Prospera Private Wealth LLC Takes $1.98 Million Position in Nucor Co. (NYSE:NUE)

Prospera Private Wealth LLC purchased a new position in Nucor Co. (NYSE:NUE) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 13,168 shares of the basic materials company’s stock, valued at approximately $1,980,000.

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

Analyst Ratings Changes

Several brokerages have commented on NUE. JPMorgan Chase & Co. cut their target price on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. BMO Capital Markets dropped their price objective on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 18th. Argus raised Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Finally, Morgan Stanley dropped their price target on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.57.

Nucor Trading Down 1.7 %

Shares of NYSE:NUE opened at $144.68 on Wednesday. The stock’s 50-day simple moving average is $149.01 and its two-hundred day simple moving average is $154.61. The stock has a market capitalization of $33.97 billion, a price-to-earnings ratio of 13.98 and a beta of 1.55. Nucor Co. has a 52-week low of $133.42 and a 52-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.

Nucor (NYSE:NUE) last posted its quarterly earnings data 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 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 last year, the firm posted $4.57 earnings per share. The firm’s revenue was down 15.2% compared to the same quarter last year. Analysts expect that Nucor Co. will post 8.52 EPS for the current year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were issued a $0.54 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.49%. Nucor’s dividend payout ratio is currently 20.87%.

Insider Activity at Nucor

In other Nucor news, CFO Stephen D. Laxton sold 4,712 shares of Nucor stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total transaction of $798,825.36. Following the transaction, the chief financial officer now owns 82,132 shares of the company’s stock, valued at $13,923,837.96. The trade was a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Leon J. Topalian sold 11,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the completion of the transaction, the chief executive officer now owns 172,136 shares of the company’s stock, valued at approximately $29,109,918.96. The trade was a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,680 shares of company stock worth $4,773,724. Corporate insiders own 0.64% 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.