Pacer Advisors Inc. Has $519.65 Million Stock Holdings in Nucor Co. (NYSE:NUE)

Pacer Advisors Inc. raised its holdings in Nucor Co. (NYSE:NUE) by 19.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,456,484 shares of the basic materials company’s stock after buying an additional 571,682 shares during the quarter. Nucor accounts for 1.1% of Pacer Advisors Inc.’s investment portfolio, making the stock its 9th largest holding. Pacer Advisors Inc. owned about 1.47% of Nucor worth $519,648,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NUE. Integrated Investment Consultants LLC bought a new position in Nucor during the third quarter worth $1,786,000. Intech Investment Management LLC raised its holdings in shares of Nucor by 80.3% during the third quarter. Intech Investment Management LLC now owns 102,330 shares of the basic materials company’s stock valued at $15,384,000 after purchasing an additional 45,569 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Nucor by 9.0% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 55,512 shares of the basic materials company’s stock worth $8,346,000 after purchasing an additional 4,569 shares in the last quarter. King Luther Capital Management Corp boosted its position in shares of Nucor by 6.4% during the 3rd quarter. King Luther Capital Management Corp now owns 10,672 shares of the basic materials company’s stock worth $1,604,000 after purchasing an additional 641 shares in the last quarter. Finally, Cornerstone Advisors LLC grew its stake in shares of Nucor by 26.9% in the 3rd quarter. Cornerstone Advisors LLC now owns 6,600 shares of the basic materials company’s stock valued at $992,000 after buying an additional 1,400 shares during the period. 76.48% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Nucor news, EVP Kenneth Rex Query sold 9,000 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the transaction, the executive vice president now directly owns 98,770 shares in the company, valued at $14,499,436. The trade was a 8.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Leon J. Topalian sold 11,000 shares of the firm’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 approximately $29,109,918.96. The trade was a 6.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,680 shares of company stock valued at $4,773,724. Insiders own 0.46% of the company’s stock.

Nucor Stock Performance

NYSE NUE opened at $148.17 on Thursday. The company has a fifty day moving average price of $149.32 and a 200-day moving average price of $154.36. The firm has a market cap of $34.79 billion, a price-to-earnings ratio of 14.32 and a beta of 1.55. 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 Co. has a 1 year low of $133.42 and a 1 year high of $203.00.

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

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were issued a dividend of $0.54 per share. The ex-dividend date of this dividend 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 (DPR) is currently 20.87%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Argus upgraded Nucor to a “strong-buy” rating in a report on Monday, August 26th. Morgan Stanley cut their target price on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their price target on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, BMO Capital Markets lowered their price objective 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. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $190.57.

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.