Pathway Financial Advisers LLC Sells 221 Shares of Nucor Co. (NYSE:NUE)

Pathway Financial Advisers LLC trimmed its stake in Nucor Co. (NYSE:NUE) by 15.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,201 shares of the basic materials company’s stock after selling 221 shares during the period. Pathway Financial Advisers LLC’s holdings in Nucor were worth $181,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brookstone Capital Management lifted its holdings in shares of Nucor by 19.4% during the 1st quarter. Brookstone Capital Management now owns 2,325 shares of the basic materials company’s stock worth $460,000 after acquiring an additional 378 shares during the last quarter. Alpha Omega Wealth Management LLC bought a new stake in Nucor during the first quarter worth about $212,000. Successful Portfolios LLC boosted its holdings in shares of Nucor by 93.8% in the 1st quarter. Successful Portfolios LLC now owns 2,830 shares of the basic materials company’s stock worth $560,000 after purchasing an additional 1,370 shares in the last quarter. Chapin Davis Inc. increased its position in shares of Nucor by 21.5% during the 1st quarter. Chapin Davis Inc. now owns 2,412 shares of the basic materials company’s stock valued at $477,000 after purchasing an additional 426 shares during the last quarter. Finally, Diversified Trust Co raised its holdings in shares of Nucor by 87.6% during the 1st quarter. Diversified Trust Co now owns 10,449 shares of the basic materials company’s stock valued at $2,068,000 after buying an additional 4,880 shares in the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Stock Up 0.1 %

Shares of Nucor stock opened at $141.47 on Friday. The company has a 50-day simple moving average of $147.66 and a two-hundred day simple moving average of $158.85. Nucor Co. has a 52-week low of $133.42 and a 52-week high of $203.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.85 and a current ratio of 2.59. The stock has a market capitalization of $33.58 billion, a PE ratio of 13.67 and a beta of 1.55.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share 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 company had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. During the same period in the previous year, the business earned $4.57 EPS. The firm’s revenue for the quarter was down 15.2% on a year-over-year basis. On average, analysts anticipate that Nucor Co. will post 9.08 EPS for the current fiscal year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be given a dividend of $0.54 per share. The ex-dividend date is Friday, September 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.53%. Nucor’s dividend payout ratio (DPR) is presently 20.87%.

Insider Buying and Selling

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the transaction, the executive vice president now owns 99,049 shares in the company, valued at approximately $15,847,840. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.46% of the stock is owned by corporate insiders.

Analyst Ratings Changes

NUE has been the topic of a number of analyst reports. Argus upgraded shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Morgan Stanley dropped their target price on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a report on Wednesday. BMO Capital Markets dropped their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. dropped their price target on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Nucor presently has an average rating of “Moderate Buy” and a consensus 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.