10,500 Shares in Nucor Corporation $NUE Bought by Monetta Financial Services Inc.

Key Points

• Monetta Financial Services bought 10,500 Nucor shares worth approximately $2.34 million, making the steelmaker 1.6% of its portfolio. Institutional investors collectively own 76.48% of Nucor.
• Nucor reported quarterly EPS of $4.84, beating estimates of $4.46, while revenue rose 23% year over year to $10.40 billion. The company also maintains a quarterly dividend of $0.56 per share, representing a 0.9% annualized yield.
• Analysts hold a consensus “Moderate Buy” rating with an average price target of $273.31, compared with the reported share price of $248.72.

Monetta Financial Services Inc. purchased a new stake in shares of Nucor Corporation (NYSE:NUE - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 10,500 shares of the basic materials company's stock, valued at approximately $2,339,000. Nucor makes up 1.6% of Monetta Financial Services Inc.'s investment portfolio, making the stock its 15th biggest position.

Several other institutional investors have also recently bought and sold shares of the business. Bell Investment Advisors Inc acquired a new position in shares of Nucor during the second quarter valued at about $28,000. Strive Financial Group LLC purchased a new stake in shares of Nucor in the fourth quarter worth approximately $27,000. Stance Capital LLC bought a new position in shares of Nucor in the third quarter valued at approximately $25,000. Bartlett & CO. Wealth Management LLC boosted its position in shares of Nucor by 49.2% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company's stock valued at $32,000 after buying an additional 63 shares during the last quarter. Finally, Mcguire Capital Advisors Inc. purchased a new position in Nucor during the 4th quarter worth $32,000. Institutional investors and hedge funds own 76.48% of the company's stock.

Nucor Price Performance

Shares of NYSE:NUE opened at $248.72 on Thursday. The firm has a market cap of $56.43 billion, a price-to-earnings ratio of 19.83, a P/E/G ratio of 0.59 and a beta of 1.89. The firm has a fifty day moving average price of $247.72 and a 200 day moving average price of $216.16. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51. Nucor Corporation has a fifty-two week low of $131.32 and a fifty-two week high of $280.11.

Nucor (NYSE:NUE - Get Free Report) last issued its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, beating the consensus estimate of $4.46 by $0.38. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The company had revenue of $10.40 billion for the quarter, compared to the consensus estimate of $10.15 billion. During the same period in the prior year, the firm posted $2.60 EPS. The firm's revenue was up 23.0% compared to the same quarter last year. As a group, sell-side analysts expect that Nucor Corporation will post 17.95 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were paid a $0.56 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. Nucor's payout ratio is 17.86%.

Wall Street Analyst Weigh In

NUE has been the subject of several research analyst reports. Wall Street Zen raised Nucor from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 16th. Zacks Research downgraded shares of Nucor from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 29th. Bank of America decreased their target price on shares of Nucor from $290.00 to $280.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Citigroup reiterated a "buy" rating on shares of Nucor in a research report on Wednesday, July 29th. Finally, BMO Capital Markets boosted their price target on Nucor from $285.00 to $295.00 and gave the company an "outperform" rating in a report on Wednesday, July 29th. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $273.31.

Insider Activity

In other Nucor news, EVP John J. Hollatz sold 10,560 shares of the business's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total value of $2,729,337.60. Following the completion of the transaction, the executive vice president directly owned 97,865 shares in the company, valued at approximately $25,294,187.90. The trade was a 9.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Stephen D. Laxton sold 3,968 shares of the firm's stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the completion of the sale, the chief operating officer owned 77,867 shares of the company's stock, valued at approximately $20,008,704.32. This trade represents a 4.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 18,528 shares of company stock worth $4,793,035. 0.62% of the stock is currently owned by company insiders.

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.

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