OneAscent Wealth Management LLC Invests $257,000 in Nucor Co. (NYSE:NUE)

OneAscent Wealth Management LLC purchased a new stake in Nucor Co. (NYSE:NUE) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 1,707 shares of the basic materials company’s stock, valued at approximately $257,000.

A number of other hedge funds have also bought and sold shares of NUE. Dimensional Fund Advisors LP grew its position in shares of Nucor by 2.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,909,388 shares of the basic materials company’s stock worth $617,915,000 after purchasing an additional 84,558 shares in the last quarter. Pacer Advisors Inc. grew its position in Nucor by 29.7% during the second quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock worth $456,030,000 after buying an additional 660,866 shares in the last quarter. Legal & General Group Plc increased its stake in Nucor by 3.2% during the 2nd quarter. Legal & General Group Plc now owns 2,160,803 shares of the basic materials company’s stock worth $341,580,000 after acquiring an additional 67,974 shares during the period. Mizuho Securities USA LLC raised its holdings in Nucor by 8,530.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 1,595,179 shares of the basic materials company’s stock valued at $239,819,000 after acquiring an additional 1,576,695 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Nucor by 25.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,283,111 shares of the basic materials company’s stock worth $192,902,000 after purchasing an additional 262,493 shares in the last quarter. 76.48% of the stock is owned by institutional investors.

Insider Activity at Nucor

In other Nucor news, EVP Kenneth Rex Query sold 9,000 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the completion of the sale, the executive vice president now owns 98,770 shares of the company’s stock, valued at approximately $14,499,436. This represents a 8.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Leon J. Topalian sold 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the transaction, the chief executive officer now owns 172,136 shares of the company’s stock, valued at approximately $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 29,680 shares of company stock worth $4,773,724 over the last three months. Company insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. BMO Capital Markets decreased their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 18th. Argus upgraded Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Finally, Morgan Stanley decreased their price target on 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 assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.57.

Nucor Trading Up 0.1 %

NYSE NUE opened at $147.25 on Tuesday. Nucor Co. has a twelve month low of $133.42 and a twelve month high of $203.00. The business’s fifty day moving average is $148.88 and its 200 day moving average is $154.77. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. The company has a market cap of $34.58 billion, a price-to-earnings ratio of 14.23 and a beta of 1.55.

Nucor (NYSE:NUE) last released its quarterly earnings results 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 return on equity of 12.06% and a net margin of 8.05%. The business’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same period in the previous year, the business posted $4.57 earnings per share. As a group, sell-side analysts expect that Nucor Co. will post 8.52 EPS for the current fiscal year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were issued a dividend of $0.54 per share. The ex-dividend date 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 presently 20.87%.

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.