Nucor Co. (NYSE:NUE) Shares Acquired by Pacer Advisors Inc.

Pacer Advisors Inc. lifted its position in Nucor Co. (NYSE:NUE) by 29.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,884,802 shares of the basic materials company’s stock after purchasing an additional 660,866 shares during the quarter. Nucor makes up 1.0% of Pacer Advisors Inc.’s investment portfolio, making the stock its 18th biggest holding. Pacer Advisors Inc. owned about 1.20% of Nucor worth $456,030,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. boosted its holdings in shares of Nucor by 129.0% in the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 89 shares during the period. Rise Advisors LLC acquired a new stake in Nucor during the 1st quarter worth $27,000. Chilton Capital Management LLC grew its position in Nucor by 94.2% during the 1st quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 65 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in Nucor during the 1st quarter worth $28,000. Finally, Tompkins Financial Corp increased its stake in Nucor by 208.0% in the first quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 104 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on NUE. Argus raised Nucor to a “strong-buy” rating in a report on Monday, August 26th. Bank of America lowered their target price on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. BMO Capital Markets dropped their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday. Morgan Stanley decreased their price target on Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. raised shares of Nucor from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $170.00 to $174.00 in a research note on Monday, September 9th. Three investment 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $192.00.

Nucor Trading Down 1.8 %

NYSE:NUE opened at $146.31 on Friday. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.85 and a current ratio of 2.93. The stock has a fifty day moving average price of $149.66 and a two-hundred day moving average price of $166.15. The stock has a market capitalization of $35.08 billion, a price-to-earnings ratio of 8.61 and a beta of 1.55.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.37. The business had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $7.69 billion. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The business’s revenue was down 15.2% compared to the same quarter last year. During the same quarter last year, the firm posted $5.81 EPS. As a group, sell-side analysts anticipate that Nucor Co. will post 9.95 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Friday, September 27th. Nucor’s dividend payout ratio (DPR) is 12.71%.

Insider Buying and Selling

In related news, EVP Daniel R. Needham sold 8,624 shares of Nucor 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 completion of the transaction, the executive vice president now directly owns 99,049 shares of the company’s stock, valued at $15,847,840. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.

Nucor Company 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.