutherans grew its holdings in shares of Nucor Co. (NYSE:NUE - Free Report) by 25.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,283,111 shares of the basic materials company's stock after buying an additional 262,493 shares during the period. Thrivent Financial for Lutherans owned 0.54% of Nucor worth $192,902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. TIAA Trust National Association purchased a new stake in shares of Nucor in the 1st quarter valued at about $213,000. Cynosure Group LLC purchased a new stake in shares of Nucor in the 1st quarter valued at about $332,000. Trustmark National Bank Trust Department purchased a new stake in shares of Nucor in the 1st quarter valued at about $920,000. Peninsula Asset Management Inc. lifted its holdings in shares of Nucor by 6.1% in the 1st quarter. Peninsula Asset Management Inc. now owns 22,880 shares of the basic materials company's stock valued at $4,528,000 after purchasing an additional 1,320 shares during the last quarter. Finally, Penobscot Investment Management Company Inc. lifted its holdings in shares of Nucor by 1.4% in the 1st quarter. Penobscot Investment Management Company Inc. now owns 13,982 shares of the basic materials company's stock valued at $2,767,000 after purchasing an additional 190 shares during the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Argus raised Nucor to a "strong-buy" rating in a report on Monday, August 26th. JPMorgan Chase & Co. reduced their target price on Nucor from $170.00 to $168.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. Morgan Stanley reduced their price objective on Nucor from $170.00 to $166.00 and set an "overweight" rating for the company in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets reduced their price objective on Nucor from $175.00 to $160.00 and set a "market perform" rating for the company in a research note on Wednesday, September 18th. Three investment 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 MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $190.57.

Nucor Stock Performance

NUE traded up $0.70 on Friday, hitting $147.08. 1,519,866 shares of the company traded hands, compared to its average volume of 2,390,578. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average of $148.88 and a 200-day moving average of $154.87. Nucor Co. has a 12-month low of $133.42 and a 12-month high of $203.00. The stock has a market capitalization of $34.54 billion, a PE ratio of 14.21 and a beta of 1.55.

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

Nucor Announces Dividend

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

Insiders Place Their Bets

In related news, EVP Kenneth Rex Query sold 9,000 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president now owns 98,770 shares in the company, valued at $14,499,436. This represents a 8.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Stephen D. Laxton sold 4,712 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total value of $798,825.36. Following the completion of the sale, the chief financial officer now owns 82,132 shares in the company, valued at approximately $13,923,837.96. This represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,680 shares of company stock worth $4,773,724. Company insiders own 0.46% of the company's stock.

Nucor Company 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.