Nucor Corporation $NUE Stock: Kestra Advisory Services LLC Grows Holdings

Kestra Advisory Services LLC boosted its holdings in Nucor Corporation (NYSE:NUE) by 31.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,359 shares of the basic materials company’s stock after purchasing an additional 8,397 shares during the quarter. Kestra Advisory Services LLC’s holdings in Nucor were worth $8,265,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Quest 10 Wealth Builders Inc. raised its holdings in Nucor by 140.8% in the 3rd quarter. Quest 10 Wealth Builders Inc. now owns 342 shares of the basic materials company’s stock valued at $80,000 after acquiring an additional 200 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Nucor by 0.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 202,500 shares of the basic materials company’s stock worth $47,334,000 after acquiring an additional 1,495 shares in the last quarter. Pathway Financial Advisers LLC boosted its holdings in shares of Nucor by 20.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,391 shares of the basic materials company’s stock valued at $325,000 after purchasing an additional 236 shares in the last quarter. Chicago Partners Investment Group LLC increased its stake in shares of Nucor by 3.9% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,046 shares of the basic materials company’s stock valued at $528,000 after purchasing an additional 76 shares during the last quarter. Finally, Sound Financial Strategies Group LLC raised its holdings in shares of Nucor by 16.5% during the 3rd quarter. Sound Financial Strategies Group LLC now owns 1,840 shares of the basic materials company’s stock worth $430,000 after buying an additional 261 shares in the last quarter. 76.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

NUE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their target price on Nucor from $296.00 to $304.00 and gave the company an “overweight” rating in a research report on Wednesday, October 28th. Freedom Broker upgraded Nucor from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $285.00 to $304.00 in a research report on Friday, October 30th. Wall Street Zen cut Nucor from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 31st. Barclays boosted their price target on Nucor from $306.00 to $320.00 and gave the stock an “overweight” rating in a report on Wednesday, October 28th. Finally, Citigroup reissued a “buy” rating on shares of Nucor in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $287.38.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Noah Hanners sold 5,190 shares of the business’s stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $275.03, for a total transaction of $1,427,405.70. Following the completion of the sale, the executive vice president owned 44,073 shares in the company, valued at approximately $12,121,397.19. The trade was a 10.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Allen C. Behr sold 11,846 shares of the business’s stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $272.90, for a total transaction of $3,232,773.40. Following the sale, the executive vice president directly owned 58,022 shares of the company’s stock, valued at approximately $15,834,203.80. The trade was a 16.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 28,732 shares of company stock worth $7,881,287. Company insiders own 0.62% of the company’s stock.

Nucor Stock Performance

Shares of NUE opened at $256.72 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.43. The stock has a 50-day moving average of $255.28 and a 200-day moving average of $226.38. The company has a market cap of $58.24 billion, a PE ratio of 16.34, a P/E/G ratio of 0.61 and a beta of 1.81. Nucor Corporation has a one year low of $141.33 and a one year high of $287.70.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, October 26th. The basic materials company reported $5.80 earnings per share for the quarter, missing analysts’ consensus estimates of $5.84 by ($0.04). Nucor had a return on equity of 15.53% and a net margin of 9.26%. The firm had revenue of $11.25 billion for the quarter, compared to analyst estimates of $10.84 billion. During the same period last year, the company posted $2.63 earnings per share. The firm’s quarterly revenue was up 32.0% compared to the same quarter last year. On average, equities research analysts predict that Nucor Corporation will post 19.63 EPS for the current fiscal year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 10th. Investors of record on Wednesday, September 30th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Wednesday, September 30th. Nucor’s dividend payout ratio (DPR) is currently 14.26%.

Nucor Company Profile

Nucor Corporation is a U.S.-based steel and steel products manufacturer. Its steel mills produce sheet, plate, bar, structural steel and reinforcing bar used in construction, manufacturing, transportation and other industries. The company also makes downstream products such as steel joists, decking, fasteners, wire products and metal building components. Its operations include recycling ferrous scrap and producing direct reduced iron, materials used in steelmaking. Nucor traces its roots to 1905 and developed into a steel producer during the mid-20th century.