Apexium Financial LP Makes New $562,000 Investment in Nucor Corporation $NUE

Key Points

• Apexium Financial LP has acquired 4,668 shares of Nucor Corporation, valued at approximately $562,000, as reported in a Form 13F filing.
• Insider activity shows that Nucor's EVP, Allen C. Behr, sold 8,021 shares worth over $1.15 million, resulting in an 8.84% decrease in their ownership.
• Nucor's earnings report revealed a net margin of 4.21% and earnings per share of $2.60, beating estimates by $0.06 despite a revenue of $8.46 billion that slightly missed expectations.

Apexium Financial LP purchased a new position in Nucor Corporation (NYSE:NUE - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,668 shares of the basic materials company's stock, valued at approximately $562,000.

Other hedge funds have also recently modified their holdings of the company. Highline Wealth Partners LLC boosted its stake in Nucor by 2.6% during the 1st quarter. Highline Wealth Partners LLC now owns 3,512 shares of the basic materials company's stock worth $423,000 after purchasing an additional 90 shares during the period. Dorsey & Whitney Trust CO LLC grew its holdings in Nucor by 2.2% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 4,247 shares of the basic materials company's stock worth $511,000 after acquiring an additional 93 shares during the period. Diligent Investors LLC increased its holdings in shares of Nucor by 4.6% in the 1st quarter. Diligent Investors LLC now owns 2,296 shares of the basic materials company's stock valued at $276,000 after purchasing an additional 102 shares in the last quarter. Denali Advisors LLC increased its holdings in Nucor by 2.5% in the first quarter. Denali Advisors LLC now owns 4,117 shares of the basic materials company's stock valued at $495,000 after buying an additional 102 shares in the last quarter. Finally, Horizon Advisory Services Inc. raised its holdings in Nucor by 6.1% during the first quarter. Horizon Advisory Services Inc. now owns 1,962 shares of the basic materials company's stock worth $236,000 after purchasing an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company's stock.

Insider Buying and Selling at Nucor

In other news, 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 transaction 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 represents a 8.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael D. Keller sold 6,088 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $148.41, for a total value of $903,520.08. Following the completion of the sale, the insider owned 22,464 shares of the company's stock, valued at approximately $3,333,882.24. This trade represents a 21.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,397 shares of company stock valued at $6,763,814. Company insiders own 0.46% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on NUE. JPMorgan Chase & Co. increased their target price on Nucor from $143.00 to $162.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Jefferies Financial Group upgraded Nucor from a "hold" rating to a "buy" rating and upped their price objective for the stock from $135.00 to $170.00 in a report on Thursday, July 31st. BMO Capital Markets raised shares of Nucor from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $140.00 to $145.00 in a research report on Monday, June 2nd. UBS Group reduced their price target on Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Finally, Wall Street Zen cut Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Nucor presently has an average rating of "Moderate Buy" and a consensus price target of $155.78.

Nucor Trading Down 0.3%

NYSE NUE traded down $0.48 on Thursday, hitting $149.85. 1,082,897 shares of the stock were exchanged, compared to its average volume of 1,329,783. The company has a market capitalization of $34.40 billion, a price-to-earnings ratio of 24.73, a P/E/G ratio of 0.96 and a beta of 1.74. Nucor Corporation has a 52-week low of $97.59 and a 52-week high of $170.52. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.83 and a quick ratio of 1.51. The company's 50-day moving average price is $140.21 and its two-hundred day moving average price is $127.90.

Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The basic materials company reported $2.60 EPS for the quarter, topping the consensus estimate of $2.54 by $0.06. Nucor had a net margin of 4.21% and a return on equity of 6.65%. The business had revenue of $8.46 billion during the quarter, compared to analysts' expectations of $8.47 billion. During the same period last year, the company posted $2.68 earnings per share. The firm's quarterly revenue was up 4.7% compared to the same quarter last year. Research analysts predict that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, June 30th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, June 30th. Nucor's payout ratio is presently 39.71%.

About Nucor

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.