Stiles Financial Services Inc Raises Stock Position in Nucor Co. (NYSE:NUE)

Stiles Financial Services Inc boosted its stake in Nucor Co. (NYSE:NUE) by 59.1% in the 3rd quarter, Holdings Channel reports. The firm owned 3,655 shares of the basic materials company’s stock after buying an additional 1,358 shares during the quarter. Stiles Financial Services Inc’s holdings in Nucor were worth $550,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Chilton Capital Management LLC grew its stake in shares of Nucor by 94.2% in the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after buying an additional 65 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Nucor during the first quarter valued at approximately $28,000. McClarren Financial Advisors Inc. lifted its position in shares of Nucor by 129.0% during the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 89 shares in the last quarter. Brown Lisle Cummings Inc. purchased a new position in shares of Nucor in the third quarter valued at $30,000. Finally, HHM Wealth Advisors LLC grew its holdings in Nucor by 769.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Stock Performance

Shares of NUE opened at $160.08 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00. The firm has a fifty day moving average of $147.68 and a 200-day moving average of $155.96. The company has a market cap of $37.99 billion, a price-to-earnings ratio of 15.57 and a beta of 1.55.

Nucor (NYSE:NUE) last issued its quarterly earnings data 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 business had revenue of $7.44 billion during 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%. 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 company posted $4.57 EPS. As a group, equities analysts anticipate that Nucor Co. will post 8.65 earnings per share for the current year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.35%. Nucor’s dividend payout ratio (DPR) is 20.87%.

Insider Transactions at Nucor

In other news, CFO Stephen D. Laxton sold 4,712 shares of Nucor stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total transaction of $798,825.36. Following the completion of the sale, the chief financial officer now directly owns 82,132 shares in the company, valued at $13,923,837.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Stephen D. Laxton sold 4,712 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total value of $798,825.36. Following the completion of the sale, the chief financial officer now directly owns 82,132 shares in the company, valued at approximately $13,923,837.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kenneth Rex Query sold 9,000 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now directly owns 98,770 shares of the company’s stock, valued at approximately $14,499,436. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,712 shares of company stock valued at $3,980,235 over the last ninety days. Corporate insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

NUE has been the topic of a number of recent analyst reports. Morgan Stanley cut their price objective on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. BMO Capital Markets dropped their price target on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday, September 18th. JPMorgan Chase & Co. reduced their price objective on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock 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 investment 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $190.57.

Nucor Company 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.