1,544 Shares in Nucor Co. (NYSE:NUE) Acquired by Whalen Wealth Management Inc.

Whalen Wealth Management Inc. purchased a new stake in shares of Nucor Co. (NYSE:NUE) during the third quarter, Holdings Channel.com reports. The firm purchased 1,544 shares of the basic materials company’s stock, valued at approximately $232,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. TIAA Trust National Association acquired a new stake in Nucor during the 1st quarter worth about $213,000. Seven Eight Capital LP purchased a new position in shares of Nucor in the first quarter worth about $637,000. UniSuper Management Pty Ltd lifted its holdings in shares of Nucor by 257.1% during the first quarter. UniSuper Management Pty Ltd now owns 8,245 shares of the basic materials company’s stock worth $1,632,000 after purchasing an additional 5,936 shares during the period. Bessemer Group Inc. boosted its position in Nucor by 43.3% in the first quarter. Bessemer Group Inc. now owns 21,400 shares of the basic materials company’s stock valued at $4,235,000 after buying an additional 6,466 shares during the last quarter. Finally, Lake Street Advisors Group LLC increased its holdings in Nucor by 37.1% in the 1st quarter. Lake Street Advisors Group LLC now owns 1,663 shares of the basic materials company’s stock worth $330,000 after buying an additional 450 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insiders Place Their Bets

In other Nucor news, EVP Kenneth Rex Query sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the transaction, the executive vice president now directly owns 98,770 shares of the company’s stock, valued at $14,499,436. This trade represents a 8.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Leon J. Topalian sold 11,000 shares of the business’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 value of $1,860,210.00. Following the transaction, the chief executive officer now owns 172,136 shares in the company, valued at approximately $29,109,918.96. This represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,680 shares of company stock valued at $4,773,724 in the last 90 days. 0.64% of the stock is owned by insiders.

Nucor Price Performance

Nucor stock opened at $147.25 on Tuesday. 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 company’s fifty day moving average price is $148.88 and its 200 day moving average price is $154.77. The stock has a market capitalization of $34.58 billion, a P/E ratio of 14.23 and a beta of 1.55. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00.

Nucor (NYSE:NUE) last issued its quarterly earnings results 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. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The firm had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.28 billion. During the same period last year, the company posted $4.57 EPS. Nucor’s quarterly revenue was down 15.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Nucor Co. will post 8.52 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, September 27th were issued a $0.54 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.47%. Nucor’s payout ratio is currently 20.87%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NUE. BMO Capital Markets dropped their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday, September 18th. Argus raised shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. 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, JPMorgan Chase & Co. dropped their target price on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $190.57.

Nucor 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.