1,967 Shares in Nucor Corporation $NUE Bought by Chicago Partners Investment Group LLC

Key Points

• Chicago Partners Investment Group LLC acquired 1,967 shares of Nucor Corporation for about $255,000, marking a new position in the company during the second quarter.
• Various hedge funds have increased their holdings in Nucor, with significant purchases noted from Diamond Hill Capital Management and Vanguard Group, leading to institutional investors owning 76.48% of the stock.
• Nucor is set to pay a quarterly dividend of $0.55 on November 10th, which indicates an annualized dividend yield of 1.6% and a payout ratio of 39.71%.

Chicago Partners Investment Group LLC bought a new position in Nucor Corporation (NYSE:NUE - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,967 shares of the basic materials company's stock, valued at approximately $255,000.

Other hedge funds have also modified their holdings of the company. Diamond Hill Capital Management Inc. purchased a new position in shares of Nucor during the first quarter valued at $194,804,000. Nuveen LLC purchased a new position in shares of Nucor during the first quarter valued at $141,216,000. Vanguard Group Inc. grew its holdings in shares of Nucor by 2.6% during the first quarter. Vanguard Group Inc. now owns 28,959,327 shares of the basic materials company's stock valued at $3,484,965,000 after buying an additional 745,671 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Nucor by 355.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 539,310 shares of the basic materials company's stock valued at $72,327,000 after buying an additional 420,970 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Nucor by 18.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,309,452 shares of the basic materials company's stock valued at $277,920,000 after buying an additional 355,364 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NUE has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their price target on Nucor from $146.00 to $140.00 and set an "equal weight" rating on the stock in a report on Thursday, September 18th. JPMorgan Chase & Co. lifted their price target on Nucor from $165.00 to $172.00 and gave the company an "overweight" rating in a report on Monday, October 13th. Weiss Ratings reiterated a "hold (c)" rating on shares of Nucor in a report on Wednesday, October 8th. The Goldman Sachs Group reduced their price objective on Nucor from $182.00 to $173.00 and set a "buy" rating for the company in a research report on Monday, September 22nd. Finally, Bank of America lifted their price objective on Nucor from $150.00 to $165.00 and gave the company a "buy" rating in a research report on Monday, September 15th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $157.60.

Nucor Trading Up 0.2%

Shares of NUE opened at $138.79 on Friday. Nucor Corporation has a 12-month low of $97.59 and a 12-month high of $170.52. The company has a quick ratio of 1.51, a current ratio of 2.83 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $31.86 billion, a price-to-earnings ratio of 25.05, a P/E/G ratio of 0.98 and a beta of 1.75. The stock's 50-day moving average price is $140.44 and its 200 day moving average price is $130.73.

Nucor (NYSE:NUE - Get Free Report) last posted its quarterly 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 company had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.47 billion. During the same quarter in the prior year, the business posted $2.68 EPS. The firm's quarterly revenue was up 4.7% on a year-over-year basis. As a group, research analysts predict that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be given a $0.55 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.6%. Nucor's dividend payout ratio is currently 39.71%.

Insider Activity

In related news, EVP Kenneth Rex Query sold 10,000 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $144.90, for a total value of $1,449,000.00. Following the completion of the sale, the executive vice president owned 84,080 shares in the company, valued at $12,183,192. This represents a 10.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Allen C. Behr sold 8,021 shares of the stock in a transaction dated 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 transaction, the executive vice president owned 82,703 shares of the company's stock, valued at approximately $11,857,956.14. This trade represents a 8.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,309 shares of company stock worth $4,553,771 in the last 90 days. Corporate insiders own 0.46% of the company's stock.

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.

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