OneAscent Financial Services LLC Invests $291,000 in Nucor Co. (NYSE:NUE)

OneAscent Financial Services LLC acquired a new stake in Nucor Co. (NYSE:NUE) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 1,933 shares of the basic materials company’s stock, valued at approximately $291,000.

A number of other large investors have also bought and sold shares of NUE. Mizuho Securities USA LLC boosted its holdings in Nucor by 8,530.1% during the third quarter. Mizuho Securities USA LLC now owns 1,595,179 shares of the basic materials company’s stock worth $239,819,000 after purchasing an additional 1,576,695 shares during the last quarter. Pacer Advisors Inc. lifted its position in Nucor by 29.7% during the 2nd quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock worth $456,030,000 after buying an additional 660,866 shares in the last quarter. Ceredex Value Advisors LLC acquired a new position in shares of Nucor during the 3rd quarter worth about $74,829,000. International Assets Investment Management LLC grew its holdings in shares of Nucor by 14,525.9% in the 3rd quarter. International Assets Investment Management LLC now owns 326,889 shares of the basic materials company’s stock valued at $49,144,000 after acquiring an additional 324,654 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its position in shares of Nucor by 25.7% in the third quarter. Thrivent Financial for Lutherans now owns 1,283,111 shares of the basic materials company’s stock valued at $192,902,000 after acquiring an additional 262,493 shares during the last quarter. 76.48% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on NUE shares. JPMorgan Chase & Co. decreased 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 raised shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. BMO Capital Markets lowered their target price 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 cut their price target on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Three equities 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $190.57.

Insider Buying and Selling

In related news, CEO Leon J. Topalian sold 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total value of $1,860,210.00. Following the completion of the sale, the chief executive officer now directly owns 172,136 shares in the company, valued at approximately $29,109,918.96. The trade was a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Stephen D. Laxton sold 4,712 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total value of $798,825.36. Following the transaction, the chief financial officer now owns 82,132 shares in the company, valued at approximately $13,923,837.96. This trade represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,680 shares of company stock valued at $4,773,724. Insiders own 0.64% of the company’s stock.

Nucor Trading Down 1.7 %

NUE stock opened at $144.68 on Wednesday. Nucor Co. has a one year low of $133.42 and a one year high of $203.00. The stock has a market cap of $33.97 billion, a price-to-earnings ratio of 13.98 and a beta of 1.55. The company has a fifty day moving average price of $149.01 and a two-hundred day moving average price of $154.61. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61.

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 business had revenue of $7.44 billion during 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%. Nucor’s revenue was down 15.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.57 EPS. Equities analysts anticipate that Nucor Co. will post 8.52 EPS for the current year.

Nucor Announces Dividend

The company also recently announced 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 of this dividend was Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.49%. Nucor’s dividend payout ratio (DPR) is currently 20.87%.

About Nucor

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.