ORG Wealth Partners LLC Acquires Shares of 1,108 Nucor Co. (NYSE:NUE)

ORG Wealth Partners LLC bought a new position in shares of Nucor Co. (NYSE:NUE) during the 3rd quarter, Holdings Channel reports. The firm bought 1,108 shares of the basic materials company’s stock, valued at approximately $167,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its stake in shares of Nucor by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,909,388 shares of the basic materials company’s stock valued at $617,915,000 after purchasing an additional 84,558 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Nucor by 29.7% in the 2nd quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock valued at $456,030,000 after purchasing an additional 660,866 shares during the period. Legal & General Group Plc grew its stake in shares of Nucor by 3.2% during the second quarter. Legal & General Group Plc now owns 2,160,803 shares of the basic materials company’s stock worth $341,580,000 after purchasing an additional 67,974 shares during the period. Nordea Investment Management AB lifted its stake in Nucor by 6.5% in the first quarter. Nordea Investment Management AB now owns 1,165,094 shares of the basic materials company’s stock valued at $230,572,000 after buying an additional 70,917 shares during the period. Finally, Hsbc Holdings PLC boosted its holdings in Nucor by 11.6% during the second quarter. Hsbc Holdings PLC now owns 1,069,920 shares of the basic materials company’s stock worth $169,433,000 after buying an additional 111,177 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NUE has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Nucor from $174.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Morgan Stanley reduced their target price on Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. BMO Capital Markets lowered their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. Bank of America decreased their price objective on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. Finally, Argus raised shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $191.43.

Insider Buying and Selling

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of Nucor stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the completion of the transaction, the executive vice president now directly owns 99,049 shares of the company’s stock, valued at $15,847,840. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.46% of the stock is owned by corporate insiders.

Nucor Stock Performance

NUE opened at $152.98 on Tuesday. The business’s 50-day simple moving average is $146.72 and its 200 day simple moving average is $161.43. Nucor Co. has a 52-week low of $133.42 and a 52-week high of $203.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.85 and a current ratio of 2.93. The firm has a market capitalization of $36.68 billion, a PE ratio of 9.00 and a beta of 1.55.

Nucor (NYSE:NUE) last issued its earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.37. The business had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $7.69 billion. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The firm’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same period in the previous year, the company earned $5.81 earnings per share. As a group, sell-side analysts expect that Nucor Co. will post 9.1 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.41%. Nucor’s payout ratio is 12.71%.

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.