1ST Source Bank Buys Shares of 6,780 Nucor Corporation $NUE

Key Points

• 1ST Source Bank acquired 6,780 Nucor shares during the second quarter, valued at approximately $1.51 million. Institutional investors and hedge funds 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 $0.56 quarterly dividend, representing a 0.8% yield.
• Analysts remain broadly positive, with 12 Buy ratings and four Holds, producing a “Moderate Buy” consensus and an average price target of $273.31. Meanwhile, company insiders sold 18,528 shares worth approximately $4.79 million during the last quarter.

1ST Source Bank bought a new position in shares of Nucor Corporation (NYSE:NUE - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 6,780 shares of the basic materials company's stock, valued at approximately $1,510,000.

A number of other institutional investors have also made changes to their positions in the business. Stance Capital LLC bought a new stake in shares of Nucor during the third quarter worth approximately $25,000. Strive Financial Group LLC acquired a new stake in shares of Nucor during the fourth quarter worth $27,000. Motiv8 Investments LLC bought a new stake in shares of Nucor in the fourth quarter valued at about $32,000. Bartlett & CO. Wealth Management LLC raised its stake in Nucor by 49.2% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company's stock worth $32,000 after purchasing an additional 63 shares in the last quarter. Finally, Mcguire Capital Advisors Inc. bought a new stake in Nucor in the 4th quarter valued at about $32,000. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor Stock Down 0.3%

Shares of Nucor stock opened at $268.11 on Monday. Nucor Corporation has a one year low of $131.32 and a one year high of $280.11. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.36. The stock's 50-day moving average is $247.15 and its 200 day moving average is $214.33. The firm has a market cap of $60.83 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 0.60 and a beta of 1.89.

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

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.24 annualized dividend and a dividend yield of 0.8%. Nucor's payout ratio is presently 17.86%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NUE. Bank of America cut their price objective on shares of Nucor from $290.00 to $280.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. UBS Group boosted their price target on Nucor from $224.00 to $256.00 and gave the stock a "neutral" rating in a report on Tuesday, July 28th. Wall Street Zen upgraded shares of Nucor from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 16th. Barclays lifted their price target on shares of Nucor from $272.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 29th. Finally, BMO Capital Markets boosted their price objective on shares of Nucor from $285.00 to $295.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 29th. Twelve investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $273.31.

Insider Buying and Selling

In related news, COO Stephen D. Laxton sold 3,968 shares of the firm's stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $256.96, for a total value of $1,019,617.28. Following the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas J. Batterbee sold 4,000 shares of Nucor stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $261.02, for a total value of $1,044,080.00. Following the transaction, the executive vice president owned 16,138 shares of the company's stock, valued at $4,212,340.76. This trade represents a 19.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 18,528 shares of company stock worth $4,793,035 in the last quarter. Insiders own 0.62% of the company's stock.

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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