5,529 Shares in Nucor Co. (NYSE:NUE) Bought by Ullmann Wealth Partners Group LLC

Ullmann Wealth Partners Group LLC bought a new stake in Nucor Co. (NYSE:NUE) in the third quarter, Holdings Channel.com reports. The firm bought 5,529 shares of the basic materials company’s stock, valued at approximately $831,000.

A number of other hedge funds have also recently modified their holdings of NUE. Integrated Advisors Network LLC raised its position in Nucor by 3.4% in the 4th quarter. Integrated Advisors Network LLC now owns 2,141 shares of the basic materials company’s stock valued at $373,000 after purchasing an additional 70 shares during the last quarter. Syon Capital LLC lifted its stake in Nucor by 8.8% during the fourth quarter. Syon Capital LLC now owns 1,919 shares of the basic materials company’s stock worth $334,000 after purchasing an additional 155 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in Nucor by 33.0% in the fourth quarter. EP Wealth Advisors LLC now owns 1,905 shares of the basic materials company’s stock valued at $332,000 after buying an additional 473 shares during the last quarter. Wellington Management Group LLP grew its holdings in Nucor by 188.6% during the fourth quarter. Wellington Management Group LLP now owns 64,537 shares of the basic materials company’s stock worth $11,232,000 after acquiring an additional 42,178 shares during the period. Finally, Fisher Asset Management LLC increased its stake in Nucor by 4.0% in the 4th quarter. Fisher Asset Management LLC now owns 153,521 shares of the basic materials company’s stock worth $26,719,000 after purchasing an additional 5,892 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Activity at Nucor

In other news, EVP Daniel R. Needham sold 8,624 shares of the business’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 completion of the transaction, the executive vice president now directly owns 99,049 shares of the company’s stock, valued at $15,847,840. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Morgan Stanley lowered their price objective on Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. JPMorgan Chase & Co. lowered their target price on Nucor from $174.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Bank of America decreased their target price on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. BMO Capital Markets lowered their target price on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. Finally, Argus upgraded 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 given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $191.43.

Nucor Price Performance

Shares of NYSE:NUE traded down $1.20 during trading on Tuesday, reaching $151.64. The stock had a trading volume of 1,842,993 shares, compared to its average volume of 1,464,345. The business has a fifty day moving average price of $146.72 and a 200-day moving average price of $161.43. The stock has a market cap of $36.36 billion, a PE ratio of 8.92 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 2.93. Nucor Co. has a 1-year low of $133.42 and a 1-year high of $203.00.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.37. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The company had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $7.69 billion. During the same quarter in the prior year, the business earned $5.81 EPS. Nucor’s revenue was down 15.2% on a year-over-year basis. On average, equities analysts forecast that Nucor Co. will post 9.1 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors 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 1.42%. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

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.