EverSource Wealth Advisors LLC Boosts Stock Position in Nucor Co. (NYSE:NUE)

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EverSource Wealth Advisors LLC increased its stake in shares of Nucor Co. (NYSE:NUEGet Rating) by 34.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 540 shares of the basic materials company’s stock after purchasing an additional 139 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Nucor were worth $80,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. acquired a new stake in Nucor in the 4th quarter worth about $25,000. Riverview Trust Co acquired a new stake in Nucor in the 1st quarter worth about $28,000. Capital Advisory Group Advisory Services LLC acquired a new stake in Nucor in the 1st quarter worth about $30,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new stake in Nucor in the 1st quarter worth about $30,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in Nucor in the 1st quarter worth about $32,000. Hedge funds and other institutional investors own 79.07% of the company’s stock.

Insiders Place Their Bets

In other Nucor news, EVP Kenneth Rex Query sold 5,000 shares of Nucor stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $141.64, for a total transaction of $708,200.00. Following the sale, the executive vice president now directly owns 76,100 shares in the company, valued at approximately $10,778,804. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Nucor news, EVP Kenneth Rex Query sold 5,000 shares of Nucor stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $141.64, for a total transaction of $708,200.00. Following the sale, the executive vice president now directly owns 76,100 shares in the company, valued at approximately $10,778,804. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Allen C. Behr sold 3,407 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $122.17, for a total value of $416,233.19. Following the completion of the sale, the executive vice president now owns 64,087 shares of the company’s stock, valued at $7,829,508.79. The disclosure for this sale can be found here. 0.46% of the stock is owned by company insiders.

Nucor Stock Performance

Shares of NYSE:NUE opened at $117.08 on Friday. The company has a market cap of $30.65 billion, a P/E ratio of 3.59 and a beta of 1.39. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.62. Nucor Co. has a one year low of $88.50 and a one year high of $187.90. The business’s 50-day simple moving average is $130.80 and its 200 day simple moving average is $133.42.

Nucor (NYSE:NUEGet Rating) last announced its earnings results on Thursday, July 21st. The basic materials company reported $9.67 EPS for the quarter, beating the consensus estimate of $8.91 by $0.76. Nucor had a return on equity of 57.78% and a net margin of 21.03%. The business had revenue of $11.79 billion for the quarter, compared to the consensus estimate of $11.59 billion. During the same period last year, the business posted $5.04 EPS. The company’s revenue was up 34.2% on a year-over-year basis. On average, sell-side analysts forecast that Nucor Co. will post 31.01 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, September 29th. This represents a $2.00 annualized dividend and a yield of 1.71%. Nucor’s dividend payout ratio is presently 6.14%.

Analyst Ratings Changes

NUE has been the topic of a number of research analyst reports. Morgan Stanley decreased their price target on Nucor from $121.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday, July 25th. Citigroup lifted their price objective on Nucor to $145.00 in a research note on Tuesday, September 13th. The Goldman Sachs Group reduced their price objective on Nucor from $148.00 to $130.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 31st. UBS Group set a $120.00 price objective on Nucor in a research note on Monday, June 20th. Finally, JPMorgan Chase & Co. reduced their price objective on Nucor from $146.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $132.78.

Nucor Company Profile

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Nucor Corporation manufactures and sells steel and steel products. The company’s 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 products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.

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