Fifth Third Wealth Advisors LLC Acquires 148 Shares of Nucor Corporation $NUE

Fifth Third Wealth Advisors LLC raised its holdings in shares of Nucor Corporation (NYSE:NUE) by 3.7% in the 2nd quarter, Holdings Channel reports. The firm owned 4,148 shares of the basic materials company’s stock after purchasing an additional 148 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Nucor were worth $537,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Matrix Trust Co raised its holdings in shares of Nucor by 53.8% in the second quarter. Matrix Trust Co now owns 240 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 84 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Nucor by 81.8% in the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 153 shares in the last quarter. Spirit of America Management Corp NY bought a new stake in shares of Nucor in the first quarter valued at about $48,000. Meeder Asset Management Inc. raised its holdings in shares of Nucor by 209.6% in the first quarter. Meeder Asset Management Inc. now owns 418 shares of the basic materials company’s stock valued at $50,000 after acquiring an additional 283 shares in the last quarter. Finally, Putney Financial Group LLC raised its holdings in shares of Nucor by 86.8% in the first quarter. Putney Financial Group LLC now owns 467 shares of the basic materials company’s stock valued at $56,000 after acquiring an additional 217 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors.

Insider Transactions at Nucor

In related news, EVP Allen C. Behr sold 8,021 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $143.38, for a total value of $1,150,050.98. Following the sale, the executive vice president owned 82,703 shares in the company, valued at $11,857,956.14. This represents a 8.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Daniel R. Needham sold 7,200 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $146.00, for a total value of $1,051,200.00. Following the completion of the sale, the executive vice president owned 92,179 shares in the company, valued at approximately $13,458,134. This represents a 7.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,309 shares of company stock worth $4,553,771 in the last ninety days. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NUE. Morgan Stanley lifted their price objective on Nucor from $134.00 to $149.00 and gave the company an “overweight” rating in a report on Friday, June 20th. Jefferies Financial Group upgraded Nucor from a “hold” rating to a “buy” rating and lifted their price objective for the company from $135.00 to $170.00 in a report on Thursday, July 31st. Bank of America boosted their target price on shares of Nucor from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nucor in a report on Wednesday, October 8th. Finally, Wells Fargo & Company reduced their target price on shares of Nucor from $146.00 to $140.00 and set an “equal weight” rating for the company in a report on Thursday, September 18th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Nucor currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.60.

Nucor Price Performance

Shares of NUE stock opened at $133.68 on Monday. Nucor Corporation has a fifty-two week low of $97.59 and a fifty-two week high of $170.52. The firm has a market capitalization of $30.68 billion, a price-to-earnings ratio of 24.13, a PEG ratio of 0.92 and a beta of 1.75. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 2.83. The stock’s 50-day simple moving average is $141.25 and its 200-day simple moving average is $129.33.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, July 28th. The basic materials company reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.06. Nucor had a return on equity of 6.65% and a net margin of 4.21%.The business had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.47 billion. During the same quarter in the previous year, the firm earned $2.68 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. As a group, equities analysts forecast that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be given a $0.55 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.20 dividend on an annualized basis and a yield of 1.6%. Nucor’s dividend payout ratio is currently 39.71%.

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.