CCM Investment Advisers LLC Purchases 404 Shares of Nucor Co. (NYSE:NUE)

CCM Investment Advisers LLC increased its stake in Nucor Co. (NYSE:NUE) by 0.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 60,911 shares of the basic materials company’s stock after purchasing an additional 404 shares during the period. CCM Investment Advisers LLC’s holdings in Nucor were worth $9,157,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. McClarren Financial Advisors Inc. grew its stake in shares of 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 purchasing an additional 89 shares during the last quarter. Rise Advisors LLC acquired a new stake in Nucor in the 1st quarter valued at $27,000. Chilton Capital Management LLC increased its position 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 worth $27,000 after acquiring an additional 65 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in shares of Nucor in the first quarter valued at approximately $28,000. Finally, Tompkins Financial Corp lifted its stake in Nucor by 208.0% during the 1st quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 104 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Nucor

In other news, EVP Daniel R. Needham sold 8,624 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total value of $1,379,840.00. Following the transaction, the executive vice president now owns 99,049 shares of the company’s stock, valued at $15,847,840. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.46% of the stock is owned by company insiders.

Nucor Price Performance

Shares of NUE stock opened at $150.90 on Friday. Nucor Co. has a 1-year low of $133.42 and a 1-year high of $203.00. The stock’s 50-day moving average is $146.75 and its 200 day moving average is $162.61. The company has a market cap of $35.81 billion, a P/E ratio of 10.88 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.37. The firm had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $7.69 billion. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The company’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same period last year, the business posted $5.81 earnings per share. Research analysts predict that Nucor Co. will post 9.1 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Friday, September 27th. Nucor’s payout ratio is currently 15.57%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NUE. JPMorgan Chase & Co. dropped their price objective on Nucor from $174.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday. Bank of America cut their price target on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. BMO Capital Markets cut their price objective 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. Argus upgraded shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. Finally, Morgan Stanley cut their target price on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Nucor has a consensus rating of “Moderate Buy” and an average price target of $191.43.

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.