69,785 Shares in Nucor Corporation $NUE Acquired by Front Street Capital Management Inc.

Key Points

• Front Street Capital Management acquired 69,785 Nucor shares worth approximately $15.5 million in the second quarter, making Nucor 1.8% of its portfolio. Institutional investors collectively own 76.48% of the company.
• Nucor reported strong quarterly results, with EPS of $4.84 versus the $4.46 consensus estimate and revenue of $10.4 billion, up 23% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $272.38.
• Nucor paid a quarterly dividend of $0.56 per share, equivalent to an annualized $2.24 dividend and a 0.9% yield. Meanwhile, company executives sold a combined 18,528 shares worth about $4.8 million over the past 90 days.

Front Street Capital Management Inc. purchased a new stake in Nucor Corporation (NYSE:NUE - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 69,785 shares of the basic materials company's stock, valued at approximately $15,545,000. Nucor accounts for 1.8% of Front Street Capital Management Inc.'s portfolio, making the stock its 20th largest position.

Several other hedge funds have also added to or reduced their stakes in the business. Manning & Napier Advisors LLC acquired a new position in shares of Nucor in the second quarter valued at $27,000. Bell Investment Advisors Inc acquired a new stake in shares of Nucor during the 2nd quarter worth about $28,000. Strive Financial Group LLC acquired a new stake in shares of Nucor during the 4th quarter worth about $27,000. Stance Capital LLC bought a new stake in shares of Nucor during the 3rd quarter worth about $25,000. Finally, Bartlett & CO. Wealth Management LLC boosted its holdings in shares of Nucor by 49.2% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company's stock worth $32,000 after buying an additional 63 shares during the period. Institutional investors and hedge funds own 76.48% of the company's stock.

Nucor Trading Up 0.3%

Shares of NYSE:NUE opened at $244.32 on Tuesday. The business's 50 day simple moving average is $246.58 and its 200 day simple moving average is $217.46. Nucor Corporation has a 1 year low of $131.32 and a 1 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 company has a market capitalization of $55.43 billion, a P/E ratio of 19.48, a P/E/G ratio of 0.90 and a beta of 1.89.

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

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders 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 annualized dividend and a dividend yield of 0.9%. Nucor's dividend payout ratio is presently 17.86%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Jefferies Financial Group upped their price target on shares of Nucor from $225.00 to $250.00 and gave the company a "buy" rating in a research note on Tuesday, April 28th. JPMorgan Chase & Co. boosted their price target on Nucor from $240.00 to $282.00 and gave the company an "overweight" rating in a research note on Wednesday, June 10th. KeyCorp upgraded Nucor from a "sector weight" rating to an "overweight" rating and set a $274.00 price target for the company in a research note on Wednesday, June 24th. Bank of America decreased their price objective on Nucor from $290.00 to $280.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Finally, Wall Street Zen upgraded Nucor from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 16th. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $272.38.

Insider Transactions at Nucor

In other news, EVP Thomas J. Batterbee sold 4,000 shares of the business's stock in a transaction that occurred on 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 in the company, valued at approximately $4,212,340.76. The trade was a 19.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John J. Hollatz sold 10,560 shares of the company's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total transaction of $2,729,337.60. Following the completion of the sale, the executive vice president directly owned 97,865 shares in the company, valued at approximately $25,294,187.90. This represents a 9.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 18,528 shares of company stock worth $4,793,035 over the last ninety days. 0.62% of the stock is owned by insiders.

About Nucor

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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