8,397 Nucor Corporation $NUE Shares Acquired by Kestra Advisory Services LLC

Kestra Advisory Services LLC grew its position in shares of Nucor Corporation (NYSE:NUE) by 31.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 35,359 shares of the basic materials company’s stock after buying an additional 8,397 shares during the quarter. Kestra Advisory Services LLC’s holdings in Nucor were worth $8,265,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Tidal Investments LLC increased its holdings in Nucor by 31.2% during the second quarter. Tidal Investments LLC now owns 61,952 shares of the basic materials company’s stock worth $13,800,000 after buying an additional 14,736 shares during the last quarter. California Public Employees Retirement System grew its holdings in Nucor by 19.3% during the first quarter. California Public Employees Retirement System now owns 510,331 shares of the basic materials company’s stock valued at $86,297,000 after purchasing an additional 82,668 shares during the period. Oppenheimer Asset Management Inc. bought a new position in shares of Nucor during the 2nd quarter worth $7,954,000. BIP Wealth LLC purchased a new stake in Nucor in the 2nd quarter worth about $852,000. Finally, Bank of New York Mellon Corp raised its stake in Nucor by 1.7% in the 1st quarter. Bank of New York Mellon Corp now owns 1,809,899 shares of the basic materials company’s stock valued at $306,054,000 after acquiring an additional 29,476 shares during the period. 76.48% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Nucor

In other Nucor news, EVP Allen C. Behr sold 11,846 shares of the company’s stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $272.90, for a total value of $3,232,773.40. Following the completion of the sale, the executive vice president owned 58,022 shares of the company’s stock, valued at $15,834,203.80. This represents a 16.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Noah Hanners sold 5,190 shares of the stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $275.03, for a total transaction of $1,427,405.70. Following the transaction, the executive vice president owned 44,073 shares in the company, valued at $12,121,397.19. The trade was a 10.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 28,732 shares of company stock worth $7,881,287. 0.62% of the stock is owned by corporate insiders.

Nucor Trading Up 3.0%

Shares of Nucor stock opened at $256.72 on Wednesday. Nucor Corporation has a 1 year low of $141.33 and a 1 year high of $287.70. The company has a 50 day simple moving average of $255.28 and a two-hundred day simple moving average of $226.38. The firm has a market cap of $58.24 billion, a PE ratio of 16.34, a PEG ratio of 0.61 and a beta of 1.81. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.43.

Nucor (NYSE:NUE) last released its earnings results on Monday, October 26th. The basic materials company reported $5.80 EPS for the quarter, missing analysts’ consensus estimates of $5.84 by ($0.04). Nucor had a net margin of 9.26% and a return on equity of 15.53%. The firm had revenue of $11.25 billion during the quarter, compared to the consensus estimate of $10.84 billion. During the same period in the prior year, the company earned $2.63 EPS. The firm’s revenue was up 32.0% compared to the same quarter last year. Analysts expect that Nucor Corporation will post 19.63 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 10th. Investors of record on Wednesday, September 30th were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, September 30th. Nucor’s dividend payout ratio (DPR) is currently 14.26%.

Analyst Ratings Changes

NUE has been the topic of several research reports. Zacks Research raised shares of Nucor from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 13th. Cfra raised Nucor from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 4th. Wedbush set a $304.00 price objective on shares of Nucor in a research report on Monday, November 2nd. Piper Sandler set a $304.00 target price on shares of Nucor in a research note on Friday, October 30th. Finally, Citigroup restated a “buy” rating on shares of Nucor in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $287.38.

Nucor Profile

Nucor Corporation is a U.S.-based steel and steel products manufacturer. Its steel mills produce sheet, plate, bar, structural steel and reinforcing bar used in construction, manufacturing, transportation and other industries. The company also makes downstream products such as steel joists, decking, fasteners, wire products and metal building components. Its operations include recycling ferrous scrap and producing direct reduced iron, materials used in steelmaking. Nucor traces its roots to 1905 and developed into a steel producer during the mid-20th century.