Barnes Dennig Private Wealth Management LLC Makes New $727,000 Investment in Nucor Corporation (NYSE:NUE)

Barnes Dennig Private Wealth Management LLC purchased a new position in Nucor Corporation (NYSE:NUE - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,044 shares of the basic materials company's stock, valued at approximately $727,000. Nucor makes up about 1.1% of Barnes Dennig Private Wealth Management LLC's portfolio, making the stock its 24th biggest holding.

A number of other large investors also recently added to or reduced their stakes in the stock. Canal Capital Management LLC increased its stake in shares of Nucor by 2.5% during the fourth quarter. Canal Capital Management LLC now owns 3,075 shares of the basic materials company's stock worth $359,000 after purchasing an additional 75 shares in the last quarter. Horrell Capital Management Inc. boosted its holdings in Nucor by 0.3% in the 4th quarter. Horrell Capital Management Inc. now owns 26,657 shares of the basic materials company's stock worth $3,111,000 after buying an additional 76 shares during the last quarter. Highline Wealth Partners LLC boosted its holdings in Nucor by 2.6% in the 1st quarter. Highline Wealth Partners LLC now owns 3,512 shares of the basic materials company's stock worth $423,000 after buying an additional 90 shares during the last quarter. Diligent Investors LLC increased its stake in Nucor by 4.6% during the 1st quarter. Diligent Investors LLC now owns 2,296 shares of the basic materials company's stock worth $276,000 after buying an additional 102 shares in the last quarter. Finally, King Luther Capital Management Corp raised its holdings in shares of Nucor by 1.0% during the fourth quarter. King Luther Capital Management Corp now owns 10,777 shares of the basic materials company's stock valued at $1,258,000 after acquiring an additional 105 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Trading Up 3.4%

Shares of NUE stock traded up $4.46 on Tuesday, hitting $134.00. 2,092,460 shares of the stock traded hands, compared to its average volume of 2,231,375. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.48 and a current ratio of 2.52. Nucor Corporation has a twelve month low of $97.59 and a twelve month high of $170.52. The firm's 50-day moving average price is $118.64 and its two-hundred day moving average price is $122.05. The stock has a market capitalization of $30.92 billion, a PE ratio of 23.84, a PEG ratio of 0.85 and a beta of 1.68.

Nucor (NYSE:NUE - Get Free Report) last posted its earnings results on Monday, April 28th. The basic materials company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.15). Nucor had a net margin of 4.40% and a return on equity of 6.82%. The firm had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.25 billion. During the same quarter in the previous year, the firm earned $3.46 earnings per share. The business's revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, analysts anticipate that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.20 annualized dividend and a yield of 1.64%. Nucor's dividend payout ratio (DPR) is 39.15%.

Insider Buying and Selling at Nucor

In related news, EVP Kenneth Rex Query sold 10,000 shares of the firm's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $130.37, for a total transaction of $1,303,700.00. Following the completion of the sale, the executive vice president directly owned 94,080 shares of the company's stock, valued at approximately $12,265,209.60. This trade represents a 9.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Daniel R. Needham sold 7,088 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $127.87, for a total transaction of $906,342.56. Following the completion of the sale, the executive vice president owned 99,379 shares in the company, valued at approximately $12,707,592.73. This trade represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 51,326 shares of company stock worth $6,325,108 over the last quarter. 0.71% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. BMO Capital Markets raised Nucor from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $140.00 to $145.00 in a research note on Monday, June 2nd. Morgan Stanley lifted their target price on shares of Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. The Goldman Sachs Group reduced their target price on shares of Nucor from $175.00 to $169.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Argus set a $155.00 price target on shares of Nucor in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Nucor from $156.00 to $140.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $150.00.

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.