Lifeworks Advisors LLC Invests $204,000 in Nucor Co. (NYSE:NUE)

Lifeworks Advisors 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 1,360 shares of the basic materials company’s stock, valued at approximately $204,000.

A number of other large investors have also bought and sold shares of NUE. McClarren Financial Advisors Inc. raised its position in Nucor by 129.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after buying an additional 89 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Nucor during the 3rd quarter worth approximately $26,000. Brown Lisle Cummings Inc. acquired a new stake in shares of Nucor in the third quarter valued at approximately $30,000. HHM Wealth Advisors LLC lifted its position in shares of Nucor by 769.2% in the second quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 200 shares in the last quarter. Finally, Salomon & Ludwin LLC boosted its holdings in Nucor by 45.6% during the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 72 shares during the last quarter. 76.48% of the stock is owned by institutional investors.

Insider Buying and Selling at Nucor

In other news, CEO Leon J. Topalian sold 11,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were 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 owns 172,136 shares of the company’s stock, 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 legal filing with the SEC, which can be accessed through this link. Also, EVP Allen C. Behr sold 4,968 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $159.72, for a total transaction of $793,488.96. Following the transaction, the executive vice president now directly owns 85,376 shares in the company, valued at approximately $13,636,254.72. This represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,680 shares of company stock valued at $4,773,724 in the last three months. 0.46% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NUE shares. Argus upgraded shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. BMO Capital Markets dropped their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday, September 18th. Morgan Stanley decreased their price target on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Nucor currently has a consensus rating of “Moderate Buy” and an average target price of $190.57.

Nucor Stock Performance

NUE opened at $147.08 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. Nucor Co. has a 12-month low of $133.42 and a 12-month high of $203.00. The business has a 50 day moving average of $148.72 and a 200-day moving average of $155.16. The stock has a market cap of $34.54 billion, a price-to-earnings ratio of 14.21 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, topping analysts’ consensus estimates of $1.40 by $0.09. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The firm had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.28 billion. During the same period in the previous year, the business posted $4.57 earnings per share. The company’s revenue for the quarter was down 15.2% compared to the same quarter last year. On average, equities research analysts expect that Nucor Co. will post 8.52 earnings per share for the current year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were paid a $0.54 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.47%. Nucor’s dividend payout ratio (DPR) is currently 20.87%.

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.