Mirador Capital Partners LP Acquires 77 Shares of Nucor Co. (NYSE:NUE)

Mirador Capital Partners LP raised its stake in Nucor Co. (NYSE:NUE) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,250 shares of the basic materials company’s stock after buying an additional 77 shares during the quarter. Mirador Capital Partners LP’s holdings in Nucor were worth $789,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in NUE. Pacer Advisors Inc. increased its holdings in Nucor by 29.7% during the 2nd quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock worth $456,030,000 after purchasing an additional 660,866 shares in the last quarter. Global Assets Advisory LLC bought a new stake in Nucor in the 1st quarter valued at approximately $90,216,000. Swedbank AB acquired a new position in Nucor during the 1st quarter worth approximately $37,395,000. Captrust Financial Advisors raised its holdings in shares of Nucor by 23.5% in the first quarter. Captrust Financial Advisors now owns 804,150 shares of the basic materials company’s stock valued at $159,141,000 after purchasing an additional 153,077 shares during the last quarter. Finally, Trinity Street Asset Management LLP bought a new stake in shares of Nucor in the second quarter worth $19,213,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Activity at Nucor

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the stock in a transaction on Wednesday, July 31st. The stock was 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 owns 99,049 shares in the company, valued at $15,847,840. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Morgan Stanley lowered their price target on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 18th. Bank of America dropped their target price on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. BMO Capital Markets reduced their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research report on Wednesday, September 18th. Argus upgraded shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Finally, JPMorgan Chase & Co. upgraded shares of Nucor from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $170.00 to $174.00 in a research note on Monday, September 9th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $192.00.

Nucor Stock Performance

Shares of NYSE:NUE traded up $0.15 on Friday, hitting $151.44. The company had a trading volume of 1,036,214 shares, compared to its average volume of 1,466,837. The stock has a market cap of $36.31 billion, a price-to-earnings ratio of 8.91 and a beta of 1.55. The stock has a 50 day moving average price of $147.33 and a 200 day moving average price of $163.72. Nucor Co. has a 1-year low of $133.42 and a 1-year high of $203.00. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.37. The business had revenue of $8.08 billion for the quarter, compared to analyst estimates of $7.69 billion. Nucor had a net margin of 10.45% and a return on equity of 15.69%. Nucor’s quarterly revenue was down 15.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.81 EPS. Analysts expect that Nucor Co. will post 9.28 EPS for the current year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 annualized dividend and a yield of 1.43%. Nucor’s payout ratio is currently 12.71%.

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.