Bank OZK Makes New $1.80 Million Investment in Nucor Corporation $NUE

Key Points

• Bank OZK initiated a $1.80 million position in Nucor during the second quarter by purchasing 8,066 shares. Institutional investors collectively own 76.48% of Nucor’s outstanding stock.
• Nucor reported quarterly earnings of $4.84 per share, exceeding the $4.46 analyst consensus, while revenue rose 23% year over year to $10.40 billion.
• Nucor’s shares opened at $252.19, and analysts maintain a “Moderate Buy” consensus with an average price target of $272.38. The company also pays a quarterly dividend of $0.56, representing a 0.9% yield.

Bank OZK bought a new position in shares of Nucor Corporation (NYSE:NUE - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 8,066 shares of the basic materials company's stock, valued at approximately $1,797,000.

Several other hedge funds have also added to or reduced their stakes in NUE. Stance Capital LLC bought a new position in Nucor in the 3rd quarter worth approximately $25,000. Transamerica Financial Advisors LLC bought a new stake in Nucor in the 2nd quarter worth approximately $25,000. Strive Financial Group LLC purchased a new stake in Nucor during the fourth quarter valued at about $27,000. Manning & Napier Advisors LLC purchased a new stake in shares of Nucor during the second quarter valued at approximately $27,000. Finally, Bell Investment Advisors Inc purchased a new stake in shares of Nucor during the second quarter worth about $28,000. Institutional investors own 76.48% of the company's stock.

Insider Activity at Nucor

In related news, COO Stephen D. Laxton sold 3,968 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer owned 77,867 shares of the company's stock, valued at $20,008,704.32. This represents a 4.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John J. Hollatz sold 10,560 shares of the firm's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total value of $2,729,337.60. Following the transaction, the executive vice president owned 97,865 shares in the company, valued at approximately $25,294,187.90. This represents a 9.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 18,528 shares of company stock worth $4,793,035. Company insiders own 0.62% of the company's stock.

Nucor Stock Performance

NUE opened at $252.19 on Friday. Nucor Corporation has a fifty-two week low of $131.32 and a fifty-two week high of $280.11. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51. The company has a fifty day moving average of $246.51 and a 200 day moving average of $218.75. The stock has a market capitalization of $57.21 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 0.94 and a beta of 1.89.

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

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 30th. Nucor's dividend payout ratio (DPR) is currently 17.86%.

Analyst Ratings Changes

NUE has been the topic of several research reports. Wells Fargo & Company cut their price objective on Nucor from $297.00 to $285.00 and set an "overweight" rating on the stock in a research report on Monday. UBS Group upped their target price on shares of Nucor from $224.00 to $256.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 28th. CICC Research began coverage on Nucor in a research report on Monday, May 25th. They set an "outperform" rating on the stock. Argus lifted their target price on shares of Nucor from $200.00 to $262.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. Finally, Citigroup reaffirmed a "buy" rating on shares of Nucor in a research report on Wednesday, July 29th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Nucor has an average rating of "Moderate Buy" and an average target price of $272.38.

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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