Custom Index Systems LLC Purchases 2,140 Shares of Nucor Co. (NYSE:NUE)

Custom Index Systems LLC grew its holdings in Nucor Co. (NYSE:NUE) by 98.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,310 shares of the basic materials company’s stock after acquiring an additional 2,140 shares during the period. Custom Index Systems LLC’s holdings in Nucor were worth $648,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in NUE. DekaBank Deutsche Girozentrale lifted its holdings in Nucor by 11.2% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 130,143 shares of the basic materials company’s stock worth $19,317,000 after purchasing an additional 13,068 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Nucor by 0.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 61,023 shares of the basic materials company’s stock valued at $9,174,000 after buying an additional 257 shares during the last quarter. Arkadios Wealth Advisors lifted its holdings in shares of Nucor by 11.9% in the third quarter. Arkadios Wealth Advisors now owns 2,912 shares of the basic materials company’s stock worth $438,000 after buying an additional 310 shares in the last quarter. Forsta AP Fonden boosted its position in shares of Nucor by 31.2% during the third quarter. Forsta AP Fonden now owns 92,200 shares of the basic materials company’s stock worth $13,861,000 after acquiring an additional 21,900 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Nucor by 18.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,555 shares of the basic materials company’s stock valued at $2,936,000 after acquiring an additional 3,093 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Trading Up 0.1 %

NYSE NUE traded up $0.13 during trading on Friday, hitting $141.47. The stock had a trading volume of 1,741,408 shares, compared to its average volume of 1,499,747. Nucor Co. has a one year low of $133.42 and a one year high of $203.00. The stock has a 50 day simple moving average of $147.66 and a 200 day simple moving average of $158.57. The stock has a market capitalization of $33.58 billion, a price-to-earnings ratio of 13.67 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.85 and a current ratio of 2.59.

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. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The firm had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. During the same period last year, the company earned $4.57 EPS. Nucor’s quarterly revenue was down 15.2% compared to the same quarter last year. Sell-side analysts predict that Nucor Co. will post 9.08 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be issued a dividend of $0.54 per share. The ex-dividend date is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.53%. Nucor’s payout ratio is 20.87%.

Analyst Upgrades and Downgrades

Several research analysts have commented on NUE shares. Morgan Stanley dropped their price objective on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a report on Wednesday. BMO Capital Markets dropped their price target on 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 raised Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Finally, JPMorgan Chase & Co. decreased their price objective on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a report on Wednesday. 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 company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.57.

Insider Buying and Selling at Nucor

In other news, EVP Daniel R. Needham sold 8,624 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the transaction, the executive vice president now directly owns 99,049 shares of the company’s stock, valued at approximately $15,847,840. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.46% of the stock is owned by corporate insiders.

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.