Fifth Third Wealth Advisors LLC Grows Stock Holdings in Nucor Co. (NYSE:NUE)

Fifth Third Wealth Advisors LLC grew its holdings in Nucor Co. (NYSE:NUE) by 12.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,069 shares of the basic materials company’s stock after buying an additional 456 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Nucor were worth $612,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in NUE. Seven Eight Capital LP bought a new stake in Nucor during the first quarter worth approximately $637,000. Bessemer Group Inc. boosted its holdings in shares of Nucor by 43.3% in the 1st quarter. Bessemer Group Inc. now owns 21,400 shares of the basic materials company’s stock worth $4,235,000 after purchasing an additional 6,466 shares during the period. Lake Street Advisors Group LLC increased its position in shares of Nucor by 37.1% during the 1st quarter. Lake Street Advisors Group LLC now owns 1,663 shares of the basic materials company’s stock valued at $330,000 after purchasing an additional 450 shares during the last quarter. Natixis raised its holdings in Nucor by 1,761.5% during the 1st quarter. Natixis now owns 3,146 shares of the basic materials company’s stock valued at $623,000 after buying an additional 2,977 shares during the period. Finally, Crewe Advisors LLC bought a new stake in Nucor in the first quarter worth $62,000. 76.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Leon J. Topalian sold 11,000 shares of the business’s stock in a transaction 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 directly owns 172,136 shares in the company, valued at $29,109,918.96. The trade was a 6.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Stephen D. Laxton sold 4,712 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total value of $798,825.36. Following the completion of the sale, the chief financial officer now owns 82,132 shares of the company’s stock, valued at approximately $13,923,837.96. This trade represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,680 shares of company stock worth $4,773,724 in the last three months. 0.46% of the stock is owned by insiders.

Nucor Price Performance

Nucor stock opened at $148.17 on Thursday. The stock has a market cap of $34.79 billion, a price-to-earnings ratio of 14.32 and a beta of 1.55. The firm has a 50-day moving average of $149.11 and a two-hundred day moving average of $154.40. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61.

Nucor (NYSE:NUE) last issued its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.09. The business had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The business’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same period in the prior year, the business earned $4.57 EPS. On average, research analysts forecast that Nucor Co. will post 8.52 earnings per share for the current year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, September 27th were issued a dividend of $0.54 per share. The ex-dividend date was Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.46%. Nucor’s dividend payout ratio is currently 20.87%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. BMO Capital Markets cut their price target 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. Morgan Stanley decreased their price objective on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, Argus raised Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Nucor presently has a consensus rating of “Moderate Buy” and a consensus target price 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.