Gladstone Institutional Advisory LLC Purchases 433 Shares of Nucor Co. (NYSE:NUE)

Gladstone Institutional Advisory LLC increased its position in shares of Nucor Co. (NYSE:NUE) by 18.1% in the third quarter, Holdings Channel reports. The institutional investor owned 2,829 shares of the basic materials company’s stock after buying an additional 433 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Nucor were worth $425,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. McClarren Financial Advisors Inc. grew its holdings in shares of Nucor by 129.0% in the 2nd 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 in the last quarter. Chilton Capital Management LLC raised its stake in Nucor by 94.2% in the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after buying an additional 65 shares during the period. Central Pacific Bank Trust Division bought a new position in shares of Nucor during the 1st quarter worth approximately $28,000. Brown Lisle Cummings Inc. bought a new position in shares of Nucor during the 3rd quarter worth approximately $30,000. Finally, Salomon & Ludwin LLC acquired a new position in shares of Nucor during the 1st quarter worth approximately $31,000. Institutional investors own 76.48% of the company’s stock.

Nucor Trading Down 0.7 %

Shares of NUE stock opened at $142.60 on Tuesday. The stock’s fifty day moving average price is $147.40 and its two-hundred day moving average price is $156.20. The company has a market cap of $33.84 billion, a PE ratio of 13.78 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. Nucor Co. has a fifty-two week low of $133.42 and a fifty-two week high of $203.00.

Nucor (NYSE:NUE) last issued its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.09. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The firm had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.28 billion. During the same quarter last year, the business posted $4.57 earnings per share. The company’s quarterly revenue was down 15.2% on a year-over-year basis. Equities analysts predict that Nucor Co. will post 8.65 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently declared 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 1.51%. The ex-dividend date of this dividend is Friday, September 27th. Nucor’s dividend payout ratio (DPR) is currently 20.87%.

Insider Transactions at Nucor

In related news, EVP Kenneth Rex Query sold 9,000 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the completion of the transaction, the executive vice president now directly owns 98,770 shares of the company’s stock, valued at $14,499,436. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.