OneAscent Financial Services LLC Purchases Shares of 1,933 Nucor Co. (NYSE:NUE)

OneAscent Financial Services LLC acquired a new position in Nucor Co. (NYSE:NUE) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,933 shares of the basic materials company’s stock, valued at approximately $291,000.

Other institutional investors also recently modified their holdings of the company. McClarren Financial Advisors Inc. raised its position in 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 in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Nucor in the 3rd quarter valued at approximately $26,000. Coastline Trust Co acquired a new position in shares of Nucor in the 3rd quarter worth approximately $29,000. Brown Lisle Cummings Inc. acquired a new position in shares of Nucor in the 3rd quarter worth approximately $30,000. Finally, Salomon & Ludwin LLC lifted its position in shares of Nucor by 45.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after buying an additional 72 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NUE. BMO Capital Markets dropped their price objective 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. JPMorgan Chase & Co. lowered their target price on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Argus raised shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. Finally, Morgan Stanley decreased their price objective on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Three equities 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $190.57.

Insider Buying and Selling

In other Nucor news, CFO Stephen D. Laxton sold 4,712 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 82,132 shares of the company’s stock, valued at approximately $13,923,837.96. This trade represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Leon J. Topalian sold 11,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the sale, the chief executive officer now owns 172,136 shares of the company’s stock, valued at $29,109,918.96. The trade was a 6.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,680 shares of company stock worth $4,773,724 over the last three months. 0.64% of the stock is currently owned by company insiders.

Nucor Trading Down 1.7 %

Shares of NYSE NUE opened at $144.68 on Wednesday. Nucor Co. has a 1-year low of $133.42 and a 1-year high of $203.00. The company has a 50-day moving average of $149.01 and a two-hundred day moving average of $154.61. The company has a market cap of $33.97 billion, a PE ratio of 13.98 and a beta of 1.55. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.09. The firm had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. Nucor’s revenue was down 15.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.57 EPS. As a group, equities analysts expect that Nucor Co. will post 8.52 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.49%. The ex-dividend date was Friday, September 27th. Nucor’s dividend payout ratio is 20.87%.

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.