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

Pathway Financial Advisers LLC decreased its holdings in Nucor Co. (NYSE:NUE) by 15.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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.

Other hedge funds have also recently modified their holdings of the company. McClarren Financial Advisors Inc. raised its position in Nucor by 129.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock worth $25,000 after buying an additional 89 shares during the last quarter. Chilton Capital Management LLC raised its holdings in shares of Nucor by 94.2% during the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 65 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Nucor during the first quarter valued at approximately $28,000. Brown Lisle Cummings Inc. bought a new position in Nucor during the third quarter valued at approximately $30,000. Finally, Salomon & Ludwin LLC purchased a new stake in Nucor in the first quarter worth approximately $31,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Stock Performance

NYSE:NUE opened at $142.72 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59. The stock has a 50-day simple moving average of $147.73 and a two-hundred day simple moving average of $157.50. The firm has a market capitalization of $33.87 billion, a PE ratio of 13.79 and a beta of 1.55. Nucor Co. has a 52-week low of $133.42 and a 52-week high of $203.00.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.09. The company had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The firm’s revenue was down 15.2% on a year-over-year basis. During the same period in the previous year, the company posted $4.57 EPS. Analysts forecast that Nucor Co. will post 8.65 EPS for the current year.

Nucor Announces Dividend

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. The ex-dividend date is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.51%. Nucor’s dividend payout ratio (DPR) is presently 20.87%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their price target on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. BMO Capital Markets lowered their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday, September 18th. Morgan Stanley cut their price target on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, Argus raised shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.