Pittenger & Anderson Inc. Acquires 18,800 Shares of Nucor Corporation $NUE

by · The Cerbat Gem

Pittenger & Anderson Inc. lifted its holdings in shares of Nucor Corporation (NYSE:NUE – Free Report) by 930.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,820 shares of the basic materials company’s stock after acquiring an additional 18,800 shares during the period. Pittenger & Anderson Inc.’s holdings in Nucor were worth $2,820,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in NUE. IMA Advisory Services Inc. raised its stake in shares of Nucor by 51.4% in the second quarter. IMA Advisory Services Inc. now owns 221 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 75 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in Nucor in the 2nd quarter valued at $39,000. Salomon & Ludwin LLC raised its position in Nucor by 45.5% in the 3rd quarter. Salomon & Ludwin LLC now owns 320 shares of the basic materials company’s stock valued at $44,000 after buying an additional 100 shares during the last quarter. Root Financial Partners LLC bought a new position in Nucor during the 3rd quarter valued at $44,000. Finally, Geneos Wealth Management Inc. boosted its holdings in Nucor by 81.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 153 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on NUE. Weiss Ratings reiterated a “hold (c)” rating on shares of Nucor in a report on Monday, December 29th. UBS Group lowered shares of Nucor from a “buy” rating to a “neutral” rating and set a $183.00 price objective for the company. in a research note on Wednesday. BNP Paribas Exane boosted their target price on Nucor from $165.00 to $185.00 and gave the stock an “outperform” rating in a research note on Friday, January 2nd. Morgan Stanley reaffirmed an “equal weight” rating and set a $180.00 price target (up from $165.00) on shares of Nucor in a research report on Friday, January 9th. Finally, Citigroup lifted their price target on Nucor from $150.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $179.36.

View Our Latest Analysis on NUE

Insider Buying and Selling at Nucor

In related news, EVP Allen C. Behr sold 5,950 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $157.89, for a total transaction of $939,445.50. Following the sale, the executive vice president directly owned 67,711 shares in the company, 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 can be accessed through this hyperlink. Also, EVP Thomas J. Batterbee sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $165.28, for a total transaction of $330,560.00. Following the completion of the transaction, the executive vice president directly owned 17,952 shares of the company’s stock, valued at approximately $2,967,106.56. This trade represents a 10.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 14,950 shares of company stock valued at $2,319,166 over the last three months. 0.46% of the stock is currently owned by insiders.

Nucor Trading Down 1.2%

Shares of NUE stock opened at $177.67 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.94 and a debt-to-equity ratio of 0.31. The firm has a market cap of $40.66 billion, a P/E ratio of 23.56, a PEG ratio of 0.98 and a beta of 1.87. The company has a 50 day moving average of $166.44 and a 200-day moving average of $150.62. Nucor Corporation has a 12-month low of $97.59 and a 12-month high of $183.32.

Nucor (NYSE:NUE – Get Free Report) last announced its quarterly earnings data on Monday, January 26th. The basic materials company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $1.91 by ($0.18). The firm had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.93 billion. Nucor had a net margin of 5.37% and a return on equity of 8.26%. Nucor’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the company posted $1.22 earnings per share. Sell-side analysts anticipate 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. Investors of record on Wednesday, December 31st will be paid a $0.56 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $2.24 dividend on an annualized basis and a yield of 1.3%. This is an increase from Nucor’s previous quarterly dividend of $0.55. Nucor’s dividend payout ratio (DPR) is presently 29.71%.

Nucor Company Profile

(Free Report)

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.

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