AMG National Trust Bank Purchases New Shares in Nucor Corporation $NUE

Key Points

• AMG National Trust Bank initiated a Nucor position, buying 5,795 shares valued at approximately $1.29 million. Institutional investors collectively own 76.48% of Nucor’s outstanding stock.
• Nucor reported quarterly EPS of $4.84, exceeding estimates of $4.46, while revenue rose 23% year over year to $10.40 billion. The company also pays a quarterly dividend of $0.56, equivalent to a 0.8% annualized yield.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $273.31; however, Nucor insiders sold 18,528 shares worth approximately $4.79 million over the past three months.

AMG National Trust Bank purchased a new position in shares of Nucor Corporation (NYSE:NUE - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,795 shares of the basic materials company's stock, valued at approximately $1,291,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Simplicity Wealth LLC purchased a new position in Nucor in the second quarter valued at about $222,000. Baxter Bros Inc. purchased a new stake in Nucor during the 2nd quarter worth approximately $747,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of Nucor in the 2nd quarter valued at approximately $69,624,000. HBK Sorce Advisory LLC acquired a new position in shares of Nucor in the 2nd quarter valued at approximately $4,035,000. Finally, Flputnam Investment Management Co. purchased a new position in shares of Nucor during the 2nd quarter valued at approximately $268,000. Institutional investors and hedge funds own 76.48% of the company's stock.

Nucor Price Performance

Shares of NYSE:NUE opened at $268.11 on Monday. The company has a market cap of $60.83 billion, a PE ratio of 21.38, a P/E/G ratio of 0.60 and a beta of 1.89. Nucor Corporation has a fifty-two week low of $131.32 and a fifty-two week high of $280.11. The firm has a 50-day simple moving average of $247.15 and a 200 day simple moving average of $214.33. The company has a quick ratio of 1.36, a current ratio of 2.51 and a debt-to-equity ratio of 0.27.

Nucor (NYSE:NUE - Get Free Report) last issued its 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 net margin of 7.99% and a return on equity of 12.73%. The firm had revenue of $10.40 billion for the quarter, compared to analysts' expectations of $10.15 billion. During the same quarter last year, the company posted $2.60 earnings per share. Nucor's revenue was up 23.0% on a year-over-year basis. On average, sell-side analysts anticipate that Nucor Corporation will post 17.95 EPS for the current year.

Nucor Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on NUE shares. UBS Group boosted their target price on shares of Nucor from $224.00 to $256.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 28th. BNP Paribas Exane increased their price target on shares of Nucor from $210.00 to $248.00 and gave the stock an "outperform" rating in a research report on Monday, May 4th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Nucor in a research note on Tuesday, August 11th. Jefferies Financial Group upped their price objective on Nucor from $225.00 to $250.00 and gave the company a "buy" rating in a research note on Tuesday, April 28th. Finally, KeyCorp raised Nucor from a "sector weight" rating to an "overweight" rating and set a $274.00 target price on the stock in a report on Wednesday, June 24th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $273.31.

Insider Buying and Selling at Nucor

In other Nucor news, COO Stephen D. Laxton sold 3,968 shares of the firm's stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $256.96, for a total value of $1,019,617.28. Following the sale, the chief operating officer directly owned 77,867 shares in the company, valued at approximately $20,008,704.32. This trade represents a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Thomas J. Batterbee sold 4,000 shares of the business's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the transaction, the executive vice president directly owned 16,138 shares of the company's stock, valued at approximately $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. Over the last three months, insiders have sold 18,528 shares of company stock worth $4,793,035. 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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