Highline Wealth Partners LLC Makes New Investment in Nucor Co. (NYSE:NUE)

Highline Wealth Partners LLC acquired a new stake in Nucor Co. (NYSE:NUE - Free Report) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 3,434 shares of the basic materials company's stock, valued at approximately $516,000.

Other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. increased its stake in shares of Nucor by 29.7% in the 2nd quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company's stock valued at $456,030,000 after purchasing an additional 660,866 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Nucor by 14,525.9% in the third quarter. International Assets Investment Management LLC now owns 326,889 shares of the basic materials company's stock valued at $49,144,000 after acquiring an additional 324,654 shares during the last quarter. Swedbank AB bought a new stake in shares of Nucor during the 1st quarter valued at $37,395,000. Captrust Financial Advisors grew its position in Nucor by 23.5% during the first quarter. Captrust Financial Advisors now owns 804,150 shares of the basic materials company's stock worth $159,141,000 after buying an additional 153,077 shares in the last quarter. Finally, Trinity Street Asset Management LLP bought a new stake in shares of Nucor in the 2nd quarter valued at about $19,213,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on NUE. Argus upgraded Nucor to a "strong-buy" rating in a research note on Monday, August 26th. JPMorgan Chase & Co. dropped their price objective 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 lowered their price objective on shares of Nucor from $170.00 to $166.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Finally, BMO Capital Markets decreased 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 report on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $190.57.

Nucor Price Performance

Shares of NYSE NUE traded down $3.07 during mid-day trading on Wednesday, reaching $144.13. 1,144,198 shares of the company traded hands, compared to its average volume of 1,500,780. Nucor Co. has a fifty-two week low of $133.42 and a fifty-two week high of $203.00. 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 firm has a market cap of $34.21 billion, a PE ratio of 14.22 and a beta of 1.55. The stock has a fifty day simple moving average of $147.80 and a 200-day simple moving average of $157.61.

Nucor (NYSE:NUE - Get Free Report) last posted its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.40 by $0.09. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The business had revenue of $7.44 billion during the quarter, compared to analysts' expectations of $7.28 billion. During the same period in the prior year, the business earned $4.57 EPS. Nucor's revenue for the quarter was down 15.2% compared to the same quarter last year. Equities research analysts anticipate that Nucor Co. will post 8.65 EPS for the current fiscal year.

Nucor Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Friday, September 27th. Nucor's dividend payout ratio (DPR) is currently 20.87%.

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.