Meeder Advisory Services Inc. Has $1.31 Million Stake in Nucor Co. (NYSE:NUE)

Meeder Advisory Services Inc. grew its position in Nucor Co. (NYSE:NUE) by 148.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,303 shares of the basic materials company’s stock after buying an additional 4,959 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Nucor were worth $1,313,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in NUE. Rise Advisors LLC bought a new position in Nucor in the first quarter valued at approximately $27,000. Chilton Capital Management LLC raised its holdings in shares of Nucor by 94.2% during the 1st quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock worth $27,000 after buying an additional 65 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Nucor during the 1st quarter worth $28,000. Tompkins Financial Corp lifted its position in shares of Nucor by 208.0% during the 1st quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock worth $30,000 after buying an additional 104 shares during the last quarter. Finally, Salomon & Ludwin LLC acquired a new stake in Nucor in the first quarter valued at about $31,000. Institutional investors own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

NUE has been the subject of a number of research reports. Argus raised shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. Morgan Stanley upgraded shares of Nucor from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $187.00 to $176.00 in a research report on Thursday, August 15th. Jefferies Financial Group started coverage on shares of Nucor in a report on Monday, May 20th. They set a “hold” rating and a $190.00 price target for the company. BMO Capital Markets cut their price objective on Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a report on Monday, June 17th. Finally, JPMorgan Chase & Co. raised Nucor from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $170.00 to $174.00 in a report on Monday, September 9th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $195.00.

Nucor Stock Up 2.1 %

Shares of NYSE:NUE opened at $143.59 on Friday. The firm has a market cap of $34.08 billion, a P/E ratio of 8.45 and a beta of 1.55. Nucor Co. has a 12-month low of $133.42 and a 12-month high of $203.00. The business has a fifty day simple moving average of $150.71 and a 200 day simple moving average of $167.76. The company has a quick ratio of 1.85, a current ratio of 2.93 and a debt-to-equity ratio of 0.26.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.37. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The company had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $7.69 billion. During the same period last year, the company earned $5.81 earnings per share. The firm’s revenue was down 15.2% compared to the same quarter last year. Analysts predict that Nucor Co. will post 9.95 earnings per share for the current year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.50%. Nucor’s dividend payout ratio is currently 12.71%.

Insider Transactions at Nucor

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

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.