Unison Advisors LLC Acquires 220 Shares of Nucor Corporation $NUE

Unison Advisors LLC raised its holdings in Nucor Corporation (NYSE:NUE) by 0.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,653 shares of the basic materials company’s stock after purchasing an additional 220 shares during the quarter. Nucor accounts for 0.6% of Unison Advisors LLC’s investment portfolio, making the stock its 21st largest position. Unison Advisors LLC’s holdings in Nucor were worth $5,549,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. GAMMA Investing LLC grew its position in Nucor by 48.6% during the first quarter. GAMMA Investing LLC now owns 4,203 shares of the basic materials company’s stock valued at $506,000 after buying an additional 1,375 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Nucor by 21.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 101,459 shares of the basic materials company’s stock worth $12,210,000 after acquiring an additional 17,861 shares during the period. Kingswood Wealth Advisors LLC boosted its stake in Nucor by 25.6% in the first quarter. Kingswood Wealth Advisors LLC now owns 4,179 shares of the basic materials company’s stock valued at $501,000 after acquiring an additional 852 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of Nucor by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 27,510 shares of the basic materials company’s stock valued at $3,310,000 after acquiring an additional 735 shares during the period. Finally, Blue Trust Inc. grew its position in shares of Nucor by 16.8% during the 1st quarter. Blue Trust Inc. now owns 1,022 shares of the basic materials company’s stock valued at $123,000 after acquiring an additional 147 shares during the period. 76.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on NUE shares. Bank of America upped their price objective on Nucor from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nucor in a research report on Wednesday, October 8th. Jefferies Financial Group upgraded Nucor from a “hold” rating to a “buy” rating and increased their price target for the stock from $135.00 to $170.00 in a research note on Thursday, July 31st. The Goldman Sachs Group lowered their price objective on Nucor from $182.00 to $173.00 and set a “buy” rating on the stock in a research note on Monday, September 22nd. Finally, Wells Fargo & Company dropped their price objective on shares of Nucor from $146.00 to $140.00 and set an “equal weight” rating on the stock in a report on Thursday, September 18th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $157.60.

Nucor Stock Performance

NYSE:NUE opened at $131.70 on Monday. The business’s fifty day moving average is $140.92 and its 200 day moving average is $129.90. The firm has a market cap of $30.23 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 0.94 and a beta of 1.75. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 2.83. Nucor Corporation has a 52-week low of $97.59 and a 52-week high of $170.52.

Nucor (NYSE:NUE) last posted its earnings results on Monday, July 28th. The basic materials company reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.06. Nucor had a return on equity of 6.65% and a net margin of 4.21%.The business had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.47 billion. During the same quarter in the previous year, the firm earned $2.68 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Research analysts predict that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 30th. Nucor’s dividend payout ratio is 39.71%.

Insider Activity

In related news, EVP Allen C. Behr sold 8,021 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $143.38, for a total value of $1,150,050.98. Following the sale, the executive vice president owned 82,703 shares in the company, valued at approximately $11,857,956.14. This trade represents a 8.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael D. Keller sold 6,088 shares of Nucor stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $148.41, for a total value of $903,520.08. Following the sale, the insider directly owned 22,464 shares of the company’s stock, valued at $3,333,882.24. This represents a 21.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,309 shares of company stock valued at $4,553,771. 0.71% of the stock is owned by company insiders.

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.