Arjuna Capital Buys 328 Shares of Nucor Co. (NYSE:NUE)

Arjuna Capital grew its stake in Nucor Co. (NYSE:NUE) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,460 shares of the basic materials company’s stock after acquiring an additional 328 shares during the period. Arjuna Capital’s holdings in Nucor were worth $3,677,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. McClarren Financial Advisors Inc. raised its stake 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 worth $25,000 after acquiring an additional 89 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Nucor in the third quarter valued at approximately $26,000. Brown Lisle Cummings Inc. acquired a new position in Nucor in the third quarter valued at approximately $30,000. HHM Wealth Advisors LLC grew its holdings in Nucor by 769.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 200 shares during the period. Finally, Salomon & Ludwin LLC raised its position in shares of Nucor by 45.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 72 shares during the last quarter. 76.48% of the stock is owned by institutional investors.

Nucor Stock Down 1.0 %

NUE stock traded down $1.59 during mid-day trading on Wednesday, hitting $152.30. 254,365 shares of the company were exchanged, compared to its average volume of 1,538,544. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59. The firm has a market cap of $35.76 billion, a P/E ratio of 14.86 and a beta of 1.55. The firm’s 50 day simple moving average is $148.18 and its 200 day simple moving average is $155.39. Nucor Co. has a 1-year low of $133.42 and a 1-year high of $203.00.

Nucor (NYSE:NUE) last announced its earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.40 by $0.09. The firm had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The business’s quarterly revenue was down 15.2% on a year-over-year basis. During the same period last year, the company posted $4.57 EPS. On average, sell-side analysts predict that Nucor Co. will post 8.6 EPS for the current fiscal year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were paid a dividend of $0.54 per share. The ex-dividend date was Friday, September 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.42%. Nucor’s dividend payout ratio 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 shares were sold at an average price of $146.80, for a total value 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 approximately $14,499,436. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Nucor news, CFO Stephen D. Laxton sold 4,712 shares of Nucor stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total transaction of $798,825.36. Following the completion of the transaction, the chief financial officer now directly owns 82,132 shares of the company’s stock, valued at $13,923,837.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kenneth Rex Query sold 9,000 shares of Nucor 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 transaction, the executive vice president now directly owns 98,770 shares of the company’s stock, valued at approximately $14,499,436. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,712 shares of company stock valued at $3,980,235 in the last ninety days. 0.64% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on NUE shares. Argus raised Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Morgan Stanley cut their price target on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. BMO Capital Markets cut 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. Finally, JPMorgan Chase & Co. cut their price target on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Three 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.57.

Nucor 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.