2,844 Shares in Nucor Co. (NYSE:NUE) Bought by Meridian Wealth Management LLC

Meridian Wealth Management LLC acquired a new position in Nucor Co. (NYSE:NUE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,844 shares of the basic materials company’s stock, valued at approximately $428,000.

A number of other institutional investors have also bought and sold shares of NUE. Dimensional Fund Advisors LP grew its holdings in Nucor by 2.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,909,388 shares of the basic materials company’s stock worth $617,915,000 after acquiring an additional 84,558 shares during the period. Pacer Advisors Inc. grew its holdings in Nucor by 19.8% during the 3rd quarter. Pacer Advisors Inc. now owns 3,456,484 shares of the basic materials company’s stock worth $519,648,000 after acquiring an additional 571,682 shares during the period. Legal & General Group Plc grew its holdings in Nucor by 3.2% during the 2nd quarter. Legal & General Group Plc now owns 2,160,803 shares of the basic materials company’s stock worth $341,580,000 after acquiring an additional 67,974 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Nucor by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,612,216 shares of the basic materials company’s stock worth $242,381,000 after acquiring an additional 45,467 shares during the period. Finally, Mizuho Securities USA LLC grew its holdings 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 worth $239,819,000 after acquiring an additional 1,576,695 shares during the period. Institutional investors own 76.48% of the company’s stock.

Insider Activity at Nucor

In other Nucor news, EVP Kenneth Rex Query sold 9,000 shares of Nucor stock in a transaction that occurred on 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 $14,499,436. This trade represents a 8.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Leon J. Topalian sold 11,000 shares of Nucor stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the transaction, the chief executive officer now directly owns 172,136 shares in the company, valued at approximately $29,109,918.96. This represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,680 shares of company stock valued at $4,773,724. 0.46% of the stock is owned by corporate insiders.

Nucor Price Performance

Shares of NYSE NUE opened at $151.92 on Monday. Nucor Co. has a fifty-two week low of $133.42 and a fifty-two week high of $203.00. The stock has a market cap of $35.67 billion, a price-to-earnings ratio of 14.68 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59. The firm’s 50-day simple moving average is $149.67 and its 200 day simple moving average is $153.96.

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. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The business had revenue of $7.44 billion for the quarter, compared to analysts’ expectations of $7.28 billion. During the same quarter last year, the firm earned $4.57 EPS. The firm’s revenue for the quarter was down 15.2% compared to the same quarter last year. As a group, research analysts anticipate that Nucor Co. will post 8.52 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were given a $0.54 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.16 annualized dividend and a yield of 1.42%. Nucor’s payout ratio is 20.87%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NUE. JPMorgan Chase & Co. decreased their price target on Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. BMO Capital Markets decreased their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. Argus upgraded Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Finally, Morgan Stanley reduced their target price on Nucor from $170.00 to $166.00 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 issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Nucor currently has an average rating of “Moderate Buy” and an average price target of $190.57.

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.