Veracity Capital LLC Grows Position in Nucor Co. (NYSE:NUE)

Veracity Capital LLC grew its stake in Nucor Co. (NYSE:NUE) by 7.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,577 shares of the basic materials company’s stock after buying an additional 110 shares during the quarter. Veracity Capital LLC’s holdings in Nucor were worth $237,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NUE. Seamount Financial Group Inc. lifted its stake in shares of Nucor by 3.6% during the 3rd quarter. Seamount Financial Group Inc. now owns 2,927 shares of the basic materials company’s stock valued at $440,000 after buying an additional 102 shares in the last quarter. Blue Trust Inc. raised its holdings in Nucor by 58.6% during the third quarter. Blue Trust Inc. now owns 3,197 shares of the basic materials company’s stock valued at $505,000 after acquiring an additional 1,181 shares during the period. Inspire Advisors LLC lifted its position in shares of Nucor by 14.0% in the third quarter. Inspire Advisors LLC now owns 4,999 shares of the basic materials company’s stock valued at $752,000 after acquiring an additional 615 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in Nucor by 5.6% in the 3rd quarter. V Square Quantitative Management LLC now owns 5,352 shares of the basic materials company’s stock worth $805,000 after purchasing an additional 286 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Nucor by 2.9% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 32,256 shares of the basic materials company’s stock worth $4,849,000 after purchasing an additional 907 shares during the period. Institutional investors own 76.48% of the company’s stock.

Nucor Trading Up 0.1 %

Shares of NUE stock opened at $158.24 on Monday. The company has a market cap of $37.94 billion, a PE ratio of 9.31 and a beta of 1.55. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00. The stock’s 50 day simple moving average is $147.44 and its two-hundred day simple moving average is $160.21. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.37. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The company had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $7.69 billion. During the same period last year, the company earned $5.81 earnings per share. Nucor’s revenue was down 15.2% on a year-over-year basis. Research analysts predict that Nucor Co. will post 9.08 earnings per share for the current year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Friday, September 27th. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NUE. BMO Capital Markets reduced their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 18th. Bank of America decreased their price target on shares of Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Morgan Stanley cut their price objective on Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a research report on Wednesday, September 18th. Argus upgraded Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Finally, JPMorgan Chase & Co. cut their price target on Nucor from $174.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Three 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.43.

Insiders Place Their Bets

In other news, EVP Daniel R. Needham sold 8,624 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total value of $1,379,840.00. Following the transaction, the executive vice president now directly owns 99,049 shares in the company, valued at approximately $15,847,840. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.

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.