Nucor Co. (NYSE:NUE) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its holdings in Nucor Co. (NYSE:NUE) by 2.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,612,216 shares of the basic materials company’s stock after buying an additional 45,467 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Nucor were worth $242,381,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. McClarren Financial Advisors Inc. lifted its holdings in Nucor by 129.0% in the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 89 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Nucor in the 3rd quarter worth approximately $26,000. Coastline Trust Co acquired a new position in Nucor during the 3rd quarter valued at approximately $29,000. Brown Lisle Cummings Inc. bought a new position in Nucor during the 3rd quarter worth $30,000. Finally, HHM Wealth Advisors LLC increased its position in Nucor by 769.2% in the second quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock worth $36,000 after buying an additional 200 shares during the period. 76.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Morgan Stanley lowered their price target on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their target price 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. BMO Capital Markets cut their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday, September 18th. Finally, Argus raised Nucor to a “strong-buy” rating in a report on Monday, August 26th. Three equities 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $190.57.

Nucor Stock Performance

NUE opened at $151.92 on Friday. Nucor Co. has a 1-year low of $133.42 and a 1-year high of $203.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61. The business has a 50 day moving average price of $149.67 and a two-hundred day moving average price of $154.07. The company has a market capitalization of $35.67 billion, a price-to-earnings ratio of 14.68 and a beta of 1.55.

Nucor (NYSE:NUE) last released its earnings results 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. The firm had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. Nucor’s revenue was down 15.2% compared to the same quarter last year. During the same period in the previous year, the company earned $4.57 earnings per share. Research analysts predict that Nucor Co. will post 8.52 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, September 27th were paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Friday, September 27th. Nucor’s dividend payout ratio is presently 20.87%.

Insiders Place Their Bets

In related news, CFO Stephen D. Laxton sold 4,712 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total transaction of $798,825.36. Following the transaction, the chief financial officer now directly owns 82,132 shares of the company’s stock, valued at approximately $13,923,837.96. The trade was a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kenneth Rex Query sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total value of $1,321,200.00. Following the sale, the executive vice president now owns 98,770 shares of the company’s stock, valued at $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 ninety days. 0.46% of the stock is currently owned by company 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.