Custom Index Systems LLC Acquires 2,140 Shares of Nucor Co. (NYSE:NUE)

Custom Index Systems LLC increased its holdings in Nucor Co. (NYSE:NUE) by 98.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,310 shares of the basic materials company’s stock after buying an additional 2,140 shares during the period. Custom Index Systems LLC’s holdings in Nucor were worth $648,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of NUE. Chilton Capital Management LLC lifted its stake in shares of 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 stake in shares of Nucor during the first quarter valued at about $28,000. Salomon & Ludwin LLC purchased a new stake in shares of Nucor during the first quarter valued at about $31,000. McClarren Financial Advisors Inc. grew its position 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 worth $25,000 after buying an additional 89 shares during the last quarter. Finally, Brown Lisle Cummings Inc. bought a new position in shares of Nucor during the 3rd quarter worth approximately $30,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. 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 report on Wednesday. Argus raised Nucor to a “strong-buy” rating in a report on Monday, August 26th. BMO Capital Markets cut their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday, September 18th. Finally, Morgan Stanley lowered their target price on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $190.57.

Nucor Stock Performance

NYSE NUE traded up $0.13 during trading hours on Friday, reaching $141.47. The stock had a trading volume of 1,741,408 shares, compared to its average volume of 1,499,747. Nucor Co. has a 52-week low of $133.42 and a 52-week high of $203.00. The stock has a fifty day moving average of $147.66 and a 200 day moving average of $158.57. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.85 and a current ratio of 2.59. The stock has a market cap of $33.58 billion, a P/E ratio of 13.67 and a beta of 1.55.

Nucor (NYSE:NUE) last released 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 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 revenue for the quarter was down 15.2% on a year-over-year basis. During the same period in the prior year, the firm earned $4.57 EPS. Sell-side analysts predict that Nucor Co. will post 9.08 earnings per share for the current year.

Nucor Announces Dividend

The business 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 dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Friday, September 27th. Nucor’s dividend payout ratio is currently 20.87%.

Insider Buying and Selling at Nucor

In related news, EVP Daniel R. Needham sold 8,624 shares of Nucor stock in a transaction that occurred 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 in the company, valued at approximately $15,847,840. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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.