CCM Investment Advisers LLC Increases Position in Nucor Co. (NYSE:NUE)

by · The Cerbat Gem

CCM Investment Advisers LLC grew its position in shares of Nucor Co. (NYSE:NUE – Free Report) by 0.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,911 shares of the basic materials company’s stock after buying an additional 404 shares during the quarter. CCM Investment Advisers LLC’s holdings in Nucor were worth $9,157,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NUE. McClarren Financial Advisors Inc. boosted its position in shares of Nucor by 129.0% during the second 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 period. Rise Advisors LLC acquired a new position in shares of Nucor during the first quarter valued at about $27,000. Chilton Capital Management LLC increased its holdings in shares of Nucor by 94.2% in the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 65 shares during the period. Central Pacific Bank Trust Division acquired a new position in Nucor during the first quarter valued at $28,000. Finally, Tompkins Financial Corp grew its holdings in Nucor by 208.0% during the first quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 104 shares during the period. Institutional investors own 76.48% of the company’s stock.

Analysts Set New Price Targets

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

View Our Latest Report on Nucor

Nucor Stock Performance

Nucor stock opened at $150.90 on Friday. The company has a market cap of $35.81 billion, a price-to-earnings ratio of 10.88 and a beta of 1.55. Nucor Co. has a 12 month low of $133.42 and a 12 month high of $203.00. The stock’s 50-day moving average is $146.75 and its 200-day moving average is $162.61. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85.

Nucor (NYSE:NUE – Get Free Report) last announced its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.37. The business had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $7.69 billion. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The company’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.81 EPS. Equities analysts anticipate that Nucor Co. will post 9.1 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.54 per share. The ex-dividend date is Friday, September 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.43%. Nucor’s dividend payout ratio (DPR) is presently 15.57%.

Insider Buying and Selling

In other news, EVP Daniel R. Needham sold 8,624 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total value of $1,379,840.00. Following the sale, the executive vice president now owns 99,049 shares of the company’s stock, valued at approximately $15,847,840. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is owned by insiders.

Nucor Profile

(Free Report)

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.

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