Callan Family Office LLC Invests $222,000 in Nucor Corporation $NUE

Key Points

• Callan Family Office LLC has invested $222,000 in Nucor Corporation by purchasing 1,841 shares, reflecting continued interest from institutional investors as they own 76.48% of the company.
• Nucor Corporation reported earnings of $2.60 per share for the last quarter, surpassing analysts' expectations, and announced a quarterly dividend of $0.55 per share, with a yield of 1.5%.
• Equities research analysts maintain a "Moderate Buy" consensus rating for Nucor, with predictions of continued growth reflected in price targets ranging from $147.00 to $162.00.

Callan Family Office LLC purchased a new stake in shares of Nucor Corporation (NYSE:NUE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,841 shares of the basic materials company's stock, valued at approximately $222,000.

Other hedge funds have also modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Nucor during the fourth quarter valued at approximately $25,000. Putney Financial Group LLC bought a new stake in shares of Nucor during the fourth quarter valued at approximately $29,000. MV Capital Management Inc. grew its stake in shares of Nucor by 73.5% during the first quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company's stock valued at $34,000 after purchasing an additional 119 shares during the last quarter. Fourth Dimension Wealth LLC bought a new stake in shares of Nucor during the fourth quarter valued at approximately $41,000. Finally, Spirit of America Management Corp NY bought a new position in Nucor in the first quarter valued at approximately $48,000. 76.48% of the stock is owned by institutional investors.

Insider Transactions at Nucor

In other news, 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 transaction, the executive vice president directly owned 99,379 shares in the company, valued at $12,707,592.73. The trade was a 6.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kenneth Rex Query sold 10,000 shares of the company's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $130.37, for a total transaction of $1,303,700.00. Following the completion of the transaction, the executive vice president owned 94,080 shares in the company, valued at approximately $12,265,209.60. This trade represents a 9.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,109 shares of company stock worth $3,360,094 in the last ninety days. Insiders own 0.71% of the company's stock.

Nucor Stock Up 0.9%

NUE traded up $1.26 during trading on Tuesday, hitting $145.91. The company had a trading volume of 1,382,729 shares, compared to its average volume of 2,472,049. The company has a market capitalization of $33.49 billion, a PE ratio of 26.34, a PEG ratio of 0.92 and a beta of 1.74. Nucor Corporation has a one year low of $97.59 and a one year high of $170.52. The firm's 50-day moving average price is $136.22 and its 200 day moving average price is $127.02. The company has a quick ratio of 1.51, a current ratio of 2.83 and a debt-to-equity ratio of 0.31.

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

Nucor Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Wells Fargo & Company raised shares of Nucor to a "hold" rating in a research note on Thursday, August 14th. Morgan Stanley raised their price objective on shares of Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a research note on Friday, June 20th. Jefferies Financial Group raised shares of Nucor from a "hold" rating to a "buy" rating and raised their price objective for the company from $135.00 to $170.00 in a research note on Thursday, July 31st. Wall Street Zen cut shares of Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Nucor from $143.00 to $162.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $155.78.

Nucor Profile

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.