Guerra Advisors Inc Invests $906,000 in Nucor Corporation $NUE

Guerra Advisors Inc bought a new position in shares of Nucor Corporation (NYSE:NUE) during the third quarter, HoldingsChannel reports. The firm bought 6,688 shares of the basic materials company’s stock, valued at approximately $906,000.

A number of other large investors also recently modified their holdings of NUE. Vanguard Group Inc. raised its position in shares of Nucor by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 29,171,068 shares of the basic materials company’s stock worth $3,778,820,000 after purchasing an additional 211,741 shares during the period. State Street Corp grew its stake in shares of Nucor by 3.1% in the second quarter. State Street Corp now owns 12,501,779 shares of the basic materials company’s stock worth $1,626,321,000 after purchasing an additional 371,911 shares in the last quarter. Berkshire Hathaway Inc acquired a new position in Nucor during the 2nd quarter valued at about $856,792,000. Norges Bank acquired a new position in shares of Nucor during the second quarter valued at approximately $479,858,000. Finally, Nordea Investment Management AB increased its position in shares of Nucor by 2.0% during the 3rd quarter. Nordea Investment Management AB now owns 1,892,423 shares of the basic materials company’s stock valued at $255,155,000 after purchasing an additional 36,323 shares during the period. 76.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NUE. Morgan Stanley reaffirmed an “equal weight” rating and issued a $180.00 price objective (up previously from $165.00) on shares of Nucor in a research note on Friday, January 9th. Wells Fargo & Company raised their target price on Nucor from $176.00 to $184.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 28th. Seaport Research Partners boosted their price objective on shares of Nucor from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Friday. Jefferies Financial Group boosted their target price on Nucor from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Nucor from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, December 5th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $179.36.

Insiders Place Their Bets

In other news, EVP Allen C. Behr sold 5,950 shares of the stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $157.89, for a total value of $939,445.50. Following the completion of the transaction, the executive vice president directly owned 67,711 shares of the company’s stock, valued at approximately $10,690,889.79. This represents a 8.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Thomas J. Batterbee sold 2,000 shares of the stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $165.28, for a total value of $330,560.00. Following the transaction, the executive vice president owned 17,952 shares of the company’s stock, valued at $2,967,106.56. This represents a 10.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 14,950 shares of company stock worth $2,319,166 over the last 90 days. Corporate insiders own 0.71% of the company’s stock.

Nucor Price Performance

Shares of NYSE:NUE opened at $177.67 on Monday. The business has a 50 day moving average price of $166.44 and a 200 day moving average price of $150.79. The company has a market cap of $40.66 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 0.97 and a beta of 1.86. The company has a quick ratio of 1.57, a current ratio of 2.94 and a debt-to-equity ratio of 0.31. Nucor Corporation has a twelve month low of $97.59 and a twelve month high of $183.32.

Nucor (NYSE:NUE) last released its earnings results on Monday, January 26th. The basic materials company reported $1.73 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.18). Nucor had a net margin of 5.37% and a return on equity of 8.26%. The company had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the previous year, the company earned $1.22 earnings per share. Nucor’s revenue for the quarter was up 8.6% compared to the same quarter last year. Research analysts predict that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 11th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.56 per share. This is a boost from Nucor’s previous quarterly dividend of $0.55. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, December 31st. Nucor’s dividend payout ratio (DPR) is presently 29.71%.

Nucor Profile

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value?added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.