Whalen Wealth Management Inc. Invests $232,000 in Nucor Co. (NYSE:NUE)

Whalen Wealth Management Inc. purchased a new stake in shares of Nucor Co. (NYSE:NUE) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,544 shares of the basic materials company’s stock, valued at approximately $232,000.

Several other institutional investors have also bought and sold shares of the business. McClarren Financial Advisors Inc. raised its position in shares of Nucor by 129.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after buying an additional 89 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Nucor during the 3rd quarter valued at approximately $26,000. Coastline Trust Co bought a new stake in Nucor in the third quarter worth $29,000. Brown Lisle Cummings Inc. purchased a new position in Nucor during the third quarter worth $30,000. Finally, Salomon & Ludwin LLC grew its holdings in Nucor by 45.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 72 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Insider Buying and Selling at Nucor

In other news, CFO Stephen D. Laxton sold 4,712 shares of Nucor 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 transaction, the chief financial officer now owns 82,132 shares of the company’s stock, valued at $13,923,837.96. The trade was a 5.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kenneth Rex Query sold 9,000 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the sale, the executive vice president now directly owns 98,770 shares of the company’s stock, valued at $14,499,436. The trade was a 8.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,680 shares of company stock worth $4,773,724 over the last quarter. Insiders own 0.64% of the company’s stock.

Nucor Trading Up 0.1 %

NYSE NUE opened at $147.25 on Tuesday. Nucor Co. has a one year low of $133.42 and a one year high of $203.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59. The company has a market capitalization of $34.58 billion, a price-to-earnings ratio of 14.23 and a beta of 1.55. The company’s 50-day simple moving average is $148.88 and its two-hundred day simple moving average is $154.77.

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

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend was Friday, September 27th. Nucor’s payout ratio is currently 20.87%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on NUE shares. Morgan Stanley decreased their price target on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. BMO Capital Markets lowered their target price 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. JPMorgan Chase & Co. reduced their price target 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. Finally, Argus raised shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Nucor currently has an average rating of “Moderate Buy” and an average price target of $190.57.

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.