Lifeworks Advisors LLC Makes New Investment in Nucor Co. (NYSE:NUE)

Lifeworks Advisors LLC bought a new stake in shares of Nucor Co. (NYSE:NUE) in the third quarter, HoldingsChannel reports. The institutional investor bought 1,360 shares of the basic materials company’s stock, valued at approximately $204,000.

Several other large investors also recently modified their holdings of NUE. Pacer Advisors Inc. increased its stake in Nucor by 29.7% in the second quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock valued at $456,030,000 after acquiring an additional 660,866 shares during the last quarter. Ceredex Value Advisors LLC acquired a new position in shares of Nucor during the 3rd quarter worth $74,829,000. International Assets Investment Management LLC lifted its position in shares of Nucor by 14,525.9% during the 3rd quarter. International Assets Investment Management LLC now owns 326,889 shares of the basic materials company’s stock worth $49,144,000 after buying an additional 324,654 shares during the last quarter. Swedbank AB bought a new stake in shares of Nucor during the 1st quarter worth $37,395,000. Finally, Captrust Financial Advisors boosted its stake in Nucor by 23.5% in the first quarter. Captrust Financial Advisors now owns 804,150 shares of the basic materials company’s stock valued at $159,141,000 after buying an additional 153,077 shares in the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NUE. JPMorgan Chase & Co. dropped their target price on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Argus raised shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Morgan Stanley cut their target price on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, BMO Capital Markets lowered their price target 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. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $190.57.

Insider Buying and Selling

In other news, EVP Allen C. Behr sold 4,968 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $159.72, for a total value of $793,488.96. Following the transaction, the executive vice president now directly owns 85,376 shares of the company’s stock, valued at $13,636,254.72. The trade was a 5.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kenneth Rex Query sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total value of $1,321,200.00. Following the sale, the executive vice president now directly owns 98,770 shares of the company’s stock, valued at $14,499,436. This represents a 8.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,680 shares of company stock valued at $4,773,724 over the last ninety days. 0.46% of the stock is owned by company insiders.

Nucor Trading Up 0.5 %

NUE opened at $147.08 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61. Nucor Co. has a fifty-two week low of $133.42 and a fifty-two week high of $203.00. The company’s 50 day moving average price is $148.72 and its two-hundred day moving average price is $155.16. The firm has a market capitalization of $34.54 billion, a price-to-earnings ratio of 14.21 and a beta of 1.55.

Nucor (NYSE:NUE) last issued 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 company had revenue of $7.44 billion for 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 for the quarter was down 15.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.57 earnings per share. As a group, research analysts predict that Nucor Co. will post 8.52 earnings per share for the current year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.47%. Nucor’s dividend payout ratio (DPR) is 20.87%.

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.