Nucor Co. (NUE) Shares Bought by HM Payson & Co.

HM Payson & Co. increased its position in Nucor Co. (NYSE:NUE) by 6.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 3,525 shares of the basic materials company’s stock after purchasing an additional 229 shares during the period. HM Payson & Co.’s holdings in Nucor were worth $224,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of NUE. Willingdon Wealth Management grew its stake in shares of Nucor by 2.6% during the second quarter. Willingdon Wealth Management now owns 31,266 shares of the basic materials company’s stock valued at $1,954,000 after buying an additional 802 shares during the last quarter. Peninsula Asset Management Inc. grew its stake in shares of Nucor by 3.0% during the third quarter. Peninsula Asset Management Inc. now owns 29,475 shares of the basic materials company’s stock valued at $1,870,000 after buying an additional 865 shares during the last quarter. Commerce Bank grew its stake in shares of Nucor by 9.5% during the third quarter. Commerce Bank now owns 10,123 shares of the basic materials company’s stock valued at $642,000 after buying an additional 877 shares during the last quarter. Keybank National Association OH grew its stake in shares of Nucor by 3.0% during the second quarter. Keybank National Association OH now owns 31,382 shares of the basic materials company’s stock valued at $1,961,000 after buying an additional 907 shares during the last quarter. Finally, Monte Financial Group LLC grew its stake in shares of Nucor by 2.4% during the third quarter. Monte Financial Group LLC now owns 39,652 shares of the basic materials company’s stock valued at $2,516,000 after buying an additional 947 shares during the last quarter. Institutional investors own 76.59% of the company’s stock.

Nucor stock opened at $61.19 on Tuesday. The company has a quick ratio of 1.69, a current ratio of 3.15 and a debt-to-equity ratio of 0.42. The firm has a market cap of $18.96 billion, a price-to-earnings ratio of 17.43, a P/E/G ratio of 0.67 and a beta of 1.47. Nucor Co. has a twelve month low of $55.55 and a twelve month high of $70.48.

Nucor (NYSE:NUE) last posted its earnings results on Thursday, October 18th. The basic materials company reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.35 by ($0.02). The company had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.64 billion. Nucor had a return on equity of 20.72% and a net margin of 8.79%. The firm’s quarterly revenue was up 30.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.83 EPS. Analysts anticipate that Nucor Co. will post 7.56 earnings per share for the current fiscal year.

Nucor announced that its Board of Directors has approved a stock repurchase plan on Thursday, September 6th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the basic materials company to buy up to 10% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Monday, February 11th. Shareholders of record on Monday, December 31st will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, December 28th. This represents a $1.60 dividend on an annualized basis and a yield of 2.61%. This is a positive change from Nucor’s previous quarterly dividend of $0.38. Nucor’s dividend payout ratio is currently 43.30%.

A number of research analysts have recently commented on NUE shares. KeyCorp reaffirmed a “buy” rating and set a $72.00 target price on shares of Nucor in a research note on Friday. UBS Group set a $63.00 target price on Nucor and gave the company a “hold” rating in a research note on Tuesday, November 27th. Credit Suisse Group reaffirmed a “neutral” rating on shares of Nucor in a research note on Monday, October 15th. Deutsche Bank cut Nucor to a “buy” rating in a research note on Tuesday, October 2nd. Finally, Zacks Investment Research cut Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Nucor presently has an average rating of “Buy” and a consensus price target of $73.00.

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Nucor Profile

Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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; hollow structural section steel tubing, steel electrical conduit, plate steel, and structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, wire rods, and special bar quality; and tubular and plate steel products.

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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