Financial Partners Group LLC Buys 1,301 Shares of Nucor Co. (NYSE:NUE)

Financial Partners Group LLC boosted its stake in shares of Nucor Co. (NYSE:NUE) by 10.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,555 shares of the basic materials company’s stock after acquiring an additional 1,301 shares during the period. Nucor accounts for 0.8% of Financial Partners Group LLC’s portfolio, making the stock its 29th largest holding. Financial Partners Group LLC’s holdings in Nucor were worth $2,038,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP lifted its position in shares of Nucor by 188.6% in the fourth quarter. Wellington Management Group LLP now owns 64,537 shares of the basic materials company’s stock worth $11,232,000 after buying an additional 42,178 shares in the last quarter. Brookstone Capital Management raised its holdings in shares of Nucor by 19.4% during the 1st quarter. Brookstone Capital Management now owns 2,325 shares of the basic materials company’s stock worth $460,000 after acquiring an additional 378 shares in the last quarter. Hennessy Advisors Inc. grew its holdings in shares of Nucor by 7.2% in the first quarter. Hennessy Advisors Inc. now owns 16,400 shares of the basic materials company’s stock valued at $3,246,000 after purchasing an additional 1,100 shares in the last quarter. Artemis Investment Management LLP bought a new stake in Nucor in the first quarter worth $7,335,000. Finally, Register Financial Advisors LLC purchased a new stake in Nucor during the first quarter valued at $119,000. 76.48% of the stock is currently owned by institutional investors.

Insider Transactions at Nucor

In related news, EVP Daniel R. Needham sold 8,624 shares of Nucor stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the transaction, the executive vice president now directly owns 99,049 shares of the company’s stock, valued at $15,847,840. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NUE shares. BMO Capital Markets reduced their target price on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday, September 18th. Argus raised Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Morgan Stanley lowered their price objective on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. cut their target price on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research report on Wednesday. Three 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $190.57.

Nucor Stock Down 0.2 %

Shares of NUE opened at $141.34 on Friday. The firm has a fifty day moving average price of $147.81 and a 200-day moving average price of $159.39. The company has a current ratio of 2.59, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $33.55 billion, a P/E ratio of 13.66 and a beta of 1.55. Nucor Co. has a 12-month low of $133.42 and a 12-month high of $203.00.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.09. The company 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%. The firm’s quarterly revenue was down 15.2% on a year-over-year basis. During the same period in the previous year, the company earned $4.57 EPS. Equities research analysts expect that Nucor Co. will post 9.08 earnings per share for the current year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be issued a $0.54 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.53%. Nucor’s dividend payout ratio is currently 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.