Ullmann Wealth Partners Group LLC Purchases New Shares in Nucor Co. (NYSE:NUE)

Ullmann Wealth Partners Group LLC acquired a new stake in Nucor Co. (NYSE:NUE) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,529 shares of the basic materials company’s stock, valued at approximately $831,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in Nucor by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,909,388 shares of the basic materials company’s stock valued at $617,915,000 after acquiring an additional 84,558 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Nucor by 29.7% in the second quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock valued at $456,030,000 after acquiring an additional 660,866 shares during the period. Legal & General Group Plc lifted its holdings in Nucor by 3.2% in the second quarter. Legal & General Group Plc now owns 2,160,803 shares of the basic materials company’s stock valued at $341,580,000 after acquiring an additional 67,974 shares during the period. Nordea Investment Management AB increased its position in shares of Nucor by 6.5% in the first quarter. Nordea Investment Management AB now owns 1,165,094 shares of the basic materials company’s stock valued at $230,572,000 after buying an additional 70,917 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Nucor by 11.6% in the second quarter. Hsbc Holdings PLC now owns 1,069,920 shares of the basic materials company’s stock valued at $169,433,000 after buying an additional 111,177 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insiders Place Their Bets

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of Nucor stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 99,049 shares of the company’s stock, valued at $15,847,840. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.46% of the company’s stock.

Nucor Stock Performance

Shares of NYSE:NUE traded down $1.20 during mid-day trading on Tuesday, reaching $151.64. The company had a trading volume of 1,842,993 shares, compared to its average volume of 1,464,345. The company’s 50-day moving average price is $146.72 and its 200-day moving average price is $161.43. 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 Co. has a one year low of $133.42 and a one year high of $203.00. The firm has a market cap of $36.36 billion, a price-to-earnings ratio of 8.92 and a beta of 1.55.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.37. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The business had revenue of $8.08 billion during the quarter, compared to analyst estimates of $7.69 billion. During the same period in the prior year, the business posted $5.81 earnings per share. The company’s revenue was down 15.2% on a year-over-year basis. As a group, equities research analysts anticipate that Nucor Co. will post 9.1 EPS for the current fiscal year.

Nucor Dividend Announcement

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. The ex-dividend date is Friday, September 27th. This represents a $2.16 annualized dividend and a yield of 1.42%. Nucor’s payout ratio is presently 12.71%.

Analysts Set New Price Targets

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

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.