Nucor Corporation $NUE Stake Lessened by Compass Wealth Management LLC

Compass Wealth Management LLC lessened its holdings in shares of Nucor Corporation (NYSE:NUE) by 16.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,538 shares of the basic materials company’s stock after selling 3,243 shares during the quarter. Compass Wealth Management LLC’s holdings in Nucor were worth $3,866,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Transamerica Financial Advisors LLC acquired a new position in Nucor during the second quarter valued at approximately $25,000. Manning & Napier Advisors LLC purchased a new stake in Nucor during the second quarter worth approximately $27,000. Bell Investment Advisors Inc purchased a new stake in Nucor during the second quarter worth approximately $28,000. GK Wealth Management LLC acquired a new stake in shares of Nucor in the third quarter worth $28,000. Finally, Markowski Investments acquired a new stake in shares of Nucor in the second quarter worth $29,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of Nucor from $285.00 to $280.00 and set an “overweight” rating on the stock in a report on Friday, September 18th. Zacks Research raised shares of Nucor from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 13th. The Goldman Sachs Group lowered their price target on Nucor from $304.00 to $302.00 and set a “buy” rating for the company in a report on Friday, September 18th. BMO Capital Markets raised their price objective on Nucor from $285.00 to $295.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Finally, Morgan Stanley set a $270.00 price objective on Nucor in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $276.86.

Insider Buying and Selling at Nucor

In related news, EVP Thomas Batterbee sold 4,000 shares of Nucor stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the sale, the executive vice president owned 16,138 shares of the company’s stock, valued at $4,212,340.76. The trade was a 19.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Stephen Laxton sold 3,968 shares of the business’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the completion of the transaction, the chief operating officer owned 77,867 shares in the company, valued at $20,008,704.32. This represents a 4.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.62% of the company’s stock.

Nucor Stock Down 2.6%

Shares of NYSE:NUE opened at $257.57 on Friday. The company has a quick ratio of 1.36, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. Nucor Corporation has a 52-week low of $135.59 and a 52-week high of $280.11. The company has a 50 day moving average of $252.78 and a two-hundred day moving average of $241.05. The company has a market capitalization of $58.44 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 0.65 and a beta of 1.84.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.46 by $0.38. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The company had revenue of $10.40 billion for the quarter, compared to analyst estimates of $10.15 billion. During the same quarter last year, the firm posted $2.60 earnings per share. The business’s quarterly revenue was up 23.0% on a year-over-year basis. As a group, analysts forecast that Nucor Corporation will post 19.62 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 10th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Nucor’s dividend payout ratio (DPR) is presently 17.86%.

About Nucor

Nucor Corporation is a steel producer headquartered in Charlotte, North Carolina. Through its operating subsidiaries, the company manufactures steel and steel products for customers in construction, automotive, energy, heavy equipment, transportation and other industrial markets.

Nucor’s operations include electric arc furnace steel mills, which produce carbon, alloy and galvanized steel products. Its product portfolio includes sheet steel, plate, beams, bars, wire and wire mesh, steel joists, deck, piling, fabricated concrete reinforcing steel and other downstream products.