Nucor Co. (NYSE:NUE) Shares Bought by Townsquare Capital LLC

Townsquare Capital LLC grew its position in Nucor Co. (NYSE:NUE) by 5.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,622 shares of the basic materials company’s stock after purchasing an additional 255 shares during the quarter. Townsquare Capital LLC’s holdings in Nucor were worth $695,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NUE. First Hawaiian Bank increased its holdings in shares of Nucor by 41.6% in the 2nd quarter. First Hawaiian Bank now owns 1,720 shares of the basic materials company’s stock valued at $272,000 after acquiring an additional 505 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Nucor during the second quarter worth approximately $38,000. Park Avenue Securities LLC lifted its position in shares of Nucor by 1.0% during the 2nd quarter. Park Avenue Securities LLC now owns 8,914 shares of the basic materials company’s stock worth $1,409,000 after buying an additional 90 shares during the last quarter. CWM LLC grew its position in shares of Nucor by 16.0% in the 2nd quarter. CWM LLC now owns 27,098 shares of the basic materials company’s stock valued at $4,284,000 after buying an additional 3,743 shares during the last quarter. Finally, Valeo Financial Advisors LLC raised its stake in Nucor by 8.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 4,118 shares of the basic materials company’s stock worth $651,000 after acquiring an additional 337 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Stock Down 0.9 %

NUE stock opened at $154.98 on Wednesday. The stock has a market capitalization of $36.39 billion, a PE ratio of 14.97 and a beta of 1.55. The company has a fifty day moving average of $150.91 and a 200-day moving average of $153.02. 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 Co. has a one year low of $133.42 and a one year high of $203.00.

Nucor (NYSE:NUE) last released its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.09. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The company had revenue of $7.44 billion for the quarter, compared to analysts’ expectations of $7.28 billion. During the same quarter in the previous year, the firm posted $4.57 EPS. The firm’s quarterly revenue was down 15.2% on a year-over-year basis. As a group, analysts expect that Nucor Co. will post 8.5 EPS for the current year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Friday, September 27th. Nucor’s dividend payout ratio (DPR) is 20.87%.

Insider Buying and Selling

In other news, 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 transaction of $1,860,210.00. Following the sale, the chief executive officer now owns 172,136 shares of the company’s stock, valued at $29,109,918.96. The trade was a 6.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stephen D. Laxton sold 4,712 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,680 shares of company stock valued at $4,773,724. Corporate insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. The Goldman Sachs Group initiated coverage on Nucor in a report on Monday. They set a “buy” rating and a $190.00 price objective on the stock. Argus raised Nucor to a “strong-buy” rating in a report on Monday, August 26th. Morgan Stanley cut their target price 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. BMO Capital Markets decreased their price target on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.50.

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.