Waterway Wealth Management LLC Purchases 264 Shares of Nucor Co. (NYSE:NUE)

Waterway Wealth Management LLC lifted its position in shares of Nucor Co. (NYSE:NUE) by 7.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,740 shares of the basic materials company’s stock after purchasing an additional 264 shares during the period. Waterway Wealth Management LLC’s holdings in Nucor were worth $562,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NUE. McClarren Financial Advisors Inc. raised its stake in 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 buying 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 worth $27,000 after buying an additional 65 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in Nucor in the first quarter worth about $28,000. Brown Lisle Cummings Inc. bought a new position in Nucor in the third quarter worth about $30,000. Finally, Salomon & Ludwin LLC bought a new position in Nucor in the first quarter worth about $31,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Trading Down 1.3 %

Shares of NUE stock opened at $156.11 on Tuesday. Nucor Co. has a 12-month low of $133.42 and a 12-month high of $203.00. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26. The firm’s 50 day moving average is $147.74 and its 200 day moving average is $159.90. The stock has a market capitalization of $37.43 billion, a P/E ratio of 9.18 and a beta of 1.55.

Nucor (NYSE:NUE) last issued its earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, topping 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 company had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $7.69 billion. During the same quarter last year, the company posted $5.81 earnings per share. The firm’s quarterly revenue was down 15.2% on a year-over-year basis. Research analysts expect that Nucor Co. will post 9.08 earnings per share for the current year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.38%. The ex-dividend date is Friday, September 27th. Nucor’s dividend payout ratio is currently 12.71%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Argus raised shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. decreased their target price on shares of Nucor from $174.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Bank of America decreased their target price on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Morgan Stanley decreased their target price on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, September 18th. Finally, BMO Capital Markets decreased their target price on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday, September 18th. Three 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $191.43.

Insider Transactions at Nucor

In other 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 transaction of $1,379,840.00. Following the transaction, the executive vice president now owns 99,049 shares in the company, valued at $15,847,840. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

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.