Nucor Co. (NYSE:NUE) Holdings Increased by Pacer Advisors Inc.

Pacer Advisors Inc. grew its position in shares of Nucor Co. (NYSE:NUE) by 19.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,456,484 shares of the basic materials company’s stock after purchasing an additional 571,682 shares during the period. Nucor makes up 1.1% of Pacer Advisors Inc.’s portfolio, making the stock its 9th biggest holding. Pacer Advisors Inc.’s holdings in Nucor were worth $519,648,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NUE. McClarren Financial Advisors Inc. increased its stake in Nucor by 129.0% in the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 89 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Nucor during the 3rd quarter valued at about $26,000. Coastline Trust Co bought a new stake in Nucor in the 3rd quarter worth approximately $29,000. Brown Lisle Cummings Inc. purchased a new stake in Nucor in the third quarter worth approximately $30,000. Finally, Salomon & Ludwin LLC grew 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 acquiring an additional 72 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Stock Performance

Shares of NYSE:NUE opened at $148.17 on Thursday. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average price of $149.32 and a 200-day moving average price of $154.36. The company has a market cap of $34.79 billion, a price-to-earnings ratio of 14.32 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) last released its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, beating 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 analyst estimates of $7.28 billion. During the same quarter in the prior 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 analysts anticipate that Nucor Co. will post 8.52 EPS for the current year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders 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 1.46%. The ex-dividend date was Friday, September 27th. Nucor’s payout ratio is currently 20.87%.

Wall Street Analyst Weigh In

NUE has been the subject of a number of recent research reports. Argus upgraded shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. JPMorgan Chase & Co. lowered their price target 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 reduced their price objective on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets lowered their target price 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. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $190.57.

Insiders Place Their Bets

In other Nucor news, 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the transaction, the executive vice president now owns 98,770 shares of the company’s stock, valued at approximately $14,499,436. The trade was a 8.35 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,680 shares of company stock worth $4,773,724. 0.46% of the stock is currently owned by corporate insiders.

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.