Turtle Creek Wealth Advisors LLC Boosts Stock Position in Nucor Co. (NYSE:NUE)

Turtle Creek Wealth Advisors LLC grew its position in Nucor Co. (NYSE:NUE) by 1.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,210 shares of the basic materials company’s stock after buying an additional 269 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in Nucor were worth $4,241,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in NUE. Mizuho Securities USA LLC increased its position in Nucor by 8,530.1% during 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 buying an additional 1,576,695 shares in the last quarter. Pacer Advisors Inc. grew its holdings 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 acquiring an additional 660,866 shares during the period. Ceredex Value Advisors LLC acquired a new stake in Nucor during the third quarter worth about $74,829,000. International Assets Investment Management LLC grew its holdings in Nucor by 14,525.9% during the third quarter. International Assets Investment Management LLC now owns 326,889 shares of the basic materials company’s stock worth $49,144,000 after acquiring an additional 324,654 shares during the period. Finally, Swedbank AB purchased a new position in Nucor during the first quarter worth approximately $37,395,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. BMO Capital Markets lowered their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 18th. Argus raised Nucor to a “strong-buy” rating in a report on Monday, August 26th. Morgan Stanley cut their price target on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. cut their target price on Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.57.

Nucor Trading Up 0.5 %

Shares of Nucor stock traded up $0.70 during trading hours on Friday, reaching $147.08. 1,519,866 shares of the company’s stock were exchanged, compared to its average volume of 1,549,564. Nucor Co. has a 52-week low of $133.42 and a 52-week high of $203.00. The firm has a market capitalization of $34.54 billion, a price-to-earnings ratio of 14.21 and a beta of 1.55. The company has a fifty day moving average of $148.88 and a 200-day moving average of $154.96. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.09. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The business’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same period in the prior year, the firm posted $4.57 EPS. Sell-side analysts forecast that Nucor Co. will post 8.52 EPS for the current fiscal year.

Nucor Announces Dividend

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

Insider Activity

In other news, EVP Kenneth Rex Query sold 9,000 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 98,770 shares of the company’s stock, valued at approximately $14,499,436. This trade represents a 8.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Stephen D. Laxton sold 4,712 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total transaction of $798,825.36. Following the transaction, the chief financial officer now directly owns 82,132 shares in the company, valued at $13,923,837.96. The trade was a 5.43 % 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 ninety days. Corporate insiders own 0.46% of the company’s stock.

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.