CWA Asset Management Group LLC Invests $333,000 in Nucor Co. (NYSE:NUE)

CWA Asset Management Group LLC acquired a new position in shares of Nucor Co. (NYSE:NUE) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,218 shares of the basic materials company’s stock, valued at approximately $333,000.

Other hedge funds also recently modified their holdings of the company. McClarren Financial Advisors Inc. increased its holdings in shares of 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. Brown Lisle Cummings Inc. acquired a new stake in shares of Nucor in the third quarter valued at approximately $30,000. Salomon & Ludwin LLC increased its holdings in shares of Nucor by 45.6% in the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 72 shares in the last quarter. HHM Wealth Advisors LLC increased its holdings in shares of Nucor by 769.2% in the second quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 200 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Nucor in the second quarter valued at approximately $38,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

NUE has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their price objective on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Argus raised shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Morgan Stanley reduced their price objective on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets reduced their price target 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. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Nucor currently has a consensus rating of “Moderate Buy” and an average target price of $190.57.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Kenneth Rex Query sold 9,000 shares of Nucor stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the sale, the executive vice president now directly owns 98,770 shares in the company, valued at approximately $14,499,436. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Nucor news, EVP Kenneth Rex Query sold 9,000 shares of Nucor stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the sale, the executive vice president now directly owns 98,770 shares in the company, valued at approximately $14,499,436. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Leon J. Topalian sold 11,000 shares of the business’s stock in a transaction dated 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 owns 172,136 shares in the company, valued at $29,109,918.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,712 shares of company stock worth $3,980,235. Insiders own 0.46% of the company’s stock.

Nucor Trading Down 3.3 %

NUE opened at $153.84 on Wednesday. The stock has a market capitalization of $36.12 billion, a P/E ratio of 14.86 and a beta of 1.55. Nucor Co. has a 12 month low of $133.42 and a 12 month high of $203.00. The firm’s fifty day simple moving average is $148.18 and its 200 day simple moving average is $155.39. 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 (NYSE:NUE) last posted its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.40 by $0.09. The business had revenue of $7.44 billion for the quarter, compared to analysts’ expectations of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The firm’s revenue was down 15.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.57 EPS. As a group, research analysts anticipate that Nucor Co. will post 8.6 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, September 27th were paid 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 1.40%. Nucor’s payout ratio is currently 20.87%.

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.