Prospera Private Wealth LLC Buys New Holdings in Nucor Co. (NYSE:NUE)

Prospera Private Wealth LLC bought a new stake in Nucor Co. (NYSE:NUE - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,168 shares of the basic materials company's stock, valued at approximately $1,980,000.

Other large investors have also recently bought and sold shares of the company. McClarren Financial Advisors Inc. raised its position in Nucor by 129.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 89 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Nucor in the third quarter valued at about $26,000. Coastline Trust Co purchased a new position in shares of Nucor during the third quarter worth about $29,000. Brown Lisle Cummings Inc. purchased a new stake in Nucor during the 3rd quarter valued at approximately $30,000. Finally, Salomon & Ludwin LLC grew its stake in shares of Nucor by 45.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company's stock valued at $35,000 after purchasing an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company's stock.

Insider Activity at Nucor

In other Nucor news, CEO Leon J. Topalian sold 11,000 shares of Nucor stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total value of $1,860,210.00. Following the completion of the sale, the chief executive officer now owns 172,136 shares in the company, valued at $29,109,918.96. The trade was a 6.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kenneth Rex Query sold 9,000 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the transaction, the executive vice president now owns 98,770 shares in the company, valued at approximately $14,499,436. The trade was a 8.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,680 shares of company stock valued at $4,773,724. 0.46% of the stock is owned by insiders.

Nucor Price Performance

NUE stock traded up $5.05 during midday trading on Wednesday, hitting $149.73. 742,856 shares of the stock were exchanged, compared to its average volume of 1,547,079. 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 quick ratio of 1.61 and a current ratio of 2.59. The stock's 50-day moving average price is $149.11 and its 200-day moving average price is $154.40. The stock has a market cap of $35.16 billion, a price-to-earnings ratio of 14.32 and a beta of 1.55.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $7.28 billion. During the same quarter in the prior year, the firm earned $4.57 earnings per share. The company's revenue for the quarter was down 15.2% compared to the same quarter last year. Research analysts predict that Nucor Co. will post 8.52 earnings per share for the current year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Friday, September 27th. Nucor's dividend payout ratio is presently 20.87%.

Wall Street Analyst Weigh In

NUE has been the subject of several analyst reports. BMO Capital Markets cut their price target 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. Argus upgraded shares of Nucor to a "strong-buy" rating in a research note on Monday, August 26th. JPMorgan Chase & Co. dropped their price target on shares of Nucor from $170.00 to $168.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. Finally, Morgan Stanley dropped their target price on Nucor from $170.00 to $166.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $190.57.

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.