Prospera Private Wealth LLC Takes Position in Nucor Co. (NYSE:NUE)

Prospera Private Wealth LLC acquired a new stake in shares of Nucor Co. (NYSE:NUE) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 13,168 shares of the basic materials company’s stock, valued at approximately $1,980,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of NUE. Seven Eight Capital LP bought a new position in shares of Nucor in the first quarter worth $637,000. Bessemer Group Inc. increased its stake in Nucor by 43.3% in the 1st quarter. Bessemer Group Inc. now owns 21,400 shares of the basic materials company’s stock worth $4,235,000 after acquiring an additional 6,466 shares during the last quarter. Lake Street Advisors Group LLC raised its holdings in shares of Nucor by 37.1% in the 1st quarter. Lake Street Advisors Group LLC now owns 1,663 shares of the basic materials company’s stock valued at $330,000 after acquiring an additional 450 shares in the last quarter. Natixis boosted its position in shares of Nucor by 1,761.5% during the 1st quarter. Natixis now owns 3,146 shares of the basic materials company’s stock valued at $623,000 after acquiring an additional 2,977 shares during the last quarter. Finally, Crewe Advisors LLC purchased a new position in shares of Nucor during the first quarter worth about $62,000. Institutional investors own 76.48% of the company’s stock.

Insider Activity at Nucor

In related news, EVP Allen C. Behr sold 4,968 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $159.72, for a total transaction of $793,488.96. Following the transaction, the executive vice president now owns 85,376 shares in the company, valued at $13,636,254.72. The trade was a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kenneth Rex Query sold 9,000 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the completion of the transaction, the executive vice president now directly owns 98,770 shares of the company’s stock, valued at approximately $14,499,436. The trade was a 8.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,680 shares of company stock worth $4,773,724 over the last quarter. 0.64% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. BMO Capital Markets cut 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 report on Wednesday, September 18th. Morgan Stanley lowered their price target on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, Argus upgraded Nucor to a “strong-buy” rating in a 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $190.57.

Nucor Stock Down 1.7 %

NUE opened at $144.68 on Wednesday. The company has a market cap of $33.97 billion, a P/E ratio of 13.98 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’s 50-day moving average price is $149.01 and its 200-day moving average price is $154.61. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26.

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

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders 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 1.49%. The ex-dividend date of this dividend was Friday, September 27th. Nucor’s payout ratio is 20.87%.

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.