BIP Wealth LLC Purchases New Shares in Nucor Co. (NYSE:NUE)

BIP Wealth LLC bought a new position in shares of Nucor Co. (NYSE:NUE) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 4,532 shares of the basic materials company’s stock, valued at approximately $681,000.

Other institutional investors have also recently modified their holdings of the company. OneAscent Financial Services LLC acquired a new stake in Nucor in the third quarter valued at approximately $291,000. Whalen Wealth Management Inc. purchased a new position in Nucor during the third quarter valued at $232,000. OneAscent Wealth Management LLC purchased a new stake in shares of Nucor during the third quarter worth about $257,000. Thrivent Financial for Lutherans raised its position in shares of Nucor by 25.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,283,111 shares of the basic materials company’s stock worth $192,902,000 after purchasing an additional 262,493 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC lifted its stake in Nucor by 1.0% in the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 28,210 shares of the basic materials company’s stock valued at $4,241,000 after buying an additional 269 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Allen C. Behr sold 4,968 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $159.72, for a total transaction of $793,488.96. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Leon J. Topalian sold 11,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the completion of the transaction, the chief executive officer now owns 172,136 shares in the company, valued at $29,109,918.96. This represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,680 shares of company stock worth $4,773,724. Company insiders own 0.64% of the company’s stock.

Nucor Trading Up 0.1 %

NUE opened at $147.25 on Tuesday. The business has a fifty day simple moving average of $149.01 and a 200-day simple moving average of $154.61. Nucor Co. has a 52 week low of $133.42 and a 52 week high of $203.00. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. The firm has a market cap of $34.58 billion, a P/E ratio of 14.23 and a beta of 1.55.

Nucor (NYSE:NUE) last issued its quarterly 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 company had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The business’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.57 earnings per share. On average, equities analysts expect that Nucor Co. will post 8.52 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, September 27th were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date was Friday, September 27th. Nucor’s dividend payout ratio is currently 20.87%.

Analyst Upgrades and Downgrades

NUE has been the topic of several research reports. JPMorgan Chase & Co. decreased their target price on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. BMO Capital Markets decreased their price objective on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday, September 18th. Argus upgraded shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Finally, Morgan Stanley lowered their price target on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Three investment 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 currently has a consensus rating of “Moderate Buy” and an average price target of $190.57.

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.