194 Shares in Nucor Co. (NYSE:NUE) Purchased by Coastline Trust Co

Coastline Trust Co purchased a new stake in shares of Nucor Co. (NYSE:NUE) in the third quarter, according to the company in its most recent filing with the SEC. The fund purchased 194 shares of the basic materials company’s stock, valued at approximately $29,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. McClarren Financial Advisors Inc. grew its holdings in Nucor by 129.0% during the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock worth $25,000 after buying an additional 89 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Nucor during the third quarter valued at about $26,000. Brown Lisle Cummings Inc. bought a new stake in Nucor in the 3rd quarter worth about $30,000. Salomon & Ludwin LLC increased its stake in Nucor by 45.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock valued at $35,000 after buying an additional 72 shares during the last quarter. Finally, HHM Wealth Advisors LLC lifted its position in shares of Nucor by 769.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock worth $36,000 after buying an additional 200 shares in the last quarter. 76.48% of the stock is owned by institutional investors.

Nucor Stock Up 0.5 %

NUE opened at $147.08 on Monday. The company has a 50 day moving average of $148.88 and a 200 day moving average of $154.87. 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 Co. has a 12 month low of $133.42 and a 12 month high of $203.00. The company has a market cap of $34.54 billion, a PE ratio of 14.21 and a beta of 1.55.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share 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 return on equity of 12.06% and a net margin of 8.05%. The firm’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same period in the previous year, the business earned $4.57 earnings per share. On average, sell-side analysts expect that Nucor Co. will post 8.52 EPS for the current year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Friday, September 27th. Nucor’s payout ratio is 20.87%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NUE. BMO Capital Markets reduced their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. Morgan Stanley lowered their target price on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their price objective on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, Argus upgraded shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Nucor presently has an average rating of “Moderate Buy” and an average target price of $190.57.

Insider Activity

In related news, EVP Allen C. Behr sold 4,968 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $159.72, for a total value of $793,488.96. Following the sale, the executive vice president now owns 85,376 shares in the company, valued at approximately $13,636,254.72. This trade represents a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Kenneth Rex Query sold 9,000 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total value 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. The trade was a 8.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,680 shares of company stock worth $4,773,724. 0.46% of the stock is owned by company insiders.

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.