Trinity Legacy Partners LLC Takes Position in Nucor Co. (NYSE:NUE)

Trinity Legacy Partners LLC bought a new position in Nucor Co. (NYSE:NUE - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 17,172 shares of the basic materials company's stock, valued at approximately $2,625,000.

Other hedge funds also recently made changes to their positions in the company. GPS Wealth Strategies Group LLC increased its holdings in shares of Nucor by 4.1% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,630 shares of the basic materials company's stock worth $258,000 after buying an additional 64 shares during the last quarter. Chilton Capital Management LLC grew its position in Nucor by 94.2% in the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company's stock worth $27,000 after acquiring an additional 65 shares in the last quarter. Aptus Capital Advisors LLC increased its stake in Nucor by 2.1% during the second quarter. Aptus Capital Advisors LLC now owns 3,457 shares of the basic materials company's stock worth $546,000 after acquiring an additional 71 shares during the last quarter. Brighton Jones LLC increased its stake in Nucor by 3.3% during the second quarter. Brighton Jones LLC now owns 2,218 shares of the basic materials company's stock worth $351,000 after acquiring an additional 71 shares during the last quarter. Finally, Salomon & Ludwin LLC raised its position in Nucor by 45.6% during the third 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 period. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NUE shares. Morgan Stanley dropped their target price 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 note 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 on the stock in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Nucor from $170.00 to $168.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $190.57.

Nucor Trading Down 1.4 %

Shares of NYSE:NUE traded down $2.33 on Friday, hitting $158.84. 1,702,835 shares of the company's stock were exchanged, compared to its average volume of 2,188,655. The business's 50 day simple moving average is $148.04 and its two-hundred day simple moving average is $155.77. 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 stock has a market capitalization of $37.70 billion, a price-to-earnings ratio of 15.35 and a beta of 1.55. Nucor Co. has a 12 month low of $133.42 and a 12 month high of $203.00.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share 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 analyst estimates of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The firm's revenue for the quarter was down 15.2% on a year-over-year basis. During the same quarter last year, the business posted $4.57 EPS. Analysts anticipate that Nucor Co. will post 8.65 EPS for the current fiscal year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 annualized dividend and a yield of 1.36%. Nucor's dividend payout ratio (DPR) is currently 20.87%.

Insiders Place Their Bets

In other Nucor news, EVP Kenneth Rex Query sold 9,000 shares of the company's 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 completion of the sale, the executive vice president now directly owns 98,770 shares in the company, valued at approximately $14,499,436. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Leon J. Topalian sold 11,000 shares of Nucor stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 172,136 shares of the company's stock, valued at $29,109,918.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kenneth Rex Query sold 9,000 shares of the company's 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 sale, the executive vice president now owns 98,770 shares of the company's stock, valued at approximately $14,499,436. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,712 shares of company stock worth $3,980,235 in the last ninety days. 0.46% of the stock is owned by company 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.