Integrated Advisors Network LLC Grows Stake in Nucor Co. (NYSE:NUE)

Integrated Advisors Network LLC grew its holdings in Nucor Co. (NYSE:NUE) by 15.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 2,797 shares of the basic materials company’s stock after acquiring an additional 369 shares during the quarter. Integrated Advisors Network LLC’s holdings in Nucor were worth $421,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. McClarren Financial Advisors Inc. boosted 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 valued at $25,000 after purchasing an additional 89 shares during the period. Chilton Capital Management LLC boosted its position in shares of Nucor by 94.2% in the 1st quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 65 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of Nucor in the 1st quarter valued at about $28,000. Brown Lisle Cummings Inc. acquired a new stake in shares of Nucor in the 3rd quarter valued at about $30,000. Finally, Salomon & Ludwin LLC acquired a new stake in shares of Nucor in the 1st quarter valued at about $31,000. 76.48% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Nucor

In related news, EVP Kenneth Rex Query sold 9,000 shares of the firm’s stock in a transaction that occurred 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 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 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NUE shares. BMO Capital Markets decreased their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research report on Wednesday, September 18th. JPMorgan Chase & Co. decreased their price objective on Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Morgan Stanley decreased their price objective on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, Argus raised Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $190.57.

Nucor Stock Performance

Shares of NUE stock opened at $141.80 on Friday. The company has a market cap of $33.65 billion, a price-to-earnings ratio of 13.70 and a beta of 1.55. The stock has a 50 day simple moving average of $147.64 and a 200-day simple moving average of $157.39. Nucor Co. has a 12-month low of $133.42 and a 12-month high of $203.00. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26.

Nucor (NYSE:NUE) last issued its earnings results 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. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The company’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same period in the prior year, the business posted $4.57 EPS. On average, equities analysts forecast that Nucor Co. will post 8.65 EPS for the current year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Friday, September 27th. Nucor’s dividend payout ratio (DPR) is 20.87%.

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.